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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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August 2, 2023   |   2023
2023 Issue 1-Yes NO!! Maybe So . . .

On August 8, 2023 Ohio will have a special election for Issue One which addresses Ohio Constitutional Amendment Procedure. Under current Ohio law, Ohio citizens can petition for an Ohio Constitution amendment. Amendments are adopted if: 1. if the Secretary of State receives the proposed amendment with 1,000 verified signatures from Ohio citizens qualified to … 2023 Issue 1-Yes NO!! Maybe So . . .

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January 20, 2023   |   2023
2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

pair of hands holding a ball of cash

Hopefully quicker than last year. . . according to the IRS refund cycle Chart (see below), 2022 Tax Returns (filed in 2023) with direct deposit should see refunds within two weeks.  Careful! this time frame is an estimate.  Technical difficulties, computer issues, Congregssional action etc could slow down processing times.   2023 IRS Refund Standard … 2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

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January 20, 2023   |   2023
Tax Season Starts . . . Postage goes up. .

pile of gold and silver coins on a black table

IRS will start receiving returns January 23, 2023. Postal Service is feeling the inflation crunch. Postage rate for 1st class mail will increase Sunday (January 22, 2023) to .63 for a first class letter.

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December 30, 2022   |   1099
Tax newsletter update–1099K rules

  Early Christmas gift. . . On December 23, 2022 the IRS decided to delay implementation of the 1099K reporting for tax year 2022. Translation: The American Rescue Act (2021) required E commerce platforms (e.g. Ebay, Mercari, Amazon) to provide a 1099K form to sellers receiving more than $600 through the platform website.    The … Tax newsletter update–1099K rules

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December 30, 2022   |   2022
Facts and Figures

From the Christmas Tax Newsletter, published December 14, 2022: FACTS & FIGURES, TBA=To be announced Tax Year 2022                       2023 Social Security COLA                                                                    5.9%                                   8.7% Part B premium- income < $85,000                                          170.10                             164.90 Early, … Facts and Figures

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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

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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?

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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

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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. . . 

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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

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