WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

* The IRS has finally released the 2025 Standard Mileage Allowance rates. “IRS increases the standard mileage rate for business use in 2025; key rate increases 3 cents to70 cents per mile” –

“Beginning Jan. 1, 2025, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

70 cents per mile driven for business use, up 3 cents from 2024.

21 cents per mile driven for medical purposes, the same as in 2024.

21 cents per mile driven for moving purposes for qualified active-duty members of the Armed Forces, unchanged from last year.

14 cents per mile driven in service of charitable organizations, equal to the rate in 2024.

The rates apply to fully-electric and hybrid automobiles, as well as gasoline and diesel-powered vehicles.”

* Josephine Nesbit provides a guide for “How To File Your 2024 Taxes: Step-by-Step Guide for Accurate Tax Filing” at MSN.COM.

* It’s that time of year again – time for the 2024 PNC Christmas Price Index – (highlight is mine)  

“On the first day of Christmas, holiday gift giving begins with the traditional gift of a Partridge in a Pear Tree. By the first day of January, True Love pays the credit card bill reflective of the increase in the cost to buy that gift and the 11 others in PNC’s Christmas Price Index. The index – a whimsical tabulation of the price to gift all 12 items in the song The Twelve Days of Christmas - will cost $49,263.47 in 2024, a 5.4% increase from 2023.”

* Russ Fox tells us “Nominations Due for the 2024 Tax Offender of the Year” at TAXABLE TALK.

Who would you like to nominate?

THE LAST WORD

Growing up the Christianity I was taught in church, Sunday School and at home was one of peace, love, equality, understanding, and empathy.  In my youth Christian social, political, and community action had nothing to do with “evangelizing” or spreading, or enforcing, the word (distorted or otherwise) but just doing good works - promoting civil rights and helping the underprivileged – based on the actual teachings of Christ.  I am not religious, but this true Christian upbringing helped to shape my life and actions.

Sadly, it appears this is no longer the Christianity taught today.

TTFN

WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

* Of course, New Jersey is on the ten worst list in the Tax Foundation’s report of “The best and worst states for taxes in 2025”.

* Kay Bell offers some good advice in her recommendation of “10 tax moves to make this December” at DON’T MESS WITH TAXES.

* Not a tax issue, but Russ Fox reports on a development of interest to small business owners worth mentioning – “Corporate Transparency Act/BOI Reporting Enjoined Nationally by Texas Court”.

FYI – BOI reporting is NOT a tax form or tax report or tax issue, it is a legal form/issue.  If you are required to file this DO NOT expect or ask your tax pro to do it for you!  It ain’t part of his or her job.

* The 2024 Form 1040 and 1040-SR and Schedules are now available online at the IRS website.  Click here and enter Form 1040 at "FIND"

* And The 2024 NJ-1040 and instructions are also available online at the NJ Division of Taxation website.

THE LAST WORD

 With apologies to Jeff Foxworthy –

If you think Trump knows his arse from a hole in the ground about ANYTHING – you might be a moron.

If you think Trump cares one ounce about anyone or anything but himself – you might be a moron.

If you think Trump is an intelligent and acceptable choice for President – you might be a moron.

Forget might be – you ARE a moron!

TTFN

WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

* Did you hear – “FTC Action Stops H&R Block’s Unfair Downgrading Practices and Deceptive Promises of ‘Free’ Filing” –

“Proposed settlement would require company to pay $7 million for consumer redress and make changes for consumers in tax filing seasons 2025 and 2026.”

* Kay Bell, the yellow rose of taxes, offers a series of posts on “Tax Turkey to Avoid” #1 – “Paycheck withholding review and adjustment”.

#2 – “Not establishing a bunching strategy.”

#3 – “Not using, therefore losing, your medical FSA money.”

And # 4 – “Overlooking alternative ways to give to charity.”

* Joe Kristan reports “IRS Sets 1099-K Threshold at $5,000 for 2024” at the EIDE BAILLY BLOG -

“The IRS today announced that the threshold for third-party payors such as Venmo and Paypal to issue Form 1099-K will be at $5,000  in payments for 2024.”

* No surprise here.  NJ DIGEST tells us “NJ Residents Pay More in Taxes Than Anywhere in Nation, New Study Finds.”

I am glad I now live in Pennsylvania.

THE LAST WORD

The Washington Post explains “The greatest threat facing the United States is its own president” -

“Not only does the president diminish the office with his pettiness; he also shows disregard for constitutional principles including free speech, freedom of religion and separation of powers, and he operates as though he were above ethics laws. Daily he shows he lacks the character, discipline, intellect, judgment or respect for the office to be president of the United States."

TTFN

THANKSGIVING 2024

 

My annual medical check-up and blood tests indicate I am healthy.

