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Daily Tax Tips 2017: January's New Year Tips
Let's get this tax party started!

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Happy New Tax Year! Yes, 2017 is here, much to the relief of many folks who couldn't see 2016 end soon enough.

And while we might be glad to be done with the last 12 months for whatever reason, we are not done with 2016 taxes. Some of you will complete this tax task quickly, filing as soon as you get all the necessary documentation.

Others (me) will file later in the season, even waiting until the very last minute -- which this year is April 18; details in the first Daily Tax Tip below -- to fill out their 1040s or get an extension (me, again).

Whichever filing timetable you use, the annual collection of Daily Tax Tips is here to help.

These bits of tax information each weekday are designed primarily to help us file our 2016 tax returns.

But since tax filing season for the prior year overlaps with the current tax year, some of the Daily Tax Tips will offer info on cutting our 2017 tax bills.

Weekdays only: Just like last year the Daily Tax Tips will be posted Monday through Friday. Yes, I'm taking weekends mostly off, especially since the hubby has now cut back on his own workload. Yep, we're thinking about/edging toward retirement!

Plus, I can tell by my daily reader reports that's what most of y'all are doing, too! Good for all of us for having a balanced life.

So I'm sticking with the weekday only tips again this year.

Casting a wider tip net: This year I'm trying something new. In addition to tax tips that I write, I'll be featuring tax advice from other folks. 

There's a whole wide world of great tax and personal finance bloggers and writers out there, so it makes sense for me to share some of their insight, too.

And, as I mentioned earlier, it allows me to be lazy work smarter by sharing those items rather than creating it on my own.

Old, new, touched-up tips: In addition to finding the tips for January listed here (and February, March and April tips on their own pages as those months arrive), the Daily Tax Tips will be highlighted at the top of the ol' blog's right column. 

Long-time readers also probably will notice that many of these tips have shown up there and here before. That's not because I'm just phoning it in. It's because taxes are a lot like a car.

The basic tax chassis, in this case the Internal Revenue Code, tends to stay the same. But that vehicle does need some regular tune-ups, like annual tax-related inflation adjustments. And occasionally you have to change the change the tires, which for taxes means noting when tax laws change substantially.

Regardless of whether the Daily Tax Tips for 2017 are oldies-but-goodies or a totally new pieces of tax info, all should help in our 2016 return filing and 2017 tax planning.

Multiple tip access options: You'll find a new tip each weekday in the ol' blog's upper right corner. You can click on the tip title to read more. 

I'll try to get the post up as early as I can each day, but I learned long ago to make as few time-related promises as possible. Life just seems to mess up my calendars and clocks too much of the time!

If you miss the daily notice, the tips will once again be collected on monthly directory pages (like this one for January). Again, just click on the bold-faced tip title to read more (and the links in some of the tips, too!).

Most of January's tips will be focused on helping early filers who are ready anxious to get their 1040s to the Internal Revenue Service and refunds back ASAP. As February, March and April arrive, the tips will offer insight on more complicated tax matters -- those aggravations intricacies are why many of us put off filling our returns -- as well as advice on how to save on your 2017 taxes.

Now that we've got that housekeeping out of the way -- and with the the tax clock ticking (literally; check it out in the ol' blog's right column) -- let's get this New Year's Daily Tax Tip Party started!

