Transportation Feed

Archer Daniels Midland is one of the major corporations cited in a new report of companies that paid no taxes in 2020. The Biden Administration's infrastructure plan has ramped up the perennial tax debate between Democrats and Republicans. The White House wants to increase tax collections on companies to pay for the proposal, dubbed The American Jobs Plan. And that approach is getting some support from a recent Institute on Taxation and Economic Policy (ITEP) report. The Washington, D.C. nonprofit found that 55 of the largest U.S. companies paid nothing in federal income taxes last year. The $0 tax payments... Read more →


President Joe Biden's heart may belong to his 1967 classic Corvette Stingray, but he's working to make Uncle Sam's 600,000 automotive fleet electric. (Photo by Adam Schultz via Flicker) Much of the focus on the new White House understandably has been on President Joe Biden's COVID-19 relief package. But Biden also has been pushing his alternative energy plans, specifically a move to electric vehicles (EVs). Just days after his inauguration, he vowed to replace the bulk of the federal government's fleet of vehicles with made-in-America EVs. On Tuesday, March 2, Biden met virtually with executives in the EV charging infrastructure... Read more →


No, there isn't an electric version of Chevrolet's iconic Corvette (because who would want that!), but you have lots of other electric vehicle options that could get you not only a new car, but a nice federal tax credit. There are a couple of television commercials I look forward to every holiday season. There's the Corona Extra "Oh Tannenpalm" spot that's been airing for 30 years. And, of course, there's Hershey's Kisses handbell choir, which has been running even longer. Not as welcome, but as inescapable this time of year are the automaker ads with cars bearing giant bows. I've... Read more →


Voters' voices literally matter each election when initiatives are on ballots. Here are results of some tax questions that were decided by the 2020 electorate. Vice President Joseph R. Biden today was declared president-elect of the United States. It took longer than usual, but that part of Nov. 3 (Donald J. Trump legal challenges notwithstanding) is over. Decisions on the myriad ballot questions that also went before voters across the county on the first Tuesday of November came a bit sooner. Here's a quick look at the results of the tax initiatives in the order they were featured in my... Read more →


Welcome to Part 4 of the ol' blog's series on 2021 tax inflation adjustments. We started with a look at next year's income tax brackets and rates. That first item also has a directory, at the end of the post, of all of next year's tax-related inflation updates. In In today's post, at changes to tax credit, deduction and income exclusion amounts. Note: The 2021 figures in this post apply to that tax year's returns to be filed in 2022. For comparison purposes, you'll also find 2020 amounts that apply to this year's taxes, due April 15, 2021. Deductions are... Read more →


In addition to selecting who gets to go to, or stay in, Washington, D.C., voters across the country on Nov. 3 will decide on a variety of ballot measures. This coming Election Day, citizens in 32 states will decide the fate of 120 statewide initiatives. There also are measures on the ballots in the District of Columbia, Puerto Rico and the U.S. Virgin Islands. And yes, there are plenty of tax questions that will be decided. Ballotpedia, the Wisconsin-based nonprofit that's been tracking election data since 2007, says this year voters in 12 states will decide 19 tax-related ballot measures.... Read more →


No gasoline necessary for electric vehicles like this Chevrolet Bolt, which instead is plugged in to recharge for the road. If you opt for an IRS-certified electric auto or light truck, you might get some tax break help on your purchase. Climate change is getting more coverage lately. People are paying attention to what's happening with Mother Nature here in the United States thanks to the opposing environmental takes by the two presidential contenders. On a more personal level for many Americans is that we're in the midst of one of the most active hurricane seasons ever — we're already... Read more →


The vehicle lights coming and going across Pennybacker Bridge in northwest Austin are lovely in the evening, but the image also illustrates, as photographer Manuel Garza (via Flickr) notes, "the traffic sucks." I can't speak for all the country's suburbs, but I know mine is pretty sure that our neighborhood will still be around after the coming presidential election even if Joe Biden does move into the White House. We are, however, a bit concerned about how our continuing life here outside Austin's downtown might be affected by a proposed real estate tax increase that also will be on our... Read more →


The Trump Administration plans in the next few weeks to announce a $1 trillion infrastructure bill, according to Bloomberg and Financial Times. The proposed spending on roads and bridges is seen as a way to further jump start the COVID-19 hobbled U.S. economy. The money reportedly would be spent over 10 years, but those familiar with the White House thinking say the plan is still "fluid and could take time." It also would go head-to-head with not only a sizable Democratic highway bill now before a House subcommittee, but also a GOP version that cleared the Senate last summer. Mapping... Read more →


This is what I paid for a gallon of gas four years ago. It's not quite that cheap right now, but fuel prices here and nationwide are heading down again. Life is full of trade-offs. That includes our tax lives. If you have money in the stock market, the continued declines of asset values are, at best, disconcerting. Uncertainty about the coronavirus, both how quickly it's spreading and questions on how to contain it, have been a major factor in the market's losses. But another factor came into play with today's dive. The biggest oil price crash in decades sent... Read more →


