Jan. 1: Once more for the official monthly tax moves — Happy New Year! Some people are champing at the bit to get their taxes filed, mainly because they are expecting an Internal Revenue Service refund. But remember, you need to get all your tax documentation before you can accurately complete your Form 1040. And even if you send the form(s) early, the IRS won’t start processing them until later this month. So, take a deep breath. We’ve a ways to go yet.
Jan. 6: It's the first official work week of 2025, with folks who took long holiday breaks finally returning to the office. Once you get settled at your desk, you might want to take some time for a couple of tax-related tasks that could pay off, this year and after you’re done with the 9-to-5.
First, check your paycheck withholding and, if necessary, adjust it. That might be necessary if you’ve experienced a major life change.
Second, if your workplace has a 401(k) plan and you’re not using it, sign up as soon as possible. Then contribute as much as you can. This will give your retirement account more time to grow tax-deferred if it’s a traditional 401(k) or tax-free if it is a Roth version.
Jan. 10: Is your adjusted gross income (AGI) $84,000 or less, regardless of your filing status? Then you qualify to use Free File, which became available today. The same eight software companies that participated last year are back for the 2025 filing season.
If your income is too high, you still can file for free by using Free File's Fillable Forms option. That will be available on Jan. 27 when the full 2025 tax season kicks off and the IRS starts processing all returns that were filed before then and that have been in a holding pattern.
Jan. 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 get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.
Whether you're dining at your favorite eatery or 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 if you got at least $20 in gratuities in December for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.
Jan. 15: Today is the due date for the final estimated tax tax payment for the 2024 tax year. This payment covers the earnings you got last October, November, and December that weren’t subject to withholding. You can pay your estimated amount electronically, or mail your check payment and voucher 1040-ES to the IRS in an envelope postmarked today.
Jan. 20: Today is Martin Luther King Jr. Day. Every year on this federal holiday, millions of people commit to a day of service.
Click image to find out ways
you can volunteer on MLK Day. Taking time on the Rev. Dr. King's holiday to volunteer at a nonprofit isn't tax deductible, but some costs associated with volunteering could help reduce your tax bill if you itemize.
Jan. 20: Tonight also is title time. The 2025 NCAA College Football champion will be crowned this evening in Atlanta. It’s taken a while to get here. The championship playoff bowl games system was extended, with qualifying matchups starting on Dec. 21, 2024. It's been a fun run for college football fans and for those who bet on the games thanks to the Supreme Court's 2018 ruling that allowed states to accept legal sports wagers, including on college competitions. If you're one of those gamblers and your game picks pay off, remember that you'll owe taxes on your winnings when you file your 2025 return next year.
Jan. 27: Tax Season 2025 officially starts. That includes processing of tax returns filed earlier, whether via commercial software, tax preparers, IRS Free File, or IRS Direct File, the IRS’ own free online tax prep and e-filing program. In addition to more than double the Direct File participating states from last year, the IRS operated site will offer more options that apply to more taxpayers’ situations.
Jan. 31: Wow! The first month of 2025 is over? So soon? Time really does fly when you're having tax fun. We'll keep it going here in this new year with new Tax Moves to Make each month, which you also can find on their monthly tax tips pages. January’s tips page is already is filling up!
Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. The IRS is updating the online version. Until that link is operational, you can get 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