    1. Important 2017 tax dates -- Ready, set, file! And also mark your tax calendar. The key dates and tax deadlines in 2017 are a bit different: Jan. 23, Feb. 15, April 18 and Oct. 16, thanks to some calendar quirks and holiday timing. While the date changes might be a bit confusing, for the most they are beneficial, giving us a bit more time to take care of tax tasks. (Jan. 4, 2017) 
    2. Free File starts Friday, Jan. 13 -- Taxpayers who qualify for the no-cost online tax preparation and e-filing option are in luck on the first Friday the 13th of 2017. They can use Free File to get a head start on their annual filing task. Who's eligible this year? All taxpayers regardless of filing status who make $64,000 or less. (Jan. 5, 2017)
    3. Tracking tax deductible miles — Do you drive for business purposes or other possibly tax-deductible reasons? Keep good records of your miles. It could pay off as deductions at tax filing time. (Jan. 6, 2017)
    4. Get organized for tax season — One key to a successful tax filing season is to be prepared. By having all the data you need to fill out your 1040 on hand, you'll be ready to file an accurate return at the earliest possible moment. Some rely on their prior year's return as a guide. Robert from TheCollegeInvestor.com suggests using an income tax binder. (Jan. 9, 2017)
    5. Income tax rates and brackets — The same 7 tax rates still apply, but the income that falls into each in 2016 and 2017 is slightly different thanks to inflation adjustments. Remember, you use the 2016 tax table to get an idea of the taxes you report and pay (or get refunded!) on the Form 1040 due by April 18. The 2017 table is to help you plan your tax and tax-saving moves this year. (Jan. 10, 2017)
    6. Picking the perfect tax pro — You've decided this year to get professional help in completing and filing your tax return. Here's a look at your tax preparer choices and how to pick the one that is perfect for your tax needs. (Jan. 11, 2017)
    7. Where to find your perfect tax pro — You've decided what type of tax preparer you want to hire. Now you've got to find one in your neighborhood. Here's how. (Jan. 12, 2017)
    8. 13 Friday the 13th tax tips — No need to be scared of black cats or taxes on Friday the 13th or any day as long as you know the real scoop about these 13 tax myths. (Jan. 13, 2017)
    9. Tax break limits on volunteering — Charity giving takes many forms, but not all are tax-deductible. Take, for example, your volunteer work on the Martin Luther King Jr. federal holiday's Day of Service. Your good deeds are appreciated, but you cannot deduct the value of your time. (Jan. 16, 2017)
    10. Tax exemptions are excellent — A big family could lead to a smaller tax bill thanks to personal exemptions. This dollar amount for yourself, your spouse and dependents helps lower your taxable income amount, meaning your tax bill should be less. (Jan. 17, 2017)
    11. Is your child your tax dependent? — It's usually pretty clear when a child is a dependent for tax purposes. But there actually are five tests that must be passed to claim your kiddo on your tax return. (Jan. 18, 2017)
    12. Standard and itemized deduction inflation figures — Deductions help reduce your income, which leads to a lower tax bill. Standard deduction amounts, which most folks claim, are adjusted annually for inflation. But there are inflation-tweaked amounts that also could affect the size of allowable itemized deductions. Here are the amounts for filing your 2016 return and planning your 2017 tax strategy. (Jan. 19, 2017)
    13. 5 tax tips for Free File users — Free File, the partnership between the Internal Revenue Service and tax software manufacturers, could be a good, and money-saving, move for millions of taxpayers. But before you decide, check out these tips on how to evaluate and use the free return preparation and e-filing option. (Jan. 20, 2017)
    14. Tax filing checklist — The 2017 filing season is officially underway. But before you tackle your 1040, make sure you have all the necessary documents on hand. Also ask yourself some key filing questions to ensure you don't overlook any tax breaks. This checklist can help. (Jan. 23, 2017)
    15. 10 reasons to file a tax return — Tax filing can be a hassle that most of us have to deal with each year. But in some cases, it pays to file a 1040 even if you aren't legally required to do so. (Jan. 24, 2017)
    16. 6 charitable deduction FAQs — People give to their favorite charities because they want to help. That said, your philanthropy also might help you save a few tax dollars. Here are answers to six commonly asked questions about donating and deducting your gift on your tax return. (Jan. 25, 2017)
    17. 6 Obamacare tax-filing tips — The Republican-controlled Congress and new GOP President Donald Trump are moving ahead on repealing and replacing the Affordable Care Act. But since it was in place for 2016, here's how to make sure you comply with the tax requirements of the for-now law. (Jan. 26, 2017)
    18. Don't overlook the EITC — The Earned Income Tax Credit (EITC) provides a welcome, andsometimes quite generous, tax break for millions of Americans. Many, however, don't ever file for it. Here's a look at how to qualify for this tax credit that could give you a nice refund. (Jan. 27, 2017)
    19. Decoding your W-2 — You finally got your W-2 and are ready to file your taxes. Here's what you need from all the boxes on that wage statement to fill out your 1040. (Jan. 30, 2017)
    20. The many types of Form 1099 — If you're an independent contractor, you know all about 1099-MISC. But there are lots of other versions of this IRS tax statement that you could need to complete your taxes. (Jan. 31, 2017)

But wait, there's more! As I mentioned, as soon as January wraps, you can check out February's (and March's and April's) Daily Tax Tips. When those months and tips arrive, the links below will become live.

