Pixabay via Pexels Members of the military have a lot of things to worry about. New enlistees are concerned whether they'll make it through basic training. Military personnel who are stationed far from their families worry about how spouses and children are faring. And, of course, those posted in dangerous parts of the world are in constant concern for their own safety. But every tax filing season, members of the military also must worry about taxes. Taxes for all, but some military breaks: Yes, with all the other responsibilities we place on the men and women who serve the United... Read more →
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Photo by Pixabay The 2025 federal tax filing season officially starts Monday, Jan. 27. Millions of taxpayers already are working on their returns. Some have even completed them. Most of these folks are in a hurry to get their Form 1040 to the Internal Revenue Service because they are expecting a refund. Many also don’t have very complicated tax situations. Or they think they don’t. But something may have changed in their personal lives that could affect their filings, for better or worse. So before they — or you — hit send on their tax year 2024 filing, it’s a... Read more →
Photo by Tatyana Mazepova It’s the holiday season, so many of us have travel on our minds. That includes the Internal Revenue Service. AAA expects 2.5 million more people will be on the roads for the year-end holiday period, which is classifies as Saturday, Dec. 21 to Wednesday, Jan. 1, 2025. That comes to a total of 107 million people making a road trip of 50 miles or more, just shy of the record 108 million drivers in 2019. But Uncle Sam’s tax collector isn’t narrowly focused on who is hitting the highways over the next few days. The IRS,... Read more →
The construction sector is one of the areas in which veteran-owned companies play a major role. Veterans Day is tomorrow, Nov. 11. This solemn day is one of the few federal holidays that isn't shifted to Monday. It is always commemorated on Nov. 11 because the 11th hour of the 11th day of the 11th month in 1918 was the specific moment marking the armistice between World War I's Allied forces and Germany, ending the fighting on the Western Front. The Veterans Day date has held firm, but its focus was expanded in 1954. That year, at the urging of... Read more →
UPDATE, Sunday, Oct. 27, 2024: The Internal Revenue Service granted tax relief to taxpayers in Juneau, Alaska, following the early August glacial outburst flooding in that state's capital city and borough. Affected Alaska taxpayers now have a May 1, 2025, tax relief deadline. UPDATE, Friday, Oct. 11, 2024: The Internal Revenue Service has granted tax relief to all Florida individual and business taxpayers in the wake of Hurricane Milton, which struck the Sunshine State's Gulf Coast on Oct. 9. In addition, the IRS also today announced disaster tax relief and a Feb. 3, 2025, deadline for individuals and businesses of... Read more →
“Oh, yeah. That’s the spot,” seems to be what this Chow Chow is thinking as he’s getting a neck rub from his owner. (Photo by Omid Armin on Unsplash) Happy National Dog Day! Or, for canine lovers, the 239th day of Dog Year 2024. Personally, I’m a cat fan. But many of my relatives are pooch parents. And let’s be honest, whatever creature you choose to welcome into your home, the animals are part of your family. So, we should be able to claim them as dependents, right? Sorry, but wrong. The Internal Revenue Service probably is full of pet... Read more →
It’s not even officially summer yet, and already taxes are intruding on seasonal fun for taxpayers across the United States. Specifically, June 17 is Tax Day for individuals who are in one of three special categories. Since that’s less than a week away, they need to get to work now so they meet the fast approaching deadline. In most cases, missing it will mean owing even more to Uncle Sam thanks to tax penalties and inters that will be added to any tax due next Monday. Estimated taxes: Millions of taxpayers make estimated tax payments every year on income that’s... Read more →
U.S. troops landing on Normandy Beach, D-Day 1944. (U.S. Coast Guard archives) Today, June 6, is not an official holiday. But it is a day worth commemorating, especially as there are so few people left who were part of D-Day 80 years ago today. More than 160,000 Allied troops were part of the largest seaborne invasion in history on June 6, 1944, launching the beginning of the invasion of German-occupied western Europe. It led to the freeing of France from Nazi occupation and was a key to the Allied victory in World War II. “The price of unchecked tyranny is... Read more →
June is here! Summer officially arrives in a few weeks. And many of us already are making vacation plans. Great! Have fun. But also make some time this month to deal with tax tasks. Really. Taxes definitely aren’t a day at the beach, but some summer tax moves can help make next year’s filing easier, and potentially less costly. Here are five tax moves to make, or at least consider, this June. 1. Pay your estimated taxes. Millions of us must make these extra tax payments each year. The payments cover income we get that’s not subject to withholding, such... Read more →
“Veterans,” acrylic on canvas, by Jesse T. Hummingbird (Cherokee, b. 1952) celebrates the generations of Native Americans who have, and still do, serve in the various branches of the U.S. military. The painting is on display at the Smithsonian's National Museum of American Indian. This Memorial Day many of us are incorporating honoring fallen U.S. military men and women into our more recreational activities. That’s easy to do if you live in or visit the national capital area. Washington, D.C., is full of monuments and museums, many of which have special military-themed exhibits, either as permanent displays or shown on... Read more →
Updated Thursday, April 4, 2024 via GIPHY Tax Day is less than two weeks away, but some aren't sweating the April 15 filing deadline. They have more time to complete their tax paperwork and, in some cases, may any associated payments. Here's a look at the special situations where taxpayers have more time to file their federal tax returns. International, including military, taxpayers: When it comes to individual taxes, the tax code doesn't care where you live. If you're a U.S. citizen or resident alien, including those with dual citizenship, you must pay tax to Uncle Sam even if you're... Read more →
