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January 2018 Daily Tax Tips
New year, dual tax considerations

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Happy New Tax Year! Yes, 2018 is here, marking the end of a tax filing system we've used for decades and bringing in a whole new set of tax considerations.

Are you ready? Me neither.

But we can work through this together, with the tax information and advice contained in 2018's Daily Tax Tips.

Two tax systems: There's naturally much interest in and, for many folks, concern about the tax code changes that took effect Jan. 1, 2018, under provisions of the Tax Cuts and Jobs Act.

And we do need to familiarize ourselves with and plan for these changes, which for many are substantial.

But for the first part of 2018, we've also got to file our 2017 taxes. And those returns will be based, for the most part, on the old tax laws.

The Daily Tax Tips, starting with these for January, are designed to help accomplish this task.

We aren't, however, ignoring the fact that the prior year's filing season and the current tax year for which we must plan overlap. That means that some of the Daily Tax Tips will, as they have for years, will offer info on the new tax laws and how we can use them to reduce our 2018 tax bills, especially as we get further into the year.

Weekdays only: Another thing remains the same this 2018 tax year. The Daily Tax Tips will be posted Monday through Friday only.

Yep, I'm still trying to take added me (well, me and hubby) time on weekends. I know I'm not alone here. My blog analytics show that most of y'all are reading on weekdays. (I won't tell your bosses that you're using the office computer!)

Good for all of us for having a more balanced life!

And for now, that scale is tipping to the tax side, so here goes with January's Daily Tax Tips.

Multiple tip access options: You'll find a new tip each weekday in the ol' blog's upper right corner. Clicking on each tip's boldfaced red-font title will take you to the full post or article.

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 run on its own schedule, often mocking my own calendars and clocks!

If you miss the daily notice, the tips will once again be collected on monthly directory pages (like this one for January). As the 2018 tax year progresses, I'll post the Daily Tax Tips for February, March and April, thorugh the filing due date, on their own pages. 

That's all housekeeping I have. So, with the the tax clock literally ticking down (you can check that out, too, in the ol' blog's right column), let's dive right into January's Daily Tax Tips.

  1. Tax rates, income brackets for 2017 and 2018 tax years — The first question every taxpayer wants answered is, "How much will I owe?" Get an idea by looking at where your income falls in the annual tax rates and income brackets. Check out 2017's amounts you'll use to figure taxes on your return due in April. Then look at how new tax laws might change what tax bracket you're in so you can do some 2018 planning. (Jan. 8, 2018)
  2. Standard tax deduction amount changes — Most taxpayers claim the standard deduction rather than go to the trouble to itemize. Check out the 2017 amounts you'll use on your return due April 17 this year, as well as the increased (thanks to new tax laws) standard deductions for tax year 2018. (Jan. 9, 2018)
  3. Tax credits, deductions, inflation and new tax laws — Many popular tax deductions and tax credits — ranging from Uncle Sam's help in adopting children to paying for schooling to assisting commuters to supporting moderate- and lower-income workers — are affected each year by inflation. Some of those tax breaks also have been changed under the newly-enacted tax laws. Here's how they'll be treated on 2017 and 2018 returns. (Jan 10, 2018)
  4. Medical itemized deductions easier to claim on 2017, 2018 returns — Inflation adjustments and the new Tax Cuts and Jobs Act provisions mean many changes to health care related tax matters. A popular medical deduction, claiming the many allowable itemized medical expenses on Schedule A, even got easier for tax years 2017 and 2018. (Jan 11, 2018)
  5. Free File 2018 is now open — The IRS won't process your return until Jan. 29, but you can get it lined up early by using, if you qualify, the now-open Free File option. (Jan 12, 2018)
  6. Tax breaks for volunteers — The itemized tax deduction for charitable gifts survived basically unscathed in the recent tax laws changes. That means that while you can't deduct the value of the time you volunteer on this Martin Luther King Day (or any other time), you still might be able to claim some service-related contributions on Schedule A. (Jan 15, 2018)
  7. The scoop on paying estimated taxes — Millions of U.S. taxpayers have to make four extra tax payments every year. The fourth and final one for 2017 is due today. Here's the who, what, when, where, why and how (to pay) of estimated taxes. (Jan. 16, 2018)
  8. Time to get tax organized — A successful tax filing season starts with preparation, and I'm not talking about just filling out your 1040. To do that properly and in the most expeditious way, you need to be organized. When you have all the data you need to fill out your return, you'll be ready to go the minute the IRS officially opens filing season, which is Jan. 29 this year. (Jan. 17, 2018)
  9. Tax pro or tax software? — It's time to decide just how you'll do your taxes. You can join millions who opt for tax software to prepare their returns. Or you can get more personal guidance from a tax preparer. Check out these tips on how to determine which method is better for you. (Jan 18, 2018)
  10. 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 19, 2018)
  11. How to stop tax procrastinating — It's no fun doing your taxes, even if you're getting a refund. But putting off the annual tax task could make things worse. Here's why we avoid doing our taxes — until the very last, extended minute for many of us! — and how to break our potentially costly tax delay habit. (Jan 22, 2018)
  12. 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 Form 1040. (Jan 23, 2018)
  13. Tax refund loan alternatives — The recent three-day government shutdown plus the requirement that the Internal Revenue Service hold certain refunds until at least mid-February has many folks thinking about getting a refund advance loan (RAL) or refund advance check (RAC). While these tax-money-up-front programs are more consumer friendly, you might want to think twice before applying, even if you're counting on your tax refund to pay for life's necessities. Instead, consider these options that are totally fee-free. (Jan. 24, 2018)
  14. 5 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 e-filing option. (Jan. 25, 2018)
  15. Don't overlook the EITC — The Earned Income Tax Credit (EITC) provides a welcome, and sometimes 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 and how much of a tax refund it offers. (Jan 26, 2018)
  16. Tax filing checklist — The annual tax 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 29, 2018)
  17. Maximizing medical itemized deductions — Taxes make us jump through many hoops, as well as over an income threshold bar when it comes to medical expense deductions. Here are some ways to maximize your doctor-related costs on Schedule A. (Jan 30, 2018)
  18. Tax benefits of being a temporary landlord — Is your city hosting a big event, like this weekend's Super Bowl LII or South by Southwest here in Austin or some of the annual NCAA March Madness college basketball tournament games? That craziness could be an easy and tax-free way to make some extra money by turning your home into a short-term rental during the special happening. (Jan 31, 2018)

