November 21, 2016
Are you moving due to a change in your job or business location? If so, you may be able to deduct your moving expenses (excluding meal costs). Here’s how:
To deduct moving expenses, there are three requirements your expenses must meet:
If you meet the three requirements above, consider these “Do’s” and “Don’ts” when you claim moving expense deductions:
In addition, if your employer pays you for the cost of a move that you have deducted on your tax return, you may need to include the payment as income by reporting it on your tax return in the year you get the payment.
If you have questions about how a job or business relocation will impact your tax situation, please contact our firm.
Our most precious commodity is time—and our attention is a close second. That’s why everyone can use some help on how to tune out daily distractions. We compiled the following helpful tips from copyblogger.com to get you started on dialing down distractions:
The April 15 filing deadline is rapidly approaching, so we encourage you to send us your tax documentation as soon as possible to expedite the filing process. Here are four important reasons why you should file your return sooner rather than later:
This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community: