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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.

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My Tax Blog

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?

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

December 30, 2021 | 2021
Year End Tax Savings. . . for 2021

Man & woman setting at desk with papwers. Man is covering face with hand head lowered. Woman is covering her mouth with her hand

The year is over tomorrow and taxes were back burnered. . . (no pressure). What to do, don’t want to owe . . . As requested. . . For individuals: Pay outstanding medical bills. Keep track of total medical paid (doctor, hospital, labs, prescriptions, medical mileage, medical insurance paid out of pocket etc) for … Year End Tax Savings. . . for 2021

October 7, 2020 | 0
Medical Expense Tax Deduction When Don’t Have Enough to Itemize

In certain circumstances, medical expenses can be deducted on the tax return without itemizing. To see if that option is a good fit for you, some questions: Do you have medical insurance coverage through work or through a family medical insurance plan? Is the medical insurance plan deductible (out of pocket) more than $1,400 for … Medical Expense Tax Deduction When Don’t Have Enough to Itemize

July 19, 2019 | 0
IRS Loves Seniors—Form 1040SR

gransparents outside holding young children

Are you over age 65? Congress and the IRS are thinking of you . . . They’re developing a new Tax Form just for you for 2019 Tax year. It’s called Form 1040SR. It is styled much like the discontinued Form 1040EZ. The differences: It’s 2 pages It’s for Seniors age 65 and older No … IRS Loves Seniors—Form 1040SR

May 29, 2019 | 0
Saving $ on Health Insurance?

Health Insurance costs are rising. One way to reduce health insurance premiums is to enroll in a high deductible health insurance plan and to pair that plan with a (tax deductible) Health Savings Account. For 2019 A high deductible health insurance plan has deductible of at least $1,400 (for individual coverage) or $2,750 (for family … Saving $ on Health Insurance?

October 2, 2018 | 0
Track that Mileage Expense!

Reminder, track those auto expenses. Every little bit adds up. There are two ways to calculate auto expenses: actual expense and mileage. Actual expense method includes auto maintenance cost, (oil changes, tire rotations etc), minor repairs (tires, windshield wipers, etc), auto insurance, personal property taxes, garage rent, gas, oil, fluids, depreciation, tolls, vehicle registration (tags) … Track that Mileage Expense!

Welcome

My Tax Blog

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

June 15, 2022 | 2022 Midyear Mileage Rate Increase

December 30, 2021 | 2021 Year End Tax Savings. . . for 2021

October 7, 2020 | 0 Medical Expense Tax Deduction When Don’t Have Enough to Itemize

July 19, 2019 | 0 IRS Loves Seniors—Form 1040SR

May 29, 2019 | 0 Saving $ on Health Insurance?

October 2, 2018 | 0 Track that Mileage Expense!