🎆 Happy 🎉 New 🥂 Year! 🎆 via GIPHY
Hello 2023! I cannot tell you how happy I am to see you! I know, I said that about 2021 and 2022, but I really, really mean it. And I'm hoping you reciprocate, you brand spanking new year, on the personal front by letting go of COVID-19, and, on the tax side, by making this the year that taxes also get back to normal. Don't laugh. A gal can hope!
Jan. 1: Once more for the official date — Happy New Year! One way to make things more enjoyable on the tax front is to get organized this month. Early this month. It will help you keep track of the myriad tax documents — W-2 earnings statements, 1099 forms, charitable donation receipts, year-end account statements — that will soon be on their way to your email or snail mail box. You'll need those (and more) to file your 2022 tax return as soon as the Internal Revenue Service starts accepting them.
Jan. 3: It's the first official work day of 2023. It's also a deadline for employers, including those who are self-employed, who took advantage of the COVID relief option in 2021 to defer the employer's portion of the Social Security payroll tax; that's 6.2 percent of each worker's wages. If you didn't remit thr taxes before the end of December, today is the absolute final due date for paying the balance of those postponed tax collections.
Jan. 6: It's Friday, the end of the first holiday-shortened work week of 2023. Even though most of us are thinking about filing our 2022 returns when the IRS opens filing season later this month, we also need to start our 2023 tax planning. Start with the inflation adjustments that apply to a variety of tax situations. You can find this year's figures in the ol' blog's 10-part tax inflation series.
Jan. 9: Tonight, TCU's Horned Frogs and Georgia's Bulldogs face off at SoFi Stadium in Los Angeles to decide the men's college football championship. Thousands of fans are rooting for their teams. Even more people with no personal connections are betting on the game, thanks to the Supreme Court's 2018 ruling to allow states to accept sports wagers. If you're one of those bettors and your pick pays off, remember that you'll owe taxes on your winnings. The good news is that you won't have to share your luck with Uncle Sam until you file your 2023 return next year. The better news is that there are ways to reduce your taxable winnings.
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 got lots of financial thanks for doing your job well, but remember 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.
If you got at least $20 in gratuities in November, you must account for the tips today by using
Form 4070 to report last month's tips total to your employer.
Jan. 13: It's the first Friday the 13th of 2023. That might not worry you, but even non-superstitious folks are frightened a bit by taxes. However, on this or any other day, don't fear, or fall for, these
13 scary, but wrong, tax myths.
Jan. 16: Every
Martin Luther King Jr. Day, 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 charity isn't tax deductible, but some costs associated with
volunteering could help reduce your tax bill if you itemize.
Jan. 17: Today is the due date for the final
estimated tax tax payment for the 2022 tax year. It's usually on the 15th, but that fell on Sunday. Then Monday was the federal MLK Day holiday. So the final estimated tax payment deadline was shifted to the next business day, Tuesday, Jan. 17.
Jan. 17: This date isn't firm yet, but the IRS and its Free File Alliance partners usually offer their no-cost online tax preparation and electronic filing program Free File around the middle of January. When the special
Free File website at IRS.gov is available, take advantage of it if you qualify.

Free File last year was open to taxpayers whose adjusted gross income was $73,000 or less, but that earnings limit should be bumped up a bit for the 2023 filing season. Whatever the amount, the income level applies to all
filing statuses.
Jan. 23: If you make too much to use Free File, and don't want to use its Free Forms option, you always can purchase your own tax prep software or high a tax pro to handle your taxes. If you looking to hire someone, get to it now. At this point, if you can
find a tax preparer taking new clients, you'll be at the end of the filings list. But at least you'll be on the list.
Jan. 27: It was this week last year that the IRS started accepting and, more importantly, processing tax year returns. If you plan to be among the earliest of filers, you need to make sure you have all the necessary information and documentation. Check out
this list of the statements, documents, and forms you'll need before you start work on your return.
Jan. 31: Wow! The first month of 2023 is over? 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 already is filling up!
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.
Eric,
First and foremost, I'll put it straight out there, I dislike large government, it makes no difference it is ran by O or W. I understand the need for police, fire, teachers, military etc., but do I think the the hundreds of agencies are necessary? Absolutely not (want a full naseauting list of those agencies: http://www.usa.gov/Agencies/Federal/All_Agencies/index.shtml)
"As far as cosmetic procedures being "essential" or not was pretty much determined by the medical and insurance industries."
By your very words, the gov't should be deciding what is essential not the medical or insurance industry. You mention food, but what about shelter? Hotel Stays are taxed; so is cap gains on homes (over the 250/500K exemption); Why isn't Rent tax deductible?
