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These tax tips can make filing (1040) EZ: Sponsored content from JPMorgan Chase & Co. Kelly Perez

With Tax Day approaching, there’s no time like the present to get started on your 2022 returns and submit them well before the April 18 deadline. This year, you have a few extra days to complete your taxes. With the typical deadline of April 15 falling on a weekend, followed by Emancipation Day on Monday, this year’s filing date is on Tuesday, April 18.

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“Though there are a few extra days to file, make sure to still give yourself ample time to gather and organize your tax information to take advantage of any and all tax deductions, or other tax breaks that may apply to you and your family,” says Kelly Perez, Wealth Advisor for J.P. Morgan Private Bank.
“Though there are a few extra days to file, make sure to still give yourself ample time to gather and organize your tax information to take advantage of any and all tax deductions, or other tax breaks that may apply to you and your family,” says Kelly Perez, Wealth Advisor for J.P. Morgan Private Bank.

With Tax Day approaching, there’s no time like the present to get started on your 2022 returns and submit them well before the April 18 deadline.

This year, you have a few extra days to complete your taxes. With the typical deadline of April 15 falling on a weekend, followed by Emancipation Day on Monday, this year’s filing date is on Tuesday, April 18.

“Though there are a few extra days to file, make sure to still give yourself ample time to gather and organize your tax information to take advantage of any and all tax deductions, or other tax breaks that may apply to you and your family,” says Kelly Perez, Wealth Advisor for J.P. Morgan Private Bank. “Many key deductions that may reduce your tax bill or provide a refund are often left on the table due to lack of preparation. Whether you file on your own or work with a paid tax professional, the initial groundwork is the key to maximizing your benefits.”

Ready to submit or get started? Here are some tips to help simplify the process, maximize your potential refund or minimize your tax burden before you finalize your return.

  • Get organized. Make sure you have important documents like last year’s return, current W-2s, 1099s and mortgage interest statements on hand. You’ll also want to gather receipts for tax-deductible purchases, travel, charitable contributions and other potential write-offs. You can look online to find checklists of documents you might need to help you file.
  • Be aware of tax law changes. While taxes are inevitable, what you may owe or get refunded might not be. As you finalize or start your 2022 tax return, be aware of changes to federal, state and local tax laws that could affect your refund or how much you owe. For example, if you benefited from the child tax credit, earned income tax credit or child and dependent care credit on your 2021 return, don’t be surprised if you get a smaller refund this year. Credits expanded as part of federal Covid relief packages have now returned to pre-pandemic levels.
  • Are you working from home permanently? If you have a home-based business, you might qualify for a home office tax deduction. You can potentially write off expenses for a part of your home you only use for business purposes.
  • To itemize or not to itemize. Determine whether you’ll itemize your expenses or take the standard deduction. If you think your qualified expenses will be more than the 2022 standard deduction ($12,950 for most singles and $25,900 for most married couples filing jointly), it might be worth it to itemize. Taking the standard deduction can make the filing process easier, but it could mean you pay more in taxes or receive a smaller refund.
  • Contribute to retirement accounts. You can fund a traditional or Roth IRA through the April 18, 2023, tax filing deadline and have it count for 2022. Traditional IRA contributions lower your tax bill right now, while your Roth IRA withdrawals are tax-free in retirement. You can contribute up to $6,000 to an IRA each year, or — if you were 50 years or older in 2022 — up to $7,000 of your earned income.
  • Seek help when you need it. If you have a more comprehensive tax return, it can be a good idea to work with a certified public accountant (CPA). If you need assistance in general, check if you qualify for free in-person or remote programs offered by the IRS or local organizations depending on your income, age and disability status.
  • Go faster by going digital. Filing electronically will get your return to you more quickly than filing by mail. Selecting direct deposit to a bank account or prepaid card will make the process even faster.
  • Need more time? If you can’t file by April 18, you can fill out a Form 4868 that will extend your filing deadline to Oct. An extension to file isn’t an extension to pay, so if you think you’ll owe, plan to submit an estimated payment amount when you file your extension.

The bottom line – Filing your taxes doesn’t have to be difficult. Getting organized now will help make tax season easier this year and put you in better shape for years to come. For more tips to help you make the most of you and your family’s finances, visit J.P. Morgan’s U.S. Tax Center at privatebank.jpmorgan.com/gl/en/insights/planning/us-tax-center.