Millions of Americans are self-employed. In the Internal Revenue Service's Statistics of Income count for tax year 2017, more than 26 million of U.S. nonfarm taxpayers filed as sole proprietors, submitting Schedule C along with their annual Form 1040 individual tax returns. The great thing about Schedule C is that is offers lots of ways sole proprietors, of which I'm one, can reduce our gross self-employment earnings. But one of those deductions that many likely claimed on their 2017 Schedule C has in subsequent years become a source of confusion and consternation. The tax break for business meals and entertainment... Read more →


My [too] many medical treatment folders and dedicated medical travel log. (Kay Bell photo) I'm in the tax filing minority. I still itemize. Medical issues are the primary reason I've been filling out Schedule A for the last few years. Not to bore you with the gory details, but recently I've had a couple of medical scares and surgeries. Combine those with the requisite multiple physician follow-ups (this afternoon I'm heading to my fifth of sixth doctor appointments this month), continued testing and, of course, prescriptions and let's just say I'm helping many, many doctors pay off their vacation homes... Read more →


Welcome to Part 4 of the ol' blog's 2020 series on tax inflation adjustments. We started on Nov. 6 with a look at next year's income tax brackets and rates. Today we look at changes to tax credit, deduction and income exclusion amounts. Note: The 2020 figures in this post apply to 2020 returns to be filed in 2021. For comparison purposes, you'll also find 2019 amounts to be used in filing 2019 returns due April 15, 2020. The hubby has a chant he breaks into every year when I start working on our annual tax return: "Deduct! Deduct! Deduct!"... Read more →


November is the place for perfectly roasted Thanksgiving bird, not the many tax turkeys that can gobble up your money. These monthly tax moves are a great garnish as you finalize your 2019 tax year menu. Turkey attack from South Park via GIPHY It's November. You know what that means. Year-end tax move time. Oh yeah, and holiday plans. I hear ya. It's that crazy hectic part of the year, whether you're the host/hostess with the most/mostest or planning to travel to your Thanksgiving festivities. But you also need to add taxes to the mix. Now. Before you get all... Read more →


It's that time of year again. Actually, that time was at 2 a.m. today (Sunday, Nov. 3, 2019). That's when most of us said goodbye to Daylight Saving Time and hello to the return of Standard Time. As we deal with the timepiece trickery, a lot of us (me!) suffer a sort of jet lag as our body clocks adjust to the new time and impending earlier arrival of sunsets. But the fall back to Standard Time also is a good reminder that standard is a good thing for millions of taxpayers. A couple of tax standards, the standard deduction... Read more →


Lyft and Uber rides would face a new fee in Seattle to help pay for a public transportation option. (Photo by Daniel X. O'Neil via Flickr Creative Commons) The hubby inherited some gas leases from a distant relative many years ago. It's not quite the same as Texas legend Eddie Chiles' famous urging that "if you don't have an oil well, get one," but the royalties have come in handy. One of the first purchases we made using this money was to buy new bicycles. We got a kick out of fossil fuels paying for a more climate-friendly way to... Read more →


As I was making my usual trip between my mother's and home, I noticed a wide range of prices at gas stations along the way. Heck, I noticed some wide differentials in fueling stops less than a mile apart in my area of Austin. The one consistent factor was that they all were down from earlier this summer. That's not a surprise. Now that the long Labor Day weekend is over, the summer vacation season where most folks still load the family in a car and hit the road is done, too. So what exactly affects the price of gasoline?... Read more →


Filling up photo by Jackson Lavarnway via Flickr CC If you're reading this, you're probably already clock watching. The Fourth of July holiday is less than two days away and, if you've got an accommodating boss, you'll get a nice long weekend. But until then, you're at your desk. When you do finally take off for your July 4th celebrations, you'll likely hit the road. That means you have two concerns. First, how bad will traffic be? Second, what will it cost me to fill up my tank? Spoiler alert, traffic will be crazy. Spoiler alert redux, motorists who live... Read more →


If you're hitting the road for the long Memorial Day holiday, you'll have lots of company. AAA is predicting the strongest kick-off to the summer travel season since 2005, and the second-largest travel volume on record dating back to 2000. Overall, AAA says nearly 43 million Americans will celebrate the unofficial start of summer away from home. For the 37.6 million Americans that AAA says will travel by automobile during some part of the Memorial Day weekend, today, May 24, is not your travel friend. Neither is Friday, May 25. AAA predicts most drivers will experience the greatest amount of... Read more →


That's me in mid-February doing my personal Groundhog Day shadow prediction that warm weather was back to stay. (The full image is on my Instagram page.) I was sooooo wrong. A couple of weeks ago, ecstatic over the return of warm weather and sunshine to Central Texas, I celebrated the arrival of spring. Was I ever wrong. Today is cold, wet — I swear it was sleeting when I ran to my car this morning after yoga class! — and downright dreary. And it's only supposed to get worse, with local meteorologists predicting the latest hard freeze ever for the... Read more →