Tax tip for those who take the standard deduction: in tax year 2026, your cash donations are deductible up to $1,000 ($2,000 for married filing jointly).
13.02.2026 04:02
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Tax tip for those who take the standard deduction: in tax year 2026, your cash donations are deductible up to $1,000 ($2,000 for married filing jointly).
Do not get you tax advice from Super Bowl commercials.
My first returning 2026 is complete.
Unfortunately, the forms are not.
Dayton picture of the beach. Sand in the bottom third of the photo; sea and surf in the middle third; clouds and sky at the top.
Earth, sea, sky.
"It is necessary at this season to establish firm emotional connections with a major league ball club, to share in the agonies of their defeats and the ecstasies of their triumphs. Without these simple marriages, none of us could survive." — EB White
Isn’t that just the production budget for AppleTV+ shows?
Can someone help me understand why Biden and Epstein are current news topics?
Actually, I probably don’t want to know.
It’s fascinating to me to read the reactions from Trump supporters to the tax bill. I’m not sure they’ve actually read the bill; it seems they are responding to the political rhetoric instead.
As an accountant named Steve, I agree.
Exceptions to the exceptions to the rules are what makes the tax code complex.
Happy Bobby Bonilla Day to all who celebrate.
The title of this book (which is magnificent) is one syllable short of a haiku.
This Is Real and You
Are Completely Unprepared
The Days of Awe
To me, there’s meaning to be uncovered there, as well.
I’m going to prepare some tax returns and put off, for as long as possible, reading the opinions issued by SCOTUS today.
I think it would be better framed as “not all the bill sections can be passed without needing cloture.”
They don’t have to be dropped.
What strikes me most about the tax bill pending in the Senate is the number of sections failing to avoid the sixty-vote threshold.
Will the GOP be able to cure the language and avoid the Byrd Rule? Who knows?
People can reasonably disagree about many aspects of tax policy; however, there has never been a tax cut which paid for itself, and this bill will increase the deficit.
40 minutes? That cook time just shows this is not the recipe to follow.
I’ll start paying more attention to budget bills once we’ve seen the Senate versions.
The House bills will increase the deficit, and they seem to play budget games (e.g., no tax on tips expires 2028), but there’s a lot of stuff in them that’ll have a very hard time in reconciliation.
I have always advised folks to avoid getting their tax advice from politicians.
It seems this may apply much more broadly: I should say avoid getting your news from politicians.
Spicy egg salad? Secret sauce? Yes, please.
If the Senate GOP were to go through with their current plan to ignore the costs in their bill, would they also ignore the requirements to avoid anything that isn’t fiscal/budget in a reconciliation?
Does that mean there’s no more filibuster?
“We are caught between a party that wants to make government fail and a party that doesn’t make government work.” — Ezra Klein to Jon Stewart
I’m expecting more like Severance: More Questions than Answers.
People are raising privacy concerns about DOGE’s access to IRS systems; however, I’ve seen no mention of the IRS confidential information that’s also exposed.
What’s that info? The weighting factors which are used to trigger audits, or how far could one go before an audit would be triggered.
I can see three, maybe four, sure SCOTUS votes for the (Project 2025) “let’s give the executive power of the purse” change to the constitution.
deficit increase of extending the TCJA provisions would fit under the budget resolution deficit restrictions. We will see if this prediction is remotely correct when we get the new tax law late in 2025.
14/14
If the ten-year deficit increase for extending all the provisions were $4T, and the ten-year deficit increase allowed by the budget resolution were $2T, then the five-year (or maybe six-year, depending on the CBO scoring)
13/x
This is just a creative way to get $4T in tax reduction and ignoring the deficit increase.
All of this leads me to my prediction: the new tax law will extend the TCJA provisions for five years.
12/x
and thus extending the provisions should not be considered an increase to the deficit for budget purposes, I think that argument is creative but unsound. If the prior bill required provision expiration to meet the prior deficit limits, why should that deficit impact be disregarded now?
11/x
Could there be some tax rate at which total tax revenue increases? Sure, it’s possible. However, the current rates in the United States don’t fall into that range.
As for the suggestion that current tax law (including TCJA expiring provisions) be considered the baseline,
10/x
If raising rates would decrease revenue, lowering rates would increase revenue. As a hypothesis, this deserves testing. Over the past fifty years, this and the follow-on idea of “trickle-down” economics have been tested and have not been found.
9/x