February 2017 Daily Tax Tips

March 2017 Daily Tax Tips

April 2017 Daily Tax Tips

Can't get enough tax tips? Check out Don't Mess With Taxes' continually expanding collection of year-round tax tips and money moves.

Today's Tax Tip

  • Ways to pay your tax bill — The Internal Revenue Service still accepts paper tax payments, like checks and money orders. However, it prefers that we use one of these 6 e-payment options to settle our tax liability. (March 19, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
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    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

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  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Hello ☘ March.
    Your 2023 arrival is welcome, officially bringing us spring and getting us closer to the end of the main tax filing season. In fact, it's even closer, since this third month of the years also has us spring forward into Daylight Saving Time. So let's not waste any more precious hours and, ahem, march right into this month's tax tasks.


    via GIPHY


    March 1: It's the last full month of the tax-filing season, so that's a good reason to come at our taxes in the proverbial like a lion March entry mode. The first thing to attack like the feline king is the gathering of all the tax statements you'll need to fill out your 2022 return. This includes the paper ones that you tossed on a stack when they arrived, as well as those sent electronically and that you need to download or at least look at.

    March 6: Official tax statements aren't the only things you'll need to help you file. Other documents have information that's relevant to your tax return. So are the answers to some basic life questions. This tax checklist can help guide you as you work on your return. And don't forget about your previous tax return. That prior tax year filing is a good template, especially if your tax life hasn't changed that much.

    March 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    If you got at least $20 in gratuities in January, you must account for the tips today by using Form 4070 to report last month's tips total to your employer.

    March 12: Feeling a bit tired after losing an hour of sleep earlier this morning? I'm right there with you. But I do love the extra end-of-day sunshine.

    Daylight Saving Time clock springs forward

    We can use that late-day natural light to work on our tax returns, including state filings if you, like most U.S. residents, live where state (or District of Columbia) personal income taxes are collected.

    March 15: This date is more than a literary reference. The Ides of March apply each year to many business taxpayers. Today is the tax filing deadline for partnerships (Form 1065 with K-1 or K-3 schedules) and S corporations (Form 1120S, again with the K schedules).

    March 17: Erin Go Bragh and
    Happy St. Patrick's Day!

    via GIPHY

    Enjoy this day, but don't trust lucky charms to get you through tax filing season. Double check your 1040 to ensure you haven't overlooked any tax breaks or made any common filing mistakes.

    March 20: Spring has sprung!

    Spring; click image for the Farmer's Almanac take on the vernal equinox

    That means it's time for spring cleaning. Your gifts won't help with your current tax return, but they could pay off next year as charitable donation deductions if you itemize.

    March 27: If you have a tax-deferred retirement account, such as a traditional IRA or workplace regular 401(k), and are in your 70s, you could be facing a required minimum distribution (RMD) due date in just more than a week. If you turned 72 last year and didn't take your initial RMD by Dec. 31, you must do so by April 1. A quick planning note, too, for septuagenarian savers not yet facing RMDs. These mandatory distributions this year kick in when you celebrate your 73rd birthday, thanks to the new SECURE 2.0 retirement law.

    March 31: This is it. March is over, which for taxes means you best shed your out like a lamb attitude and get to work on your Form 1040. The IRS recommends we file electronically, which will speed up processing of returns and issuance of any refunds. The tax agency also urges taxpayers to check out Free File, the no-cost online preparation and electronic filing web page for eligible taxpayers created by the IRS' partnership with the Free File Alliance. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

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I gotta tell ya ...

  • AKA Disclaimer:
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    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
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    Call 1-800-232-0233
    or TTY 1-888-720-7489.
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March 2023

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Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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