I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.

Find Out More

My Tax Blog

September 28, 2022   |   2022
Energy Jolts, Inflation Bolts, Tax Hikes and Pending Legislation

Energy Jolts. Energy Credit is back. Effective for 2022 –2032 tax years. Part of Inflation Reduction Act of 2022. Requires product availability and affordability. Credit is 30% of purchase price for energy star certified windows, exterior doors, insulation, water heater, biomass stoves, furnace or boiler installed during the year. No credit for Energy Star roof Energy Jolts, Inflation Bolts, Tax Hikes and Pending Legislation

Continue Reading

August 22, 2022   |   2022
What’s in the Inflation Reduction Act of 2022?

This is the repackaged “Build Back Better Junior”, passed August 16, 2022 and WON’T reduce inflation. It’s smoke and mirrors. Little/short lived savings. Lot of Government spending and power grabs. If have time, the full text download is available here. It’s light reading– only 273 pages (Sarcasm). Summary of major provisions. Medical: Obamacare: Extends Medical What’s in the Inflation Reduction Act of 2022?

Continue Reading

June 15, 2022   |   2022
Midyear Mileage Rate Increase

Oustide gas station at night. trick parked by one of the pumps

Midyear Mileage Rate Increase The pain of the gas pump has gotten so bad that the IRS wants to help with a midyear mileage rate increase (Yes its only 4 cents . . .). Translation: larger tax deduction for business and medical mileage. Midyear mileage rate changes are rare. . . New IRS Mileage rate Midyear Mileage Rate Increase

Continue Reading

May 21, 2022   |   2022
Legislative Update-Codifying Roe

  The bill that would make Roe vs Wade into Federal law did not pass the Senate. . . bill is dead for now. . . let’s us continue to Think, Speak and Act . . . (John Adams)   Thanks for your Prayers and Contacts. . . 

Continue Reading

May 11, 2022   |   2022
Tax Season and Congressional Legislative Update

Yesslow 4 way stoplight hanging in midair. Red light is illuminated

  No new tax legislation seen yet. . .  After tax season housekeeping: Refunds: Running 3-4 weeks. To check the status of your Electronically filed tax return/refund: Phone : 1-800-829-1040 or (call early in morning)       Online: www.irs.gov/refund IRS will NOT release refund information to tax preparer. Ohio refund may come before Federal or IRS refund. Tax Season and Congressional Legislative Update

Continue Reading

December 9, 2021   |   2021
Facts & Figures 2021 Tax year & Some For Tax Year 2022

calculator and notepad hand with pen is writing on notepad

  Build Back Back Better (“BBB”) is still being negotiated So here is something a little more concrete: The numbers and limits for 2021 tax season: FACTS & FIGURES, TBA=To be announced                                          Tax Year 2021                 2022 Social Security COLA                                                                                             1.3%                           5.9% Part B premium- income < $85,000                                                                 Facts & Figures 2021 Tax year & Some For Tax Year 2022

Continue Reading

January 20, 2021   |   2020
Need Refund? Patience Please!

pile of $1.00 bills

  IRS is going to be running a little “late” this year. According to the information received as of today (January 15, 2021), IRS will start processing 2020 Tax Year individual Tax Returns February 12, 2021.  Tax Returns can be prepared before February 12 processing date. Estimated refund processing times for returns that refund extra Need Refund? Patience Please!

Continue Reading

August 14, 2019   |   2021
BitCoin/Virtual Currency Owners BEWARE IRS Has Its EYE on You . .

engraving part of face and eye from US currency

Virtual Currency may not be as private as previously thought. The IRS is reviewing Virtual Currency holders (e. g. Bitcoin and related currencies) tax returns because these taxpayers may not have reported income (or paid taxes) when the currency was redeemed (used to buy goods and services), traded or sold. The IRS is sending a BitCoin/Virtual Currency Owners BEWARE IRS Has Its EYE on You . .

Continue Reading

June 27, 2019   |   2020
I Didn’t File My Taxes . . .What Now?

woman setting at computer desk holding her head

Yes, it’s after April 15th. However, “forgetting” to file isn’t fatal if it’s addressed quickly. This article is limited to individual Federal Tax filing requirements. State and cities may have additional tax filing requirements. Question 1: Is filing Federal Tax Return required? Not required  for self employed taxpayers with income under $400.00 OR For taxpayers I Didn’t File My Taxes . . .What Now?

Continue Reading