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 2018 Daily Tax Tips

March 2018 Daily Tax Tips

April 2018 Daily Tax Tips

 

 

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Today's Tax Tip

  • What the one big tax bill could mean for you — It’s official. The One Big Beautiful Bill Act is law, signed at a White House July 4th ceremony. Taxes are a major part of the nearly 1,000-page measure. Here’s a collection of articles on what the new tax (and more) law could mean for your tax planning and ultimate Internal Revenue Service bill. (July 5, 2025)


  • Tax Tip; click pencil for all tax tip links

  • The 2025 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 2025 Continues!

    We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 27, the IRS said it expected more than 140 million individual tax returns for tax year 2024 to be filed by April 15. When the month started, the agency was around 39 million short of that number. While many taxpayers no doubt got their 1040s in by Tax Day, million every year get an extension to file. That's fine.

    In fact, the Internal Revenue Service appreciates some of us spreading out our tax submissions. It gives the agency time to process the surge of returns that arrive en masse on April 15.

    But enough about Uncle Sam's tax collection issues. The focus now is on all y'all who filed for extensions, giving you another six months to complete your return. Let's get started on meeting that new Oct. 15 deadline. It will be here before you know it.

    The monthly tips and reminders a little further down this column can help you finish up your extended Form 1040. There also will be tax tidbits each month that make sure you meet other tax deadlines. And, of course, you'll find advice on ways to cut your 2025 tax bill.

    The monthly tips and reminders a little further down this column can help you finish up your extended Form 1040. There also will be tax tidbits each month that make sure you meet other tax deadlines. And, of course, you'll find advice on ways to cut your 2025 tax bill.
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Welcome July!
    🗽 USA 🎆 Birthday 🎉 Time! 🦅


    This first full month of summer really knows how to get the season started: Fireworks across the country on July 4!
    Or, if your neighborhood is annoyingly like mine, fireworks from July 1 through July whenever the pyrotechnics are all boomed!

    Even more exciting, tax-related sparklers continue through the month. In fact, as the calendar of tax tasks below notes, they started before the wicks on any official Independence Day firecrackers were lit.

    toddler with flag background
    Click on the image for some fireworks safety tips and warnings from the U.S. Consumer Product Safety Commission.

    I know, you're feeling like the youngster above, not quite ready yet to hear about taxes. But when you do take your hands off your ears to hear — or rather, scroll down to read — you’ll find some tax information to note and tax moves to make in July.