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Business

Newsom Signs Addictive Social Media Law to Protect Kids

Newsom said California’s approach focuses on the features that can encourage excessive social media use rather than taking the broader step of banning teenagers from the platforms altogether. He contrasted the measure with restrictions adopted in Australia and Malaysia that prevent teenagers from accessing social media or creating accounts.

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Gov. Gavin Newsom has signed a new California law targeting addictive social media features that can keep children scrolling, giving the state new authority to restrict how platforms engage young users.

AB 1709, authored by Assemblymember Josh Lowenthal (D-Long Beach) prohibits social media companies from giving children under 16 access to personalized feeds, including “For You” pages, as well as other features designed to maximize screen time, such as infinite scrolling and video autoplay.

The law does not prevent children under 16 from using social media. Instead, platforms must deactivate the covered features for those users.

“This is about actually addressing the problem, the scrolling, the algorithms,” Newsom said Sept. 10 during a bill-signing event in the San Francisco Bay Area.

Newsom said California’s approach focuses on the features that can encourage excessive social media use rather than taking the broader step of banning teenagers from the platforms altogether. He contrasted the measure with restrictions adopted in Australia and Malaysia that prevent teenagers from accessing social media or creating accounts. 

The law comes amid growing concerns about the impact of social media on children’s mental health and well-being. California lawmakers have increasingly focused on the design and business practices of technology platforms as part of efforts to protect young users.

AB 1709 is one of 13 youth online safety and privacy laws Newsom signed Sept.10. The package also includes measures regulating AI chatbots, increasing potential penalties for technology companies and establishing additional protections for children using digital services.

Lowenthal said the new rules represent a shift toward greater accountability for technology companies.

“We want oversight. We want accountability. We’re done asking nicely, and we’re demanding that there is a duty of care across these platforms — a duty that puts the wellness of our children ahead of profits,” Lowenthal said.

The law builds on California’s broader effort to regulate children’s online experiences. A separate law, AB 1043, will require users to provide their birth dates when setting up new phones or laptops beginning in January, with device manufacturers required to share users’ ages with apps.

Some youth online safety advocates have supported AB 1709 as a more targeted alternative to outright social media bans. Others have warned that the restrictions could make it harder for some LGBTQ+ young people to find support online and questioned how effectively age requirements can be enforced.

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Black History

Passing for White, Fighting for Black America: The Courage of Walter White

White personally investigated 41 lynchings and eight race riots. On several occasions, his identity was discovered, forcing him to flee for his life. The evidence he collected helped the NAACP expose the brutality of lynching to Americans and strengthen its campaign for federal anti-lynching legislation. His experiences also influenced his 1929 book, “Rope and Faggot: A Biography of Judge Lynch.”

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Walter White. Public domain image.

Walter Francis White was one of the most important civil rights leaders of the first half of the 20th century. For more than three decades, he helped transform the National Association for the Advancement of Colored People (NAACP) into one of the nation’s most powerful organizations fighting racial discrimination, segregation, and violence against African Americans.

Walter White was born in Atlanta, Georgia, in 1893 and grew up in a middle-class African American family. His parents, George and Madeline White, had been born into slavery. Although Walter had blond hair, blue eyes, very light skin and could easily have passed as white, he firmly identified as Black. As a teenager, he witnessed the Atlanta Race Massacre of 1906, when white mobs attacked African Americans throughout the city. The experience strengthened his determination to fight racial hatred and injustice.

After graduating from Atlanta University in 1916, White worked in insurance and became active in the Atlanta branch of the NAACP. His abilities caught the attention of NAACP leader James Weldon Johnson, who recruited him to the organization’s national staff in 1918.

He soon became known for his extraordinarily dangerous investigations of lynchings. Because many white Southerners assumed he was white, he was able to enter communities where Black investigators would have faced immediate danger. He spoke with witnesses, law enforcement officials, and even members of lynch mobs, often pretending to share their racial attitudes so they would reveal information.

White personally investigated 41 lynchings and eight race riots. On several occasions, his identity was discovered, forcing him to flee for his life. The evidence he collected helped the NAACP expose the brutality of lynching to Americans and strengthen its campaign for federal anti-lynching legislation. His experiences also influenced his 1929 book, “Rope and Faggot: A Biography of Judge Lynch.”

