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

The last BUZZ of 2025!

* The 2025 NJ state income tax forms and instructions available on the NJ Division of Taxation website.

The only change to the 2025 NJ-1040 I could find is a question about Digital Assets at the top of Page 1.

The final version of the 2025 Form 1040 and 1040-SR, as well as New York and PA state tax returns, are not yet available online.

* The TAX FOUNDATION identifies “State Tax Changes Taking Effect January 1, 2026”. 

* It’s that time of year again – time for “PNC's 2025 Christmas Price Index®: Holiday Cheer Comes at a Premium!” (highlights are mine) -

“The cost of celebrating Christmas is climbing again. Now in its 42nd year, the PNC Christmas Price Index® (PNC CPI) reveals that the cost of the gifts from the classic holiday carol ‘The Twelve Days of Christmas’ has risen 4.5% compared to last year, outpacing the Bureau of Labor Statistics' Consumer Price Index (BLS CPI) October year-over-year reading of 3.0%.

The PNC CPI, launched in 1984, is a light-hearted take on the BLS CPI and measures the change in prices consumers could expect to pay for True Love's gifts. Data is compiled by PNC's Investment Office using sources from across the country, including dance and theatre companies, hatcheries, pet stores and others. Overall, the 12 gifts that comprise the PNC CPI increased to a tree-topping $51,476.12 this year.”

The biggest percentage jump is the 5 golden rings – up 32.5 % from 2024.

* The IRS has finally released the 2026 Standard Mileage allowances -

“Beginning Jan. 1, 2026, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

·  72.5 cents per mile driven for business use, up 2.5 cents from 2025.

·  20.5 cents per mile driven for medical purposes, down a half cent from 2025.

·  20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces (and now certain members of the intelligence community), reduced by a half cent from last year.

· 14 cents per mile driven in service of charitable organizations, equal to the rate in 2025.”

The charitable rate is set by Congress and hasn’t been increased for several years.

TTFN