💐 May 💐 is 💐 here!!! 💐
Those exclamation marks and emoji bouquets are sincere and deserved. I don't know about you, but I'm more than ready for May flowers.
Plus, you've got to love a month that starts with a celebration.
May Pole Dance via GIPHY
After the May Day dances are done, the commemorative days just keep coming. There are well-known ones, like Cinco de Mayo, Mother's Day, and Memorial Day, as well as some more obscure ones, like Pick Strawberries Day, Be Millionaire Day (if only!), and my favorite, Eat What You Want Day.
But even with all these (and more!) celebrations, there's still time to make some money-saving May tax moves. Let's get to it!
May 1: While
May Day isn't a big holiday in the United States, globally the first day of May is a time for celebrating workers' contributions. But that can apply here, too, in connection with some employment-related tax tasks. If you got a big refund or owed more tax than you expected when you filed (or got an extension) last month, today's the perfect time to do
adjust your paycheck withholding.
May 5: ¡
Feliz Cinco de Mayo!
Fiestas are always en vogue in Tejas, but the epitome of them is this Mexican holiday. No, it is NOT Mexican Independence Day, and May 5 tends to spur more festivities here north of the border, especially when it comes to imbibing margaritas. With every Cinco toast, remember that the cost of state and federal alcohol taxes are included in the mixing. Your state tax collector also will raise a glass to your fiscal contribution, since sin taxes usually are a revenue bright spot for many states.
May 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, especially from those Cinco celebrants. But don't forget that those tips are taxable income.
Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.
And you, as the server or delivery person, must account for those tips. If you got at least $20 in gratuities in April, you must report the amount by today by using
Form 4070 to let your employer the total of the tips you took in last month.
May 14: Happy Mother's Day!
If you're just this year making up for pandemic paused family visits (side note: May 18 is Visit Your Relatives Day), give your mom a longer hug on her special day. Love, flowers, and the best of health and happiness to every mother, from the new ones just discovering the joys,
tax and otherwise, of new parenthood to those gracefully maneuvering their Golden Years while getting some
tax-advantaged help from their families.
May 22: Just because you got an extension to file your 2022 tax return doesn't mean you have to wait until the Oct. 16 deadline to finish it. And you might be able to complete all those forms at no cost.
Free File, the online preparation and electronic filing web page for eligible taxpayers created by the IRS' partnership with the Free File Alliance is still operational for, as its name says, free.
This year, the income threshold is adjusted gross income (AGI) of $73,000 or less, regardless of your
filing status. You should be able to find a software that works for you from the
seven tax prep companies that are participating.
May 26: If you're heading out early today to further extend the already long Memorial Day weekend, be sure to plan for added costs, like the price of getting to your holiday destination. Most travelers this weekend that marks the unofficial start of summer will hit the highways, so even though gasoline prices are at the exorbitant levels they were this time last year, pump prices still will take a bite of travel budgets. Maybe that will get you to look more closely at getting an electric vehicle (EV) before your next road trip. Check out the tax rules to see if your new EV comes with a
$7,500 tax credit May 29: This Memorial Day as you honor the military personnel who made the ultimate sacrifice, don't forget about their families. There are some
tax considerations offered survivors of lost soldiers, sailors, and air crew.
Small Business Tax Calendar: Important
filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS'
online calendar page and view the full year's important business and individual tax dates in
IRS Pub. 509.
i never thought this could be possible, taxing cosmetic surgery operations!!!
Posted by: cosmetic surgery Sydney | Sunday, April 24, 2011 at 10:52 PM
Why pay extra tax for looking beautiful. It seems that law body is trying to loot people this is not good at all. If some one want's to look young and beautiful than why charge extra from them I just can't understand and this should never happen at all.
Posted by: dr usha rajagopal | Saturday, February 19, 2011 at 12:46 AM
I absolutely agree that just wanting a facelift does not ensure you are rich...have to check out other things also.It is a personal choice to spend ones money.
Posted by: Atlanta Plastic Surgeons | Thursday, December 02, 2010 at 11:13 AM
That's crap. Lots of people having plastic surgery use carecredit to pay for it. They certainly aren't rich. That was just an all around bad idea. I'm glad it hasn't gone through....yet. But it could in the future. I think those lawmakers are just jealous that plastic surgery patients have the guts it takes to improve their looks and are determined enough to go under the knife to get what they want.
Posted by: CAPlastic Surgeon | Tuesday, September 28, 2010 at 10:32 AM
Great article. I find it very frustrating how Washington feels it's okay to tax everything.
Posted by: Cosmetic Surgery Philadelphia | Tuesday, August 03, 2010 at 12:26 PM
Doctor's are already charged with taxes for their professions, consumers/people pay's taxes every payday, government shouldn't ask for taxes on this kind of matter.
Posted by: Cosmetic surgeon Los Angeles | Wednesday, June 02, 2010 at 11:41 PM
I agree, taxes should be equal to all. Not all surgery is for vanity purposes only, it is also used to improve confidence on oneself for work purposes. Cosmetic'>http://www.drcalvertmd.com">Cosmetic
Posted by: Cosmetic Surgery | Sunday, February 28, 2010 at 06:22 PM
That's it! being vain really is a pain in the pocket.
Posted by: Plastic Surgery Los Angeles | Tuesday, January 12, 2010 at 04:29 PM
Keep up the great blogging!!!
San Antonio Dentist
Posted by: john | Tuesday, November 24, 2009 at 01:58 AM
Clearly, the government will COST you money. And free markets will SAVE you money. Example. Professional Teeth Bleaching. You pay: 110% with the new tax. 50-75% in a free market economy, through available discounts. See http://dentalcool.blogspot.com/2009/11/cosmetic-teeth-whitening-dental-plan.html Your pick. Now of course, you don't want companies in bed with the government, that is just not free markets anymore.
Posted by: Katterine re: cosmetic dental plan vs TAX | Monday, November 23, 2009 at 01:23 PM
This has nothing to do with race or gender. this is a take over of the american people so the goverment can control our society. I find this crazy, insurance companies wont pay for the surgery, it is paid by the individual and with the assumption that the money they are useing is from working and has already been taxed to the hilt. this is all about goverment control. so whats next vacation tax??? If this goverment passes this who's next? If they would stop wasteing tax payers money and focus on our country we would be ok, but instead we go in and bomb the hell out of china, iraq etc then pay to rebuild them so our tax dollars go towards the destruction of other countries then the rebuild of those countries. plastic surgery tax, ha, I never thought I would be alive to hear this one and I am 39 yrs old. and I may want that option to have a surgery, just like 3 years ago I had lasik for my eyes and had to finance that if it would have had a tax I would have never been able to afford the procedure. soon they will have a telivision tax for anyone who has cable or dish. tax more on alcohol, tabaco. I think if we let this tax pass with out a fight soon they will tax medications! eating out, etc. for any of you whom believe this is ok, it's not, this is not about the luxury of changing ones appearance or improving it this is all about GOVERMENT CONTROL. what happened to the land of the free, we are all caged like animals with the satelite cameras etc. some of you mention taxing other things and events, NO. the Goverment needs to take a pay cut and fund the defecit, do you really think the house, senate etc worry about food, electric, gas, living expense. look at the payroll of our goverment. why should we the american people suffer any more, WHY SHOULD WE TRY TO CONSIDER SOME OTHER CRAZY TAX OVER THIS ONE. They take and take from us with empty promise and hope! look around yourselves we are not free, I know now in my life time I will be on this earth to see GOVERMENT LOCKDOWN. boarders closed, guidelines and new rules (laws) as well as curfews around the nation. we will have the rich and the poor as the poor will die off and the mass production of human kind will be limited. how much is a marraige license??? why not triple that fee, marraige this day and age is nothing because it is easy to do and easier to divorce. taxing couples for each child they produce, taxing the elderly for medications they need to survive so they wont be able to purchase it and they will die sooner saving the goverment from supporting them any longer. I disagree with all of this. I believe we should stand as one nation and do not allow the goverment to take over our personal lives. I know I will not go down with out fighting every tax they try to impose because of poor spending on the goverments part! I am proud to be an american but who ever is laying in bed at night dreaming up these crazy ways to raise money to save the goverment is insane! when is enough going to really be enough??? some may not agree with my view on this but I do, and it will boil down to a controlled society and if you dont blend well with it and conform then your gone! I'm going to go write a book now a best seller, I bet they will try to tax me on every letter I write. to anyone who reads my comment peace be with you and believe in yourself and what you believe is right and wrong.
Posted by: West | Sunday, November 22, 2009 at 04:43 PM
Really liked this post. I will have to bookmark this site to tell my friends.
Posted by: denver plastic surgery | Tuesday, October 27, 2009 at 11:18 AM
As far as I see it, when an industry does well, the government is just so eager to tax it. It only means more revenue to abuse.
Posted by: KL Karrington | Wednesday, October 21, 2009 at 12:36 AM
It is unjust to single out one industry for higher taxes if that industry is not harmful to society. What harm does cosmetic medicine commit? What does it have to do with healthcare reform any more than the automobile or the computer industry? If they want to raise taxes do it across the board rather than scapegoating individuals.
Posted by: Alex | Saturday, August 01, 2009 at 02:37 AM
The medical aesthetics industry is under attack!
The US Government is pushing for 10% Plastic Surgery Tax on cosmetic procedures which are not deemed medically necessary.
This includes Botox, Liposuction, Rhinoplasty, Teeth Whitening, Face Lift, Tummy Tuck and more!
Your action is needed now! Help us stop the 10% Plastic Surgery Tax!
Sign the STOP Bo-Tax petition today!
http://www.stopbotax.org/
Posted by: Stop Botax | Friday, July 31, 2009 at 01:02 PM