By the early 1930s, Walter had risen to the NAACP’s top administrative position. As executive secretary, he helped build the organization into a major national political and legal force. Under his leadership, the NAACP challenged discrimination in voting, employment, education, transportation, the military, and other areas of American life.

White also recruited attorney Charles Hamilton Houston to lead the NAACP’s legal strategy. Houston and his protégé, Thurgood Marshall, developed the courtroom campaign that eventually helped produce the Supreme Court’s historic 1954 decision in Brown v. Board of Education, declaring racial segregation in public schools unconstitutional.

White used his relationships with national political leaders as another weapon against discrimination. He worked with First Lady Eleanor Roosevelt, President Franklin D. Roosevelt, and President Harry S. Truman. He supported efforts to end employment discrimination and encouraged Truman to establish the President’s Committee on Civil Rights.

Walter White remained an NAACP leader until his death in 1955. His courage, political skill, investigative work, and relentless commitment to equality helped establish the foundation upon which the modern Civil Rights Movement would build.

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Art

Event Preview: ‘Fashion v. Fascism’ – A Runway Revolution Is Coming to the Bay Area

“Every piece on this runway translates what is happening under fascism into a feeling,” explains Erica Furlong, the FVF creative director. “One designer’s trench coat is covered in pockets stamped ‘TRUTH,’ ‘MEMORY,’ ‘HOPE,’ ‘VOTE,’ ‘FUTURE,’ because that’s literally what gets seized first, pocket by pocket, under fascist decline. Fashion can hold grief and hope in the same silhouette, and that tension is exactly what this moment needs.”

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Designer Rickie Lee. Courtesy image.

“Fashion vs. Fascism” (FVF) is a visually immersive evening of fashion, music and political theater exposing the rise of fascism in the U.S. and the need to resist. Democracy is under siege, and culture is one of our most potent defenses, organizers say.

Called a live “runway revolution,” FvF premieres Oct. 3 at The Rotunda, 300 Frank Ogawa Plaza in downtown Oakland.

A play that is part fashion show, part protest, part performance art, FvF stages five runway collections spotlighting the pillars of contemporary fascist politics and the urgent need to resist: the myth of a “glorious past,” the manufactured emergencies used to justify surveillance and crackdowns, and the oligarchs and grifters profiting from it all. Runway fashion shares the stage with political theater and live music, with a closing call to action.

“We need lawsuits, ballots and mass protests, but none of it lands if we’re not also fighting for people’s imagination,” says Linda Burnham, co-producer of the show. “People are exhausted and scared. FvF will expose the absurdities of fascist mythology and ideology in ways a news headline cannot and spark new ideas about how to resist.”

“Fascism doesn’t win by policy alone. It wins by telling a story. A myth about a ‘Golden Age.’ A permanent emergency that makes cruelty seem necessary. That’s not an accident, it’s a strategy, and it works on the same terrain as culture: image, spectacle, emotion,” says Aya De León, the show’s playwright.

“Every piece on this runway translates what is happening under fascism into a feeling,” explains Erica Furlong, the FVF creative director. “One designer’s trench coat is covered in pockets stamped ‘TRUTH,’ ‘MEMORY,’ ‘HOPE,’ ‘VOTE,’ ‘FUTURE,’ because that’s literally what gets seized first, pocket by pocket, under fascist decline. Fashion can hold grief and hope in the same silhouette, and that tension is exactly what this moment needs.”

At its best, fashion is about creativity, diversity, innovation, experimentation and the free exchange of ideas. Fascism, by contrast, demands conformity and control, while suppressing dissent.

FVF was created, organizers say, because democracy should always be in style.

Featured designers include Erica Varize, Rickie Lee, Tianna Charity, Julie Wong, and Maria Flores. The evening features a script by lead playwright Aya De León, musical performances by Mindeullae Project and DJ Emancipation, and other special guests.

FvF is designed to travel. Following the Oakland premiere, FvF will extend its reach through a documentary short, a curriculum on contemporary fascism in the U.S., and a full replication playbook — design templates, script, and curriculum — so organizers in other cities can stage their own version of the show.

Get more details at www.fashionvfascism.org.

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