Unsplash+ in collaboration with Getty Images Tax season 2024 officially starts Monday, Jan. 29. Lots of taxpayers have already filled out their 1040 forms and are just waiting for the Internal Revenue Service to start processing them next week. Most of these early filers are expecting tax refunds. They also likely have relatively simple tax lives. Lucky them. Others, however, have more complicated tax and financial circumstances. These folks have more tax documents with details that must be transferred to their return forms and schedules. They also need to consider how their situations might affect their tax returns. Below is... Read more →
Free File is back for its 22nd filing season. The no-cost tax preparation and e-filing partnership between the Internal Revenue Service and tax software manufacturers opened today, Friday, Jan. 12, to eligible taxpayers. This year, Free File eligible taxpayers are those whose 2023 adjusted gross income, regardless of filing status, was $79,000 or less. 8 software options: Eight private-sector tax software companies are part of this 22nd Free File season. They are — 1040Now Drake (1040.com) ezTaxReturn.com FileYourTaxes.com On-Line Taxes TaxAct TaxHawk (FreeTaxUSA) TaxSlayer Each IRS Free File provider sets its own eligibility rules for products based on age, income,... Read more →
Now that we know the Internal Revenue Service will start processing our 2023 tax returns on Jan. 29, taxpayers are thinking about how they'll deal with this annual filing task. Many taxpayers are concerned about tax law complexity. Some are looking for the most tax breaks that will get them a big refund. Others worry about the cost of filing. And all of us just want the process completed as painlessly as possible. Regardless of your tax concerns, you have lots of filing options. Here's a quick overview. Go pro: You can hire a tax professional, either an independent tax... Read more →
Photo by Jonathan Cooper on Unsplash Millions of taxpayers are anxiously awaiting the start of tax filing season 2024. They are expecting tax refunds. Most of these filers also know that the quickest way to get their tax cash is to file electronically and have their refunds directly deposited. The Internal Revenue Service says that when you take this digital route, you will, in most cases, get you your refund in 21 days or less. Some taxpayers, however, aren't eligible for this faster refund option. They don't have any financial account into which the IRS can electronically deposit their refunds.... Read more →
This pup looks like he's asking it it's time to open gifts. (Photo by Unsplash+ in collaboration with Getty Images) Next Monday morning, Dec. 25, many families will welcome a new member. I'm talking, of course, about a pet. A puppy, kitten, or other pet of any type of age can be a wonderful addition to a home. Pros and cons of pets as presents: But many animal groups and veterinarians warn against giving a pet, especially as a surprise, during the holidays. This already is a stressful time for many, and if everyone who will be involved in the... Read more →
Photo by Xingchen Yan on Unsplash If your work involves driving, the Internal Revenue Service has some good news for your 2024 business trips. Today, the tax agency announced that on Jan. 1, 2024, the standard optional mileage rate you can use to claim those eligible miles will go to 67 cents per mile. That's a 1.5 cent increase over the 2023 mileage rate. However, the other two mileage rates that the IRS evaluates and adjusts each year are going down. Travel for medical and, in the case of qualified active-duty members of the Armed Forces, moving purposes will be... Read more →
…and possibly get a sweet tax break for your gift. Unsplash+ in collaboration with Getty Images There are two kinds of Halloween candy people. There are those who low-ball their trick-or-treater count and end up running out of goodies to give out early in the night's festivities. They turn off the porch and interior lights, and ignore the doorbell ringing by costume clad candy seekers who refuse to bypass any house. Then there are those who buy waaaaay too much candy. Even when they start doubling the handouts to the later goodie-seeking groups, they end up with a lot, a... Read more →
Updated Tuesday, October 17, 2023 The Internal Revenue Service's surprise announcement came on what was Tax Day for millions of Golden State taxpayers who earlier got additional federal filing time due to major disasters. State officials have followed suit, extending California's due date, too. In addition, the IRS last week gave U.S. taxpayers living in Israel almost a year to take care of a variety of current tax obligations. Storms across California earlier this year produced widespread flooding and other disastrous conditions. That prompted federal relief, including extended tax deadlines. Today, the IRS gave Golden State taxpayers another month to... Read more →
Welcome to the first full week of June. Have you finished making your vacation plans? I hope you left some time to also deal with summer tax tasks. That's right, taxes don't go on holiday. And while they aren't fun, there are some tax moves you need to make, or at least consider, this June. Since we're already on fifth day of the month, let's get right to them, focusing on some other relevant numbers. Don't miss Tax Day take two. June 15 is Tax Day for U.S. taxpayers who live and work outside the United States and Puerto Rico.... Read more →
Photo by Eric Prouzet on Unsplash In my neighborhood, the windows of businesses large and small are plastered with "Help Wanted" signs. My suburban Austin area is not alone. In the best of times, businesses face challenges in finding the best workers for their needs. This is not the best of times when it comes to hiring. Right now, according to the U.S. Chamber of Commerce, there are 9.9 million job openings in the United States, but only 5.8 million unemployed workers. This tight job market is why it's critical that companies don't undercut their hiring efforts. Some do just... Read more →