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.

VOTE LIKE YOUR LIFE DEPENDED ON IT – BECAUSE IT DOES!

 

It is vitally important that every intelligent and patriotic American vote tomorrow. 

And it is equally important that you vote against EVERY Republican candidate for EVERY office at EVERY level.  

I am not exaggerating when I say the greatest enemy of and threat to America, the American people, American freedom and democracy, and true American values is Donald J. Trump and today’s Republican Party.

Today’s Republican Party is totally controlled by the racist and repressive fake Christian “Evangelicals” of the Religious Right, bought and paid for by the NRA, and completely embraces as its leader crooked and corrupt, ignorant and incompetent malignant narcissist Donald J. Trump.

Trump is a totally worthless human being, completely devoid of intelligence, character, integrity, honor, humanity, sympathy, and empathy who does not possess a single redeeming positive human quality or value.  He 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.  In our country’s history no one single individual has done more damage to America than Donald J. Trump.      

The 2024 elections are not about progressive or liberal vs conservative but about freedom and democracy vs racism, repression, and fascism. 

Today’s Republican Party is not conservative.  It has totally abandoned true conservative and “traditional” Republicans.  Its platform is contrary to the true conservative values of individual freedom and limited government.  It wants to legislate what you can read, what you can think, who you can love, how you can act, and what public schools can and cannot teach.  It supports banning books, censoring history, and suppressing the teaching of anything that does not strictly conform to extreme fundamentalist white Christian nationalist propaganda.

Today’s Republican Party does not want a government based on freedom, equality, and the Constitution.  It wants one based on repressive distortions of Christian doctrine, which have nothing to do with the true teachings of Christ.

Absolutely NOTHING is more important for the future of our country than keeping Trump out of the White House and keeping today’s Republicans from controlling Congress and state legislatures.  If Trump and the Republican Party win tomorrow it will truly be the beginning of the end of America as we know it!

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

 

* A client recently emailed me to ask if he should apply for an “IP PIN” - Identity Protection Personal Identification Number – since he learned his Social Security Number was compromised as part of the recent National Public Data hack (to find out if your SSN was included in the data breach click here).

My experience with an IP PIN in the past was the very few times the IRS issued one to a client due to a potential identity theft discovered by the Service.  I was not aware that a taxpayer could request such a number.  Apparently, it can.  And “IRS encourages all taxpayers to sign up for an IP PIN for the 2025 tax season” –

“As the 2025 tax season approaches, the IRS encourages all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). . . Signing up early will ensure taxpayers have extra safety by having an IP PIN to electronically file their returns when the filing season begins in 2025.”

As I said to my client – “It couldn’t hurt”.

* More proof that Trump doesn’t know his arse from a hole in the ground about anything, especially economics, from Andrew Leahey at FORBES.COM – “Trump’s Tariffs Would Cost Trillions—And We Learned This A Century Ago” (highlight is mine) -

“Trump’s 20% tariffs would take a massive toll on American households—especially those least able to afford it. History has shown us the damage that tariffs can do, and it’s a lesson we would be wise to remember.”

* The TAX FOUNDATION has just released it's “2025 State Tax Competitiveness Index”.

The 10 best states in the 2025 Index:

1.   Wyoming

2.   South Dakota

3.   Alaska

4.   Florida

5.   Montana

6.   New Hampshire

7.   Texas

8.   Tennessee

9.   North Dakota

10.Indiana

The 10 worst states in the 2025 Index:

   41. Massachusetts

   42. Hawaii

   43. Vermont

   44. Minnesota

   45. Washington

   46. Maryland

   47. Connecticut

   48. California

   49. New Jersey (no surprise - rdf)

   50. New York

THE LAST WORD –

Forget politics and policy. 

Trump has proven himself time and again to be the absolute worst human being to seek, or hold, the office of President in US history.

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

TTFN