"The fact of the matter is that certain items have to be taxed in order to support government operations and keep the country running."
Agreed. But why not a 40% sin tax on beer like is done with cigs? Why not 10% tax on soda? Why not a 2% tax on every video game? Why are you alright with attack botox (never had it nor am I related to any surgeon)?
I'd rather see a clean up of those hundreds of agencies mentioned above. Audit them figure out the waste!
"The items that are deemed most essential are generally not taxed at all such as groceries (not prepackaged good but raw products that need to be prepared into a meal), and in many areas clothing items up to a certain price-point."
This is decided location to location - there is tax on some foods in NY that wouldn't have a tax in CT. That is why it is known as a local sales tax.
"Oh, and here's the kicker: people CHOOSE the government by voting on senators, governors, mayors, president so don't go blaming the government, blame the majority of voters who put this current regime in place."
I am not sure what your point is... I understand the workings of a republic. I am not BLAMING anyone when I responded to your comment on this great post; rather, I was simply stating that just because YOU or a couple of senators believe this item to be a non-essential item does not mean you should tax it for the purpose of increased spending. Simply put, Stop Wasteful spending.
Or maybe we should get another Czar - called the wasteful spending czar, of course that person would have to have some skelaton in their past where they were in fact guilty of wasteful spending. Sorry, had to take that last zing.
Posted by: Evan | Thursday, October 01, 2009 at 01:19 PM
I agree with this. The fact that such procedures (unless necessary to correct a defect) are not even covered by medical insurance is a telling sign of the necessity of these procedures versus medically necessary procedures.
The fact of the matter is that certain items have to be taxed in order to support government operations and keep the country running. Without taxes, where would governments get the funding for school systems and public servants such as police, firefighters, and paramedics? The items that are deemed most essential are generally not taxed at all such as groceries (not prepackaged good but raw products that need to be prepared into a meal), and in many areas clothing items up to a certain price-point. Oh, and here's the kicker: people CHOOSE the government by voting on senators, governors, mayors, president so don't go blaming the government, blame the majority of voters who put this current regime in place.
Posted by: Best | Thursday, October 01, 2009 at 04:35 AM
Actually, Evan, it would appear from the current state of the economy that business consultants as well as financial planners would have been of great benefit to some degree. If you look at it from the viewpoint that just by having the outside guidance, many situations could have been avoided, such as retail chains going bankrupt due to throwing good money after bad, or people losing their houses because they did not have the long-term planning ability to consider maintenance, taxes, etc that add to the cost of ownership.
As far as cosmetic procedures being "essential" or not was pretty much determined by the medical and insurance industries. The fact that such procedures (unless necessary to correct a defect) are not even covered by medical insurance is a telling sign of the necessity of these procedures versus medically necessary procedures.
The fact of the matter is that certain items have to be taxed in order to support government operations and keep the country running. Without taxes, where would governments get the funding for school systems and public servants such as police, firefighters, and paramedics? The items that are deemed most essential are generally not taxed at all such as groceries (not prepackaged good but raw products that need to be prepared into a meal), and in many areas clothing items up to a certain price-point. Oh, and here's the kicker: people CHOOSE the government by voting on senators, governors, mayors, president so don't go blaming the government, blame the majority of voters who put this current regime in place.
Posted by: Eric J. Nisall | Wednesday, September 30, 2009 at 07:24 PM
"figuring that if people are willing and able to spend their money on such a non-essential thing..."
Who are you to say what is essential or non-essential? Is beer essential? Nope. Are movies essential? Nope. Are Carnivals or fairs essential? Nope. Is Coffee Essential? Nope (well maybe). Is soda essential? Nope. Are Business Consultants Necessary? That is what your main job seems to be. I would argue no, and the people hiring you probably have the money.
Just because YOU (or the current gov't) thinks something is non-essential doesn't mean you should tax the hell out of it.
Posted by: Evan | Wednesday, September 30, 2009 at 08:42 AM
I'm honestly surprised that elective "cosmetic" procedures haven't been taxed already, figuring that if people are willing and able to spend their money on such a non-essential thing, that maybe it can be taxed to help alleviate the tax burdens elsewhere (say, on lower-income individuals/families) or even as a buffer to offset some of the proposed budget cuts or just to supplement the current taxes collected by the government(s). Then again, I'm sure the reason it hasn't been passed is because all of the public officials use it themselves to look good for their constituents! I wonder how many people are already trying to use such a procedure as a deduction on their returns, not as a medical expense on schedule A, but on form 2106 or schedule C reasoning that it is "ordinary and necessary" for their line of work?
Posted by: Eric J. Nisall | Tuesday, September 29, 2009 at 05:39 PM