  • July 1: The majority of state individual and corporate income tax policy changes follow the calendar year and take effect each Jan. 1. But, notes the Tax Foundation, many sales and excise tax changes take effect today, July 1, which is the beginning of the fiscal year for all states except Alabama, Michigan, New York, and Texas. That’s why that notable tax changes will take effect in several states today.

    July 4: Happy 249th Birthday, America!

    Most of us will never be totally independent of taxes, but we can celebrate fewer tax hassles by paying attention to what we might owe and how we can reduce that amount throughout the year. As for that owed amount, if you meet most of your annual tax federal obligation via paycheck withholding, now is a good time to review that amount. If you need to adjust your withholding, the amounts will be less noticeable by being spread across 2025’s remaining six months.

    July 10: If your job is as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation, I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining at your favorite eatery or getting food, groceries and/or prepared meals, 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 June for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.

    July 11: Today kicks off the first of the annual summer state sales tax holidays. During these special shopping events, usually touted as back-to-school tax holidays, certain items are exempt from the states’ and usually the local sales taxes. Announced July sales tax holidays are (so far) in —
    Mississippi from July 11 to 13;
    Alabama from July 18 to 20;
    New Mexico from July 25 to 27, and
    Tennessee from July 25 to 27.

    July 18: If back in April you got an extension to file your 2025 tax return, you don’t have to wait until the final Oct. 15 deadline to do so. You can get this tax task out of the way so you don’t have to think about it for the rest of the summer. You also might be able to file electronically at no cost if your adjusted gross income (AGI), regardless of your filing status, is $84,000 or less by using the official IRS.gov Free File website.

    IRS Free File; click image for details

    Eight software companies are part of this year’s IRS-Free File Alliance partnership option at IRS.gov. They will be available through the Oct. 15 extension deadline, but again, you don’t have to wait. And if your income is too high, you still can file for free by using Free File's Fillable Forms option.

    July 24: Millions of us head to the beach to beat summer’s heat. But when the waters heat up, too, they can feed tropical systems. So far, the 2025 Atlantic (and Gulf of Mexico) hurricane season, which runs through Nov.  30, hasn’t been that bad. But federal forecasters say just wait. They once again are forecasting a more active than usual hurricane season. Before another tropical system forms, now is the time to get ready.

    Hurricane satellite image

    Uncle Sam's official forecasters at the National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center say we could get 13 to 19 total named storms, which are those with winds of 39 mph or higher. Of those, six to 10 are forecast to become hurricanes, meaning winds of 74 mph or higher. Three to five of the storms this season could become major hurricanes; that’s category 3, 4 or 5, with winds of 111 mph or higher.



    The countdown clock above can help you keep track of how many more days you have to worry about tracking any size or type of tropical storms. You also might want to check out the ol' blog's Storm Warnings collection of special pages with posts offer tax advice on preparing for, recovering from and helping those who sustain damages from the many ways that that weather goes wild.

    July 31: Summer is a great time to make home improvements. And there’s some added urgency this year if you’re relying on tax credits to help cover the cost of energy-efficient residential upgrades. Congress has targeted green energy tax breaks in its massive One Big Beautiful Bill. Many of the tax breaks will expire sooner than originally scheduled, so get your home improvements — and other environmentally friendly moves, like buying an electric vehicle — in under the tax law change wire.

    Small Business Tax Calendar: If you run your own company, you know there are myriad important filing, deposit, and record keeping dates throughout the year that your company needs to meet. You also can track key business and individual tax deadlines in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-two states and D.C. collect personal income taxes. But even if you live in of the eight states without any 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 2025 page.

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I gotta tell ya ...

  • AKA Disclaimer:

    I am a professional journalist who has been covering tax issues since 1999. I am not a professional tax preparer.

    The content on Don't Mess With Taxes is my personal interpretation and 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. While I work to ensure each post's accuracy, the items are not recommendations of any specific tax action(s) you should or should not take. Similarly, mentions of commercial tax products or services are not endorsements.

    In other words, my ramblings on the ol' tax blog are free advice, and you know what they say about getting what you pay for. That's why when it is time for you to file your own taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent, or other reputable, 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 five Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020
    August-December 2020
    January-December 2021
    January-December 2022
    …and so it continues into 2023
    …and, alas, into 2024
    It is 2025 and, yes, it's still an issue
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

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    or TTY 1-888-720-7489.
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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 — Congress and the White House for our tax laws. 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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