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Memorial Day 2018: Remembering & making new memories

May 28, 2018

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"On this day, take time to remember those who have fallen.
But on every day after, do more;
put the freedoms they died for to greater and nobler uses." 
— Richelle E. Goodrich, author

During holidays, we're generally encouraged to remember the reason behind the special day. The two instances where this is most prevalent is Christmas and Memorial Day.

Memorial Day's purpose often gets lost in the revelry of summer's arrival … except when your awash in a tropical storm's rain bands.

But today is supposed to be more than time with family and friends at picnics, trips to the lake and day baseball games.

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It's the day dedicated to honoring those killed in battle.

Many Memorial Day messages: This holiday, however, has been a problematic from the outset, with its origins as a tribute to those lost in the country's deadliest, and still divisive, military encounter, the Civil War.

As Washington Post columnist E.J. Dionne notes, Memorial Day has been mired in political controversy almost from the beginning. That's only intensified as it seems to many that we're again fighting a philosophical civil war.

But perhaps, if only for a bit on this May 28th, take a moment to acknowledge and show respect for the military men and women who have died while serving our country.

James Fallows in a piece in The Atlantic suggests four accounts of American warriors that eloquently and personally display why the real reason for Memorial Day should never be forgotten.

Memorial Day taxes: Not to add to the mixed messages, but this is a tax blog.

And on that front, Ryan Prete of Bloomberg Tax breaks down the taxes on items and events traditionally connected to Memorial Day celebrations. This includes levies on food, beer and holiday travel.

In addition to those taxes affecting all of us, an earlier post here on the ol' blog offers thanks for those who made the ultimate sacrifice and takes a look at federal tax breaks for U.S. military service personnel still serving.

Many states also provide special tax considerations for servicemen and women.

Respectful celebration: Regardless of how you celebrate Memorial Day, here's hoping it's a safe and enjoyable one.

May it be a day of many new and wonderful new memories.

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And may it also include at least a moment to remember those whose dedication, love of our country and sacrifice is, as the saying goes, the reason for the day.

"Patriotism is supporting your country all the time
and your government when it deserves it."
— Mark Twain, author and humorist

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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