Other than that, there is little to be thankful for this year.  

Ignorance, racism, and bigotry has elected the worst possible choice – a proven crooked and corrupt, deplorable and despicable, demented and delusional, and ignorant and incompetent malignant narcissist and wannabe king – as President of the United States, which may well be the beginning of the end of American freedoms and democracy.

 

WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

* The IRS has released the 2025 inflation-adjusted numbers for Retirement Accounts.  Click here.  Again, I will prepare my WHAT’S NEW FOR 2025 report when all the numbers are in.

* The NJ Division of Taxation has announced “ANCHOR Application Deadline Extended to 12/6”.

* The IRS provides a “Healthcare FSA reminder: Employees can contribute up to $3,300 in 2025; must elect every year” -  

“An employee who chooses to participate in an FSA can contribute up to $3,300 through payroll deductions during the 2025 plan year. Amounts contributed are not subject to federal income tax, Social Security tax or Medicare tax.

If the plan allows, the employer may also contribute to an employee's FSA. If the employee's spouse has a plan through their employer, the spouse can also contribute up to $3,300 to that plan. In this situation, the couple could jointly contribute up to $6,600 for their household.

. . . Eligible employees of companies that offer a health flexible spending arrangement (FSA) need to act before their medical plan year begins to take advantage of an FSA during 2025. Self-employed individuals are not eligible.”

* On Veteran’s Day Kelley R. Taylor answered the question “How Does Being a Veteran Impact Your Taxes?” at KIPLINGER.COM -

“Retired military service members may be eligible for tax benefits offered by the federal government and some states.”

* The Centers for Medicare & Medicaid Services lists “2025 Medicare Parts A & B Premiums and Deductibles” -

“In 2025, the standard monthly premium is $185, up $10.30 from $174.70 in 2024.”

THE LAST WORD

Forget politics and policies.  Forget the price of eggs.  Trump is the absolute worst human being to ever seek, or hold, the office of President of the United States.

Trump is totally worthless, completely devoid of character, integrity, honor, humanity, sympathy, and empathy.  He does not possess a single redeeming positive human quality or value.  Trump does not care one ounce about anyone or anything but himself and has never performed a single totally unselfish act in his entire adult life. 

Trump is truly ignorant and incompetent, crooked and corrupt, and deplorable and despicable.

In our country’s history no one single individual has done more damage to America than Donald J. Trump.        

We must continue to vocally and aggressively oppose, denounce, and fight Trump and his dangerous agenda 

TTFN

THANK YOU FOR YOUR SERVICE!

 

On this Veteran's Day we must not only thank veterans for their service, but also vow to make sure their sacrifices were not in vain by continuing to openly and aggressively oppose, denounce, and fight Trump and today's Republican Party and his/their racist and repressive, dangerous and destructive agenda. 

THE BEGINNING OF THE END OF AMERICA AS WE KNOW IT!

 

Wednesday, November 6, 2024 is a truly sad day in the history of America and the world.  It may well be the beginning of the end of American freedoms and democracy. 

A majority of Americans preferred a worthless crooked and corrupt, deplorable and despicable, delusional and demented, ignorant and incompetent totally self-absorbed demagogue and wannabe dictator over an intelligent, experienced and competent woman. 

I put a huge blame for this disaster on a media that treated Trump as a “normal” Republican candidate in its reporting and basically ignoring his criminal and treasonous history. 

Trump is NOT a McCain, a Romney, a Dole, or a Bush.  Trump is a convicted felon, an indicted traitor who instigated an armed assault on the Capital and stole many boxes of top-secret documents for personal use and gain.  A jury determined Trump to be a rapist.  Studies have reported that Trump’s incompetence was responsible for at least 40% of COVID deaths during his tenure.    

While votes are still being counted in some states, it also appears today’s racist and repressive Republicans have gained a majority in the Senate and maintained their majority in the House.

Sadly, there are more morons, racists, and bigots in America than intelligent and patriotic individuals with a conscience.  

There was absolutely no intelligent or acceptable reason for anyone to vote for Trump.  Every person who voted for Trump is a traitor to American democracy, the Constitution, and true American values.

The Republican campaign was truly deplorable and despicable.  The TV ads that bombarded my home state of Pennsylvania were full of lies and clearly pandered to the fear and hatred of Latin-American immigrants and transgender individuals.

In July 2026 instead of celebrating 250 years of American democracy we may be mourning its death.

We must not give up.  We must continue to vocally and aggressively oppose, denounce, and fight Trump and his dangerous agenda and today’s Republican Party, and call for aggressive prosecutions of Trump in federal court and a prompt and appropriate sentencing for Trump’s 34 felony convictions in New York.