Being able to deduct moving expenses can ease some of the burden of the cost associated with the move. The rules are very specific and somewhat mechanical. Review these rules with your tax person before make the move. Also check with your employer to see if they offer some direct payment for some moving expenses. Some direct payments could be excluded from your income.
Being self employed has many advantages. Freedom, income potential, controlling one's destiny are a few. Remember that while some of those advantages also come with additional responsibility.
Just because you own a vacation home does not mean you automatically get to write off everything related to the ownership of the vacation home. Here are a few tips.
Moving can be very stressful as well as an expensive process. The current tax law provides for a deduction for some but not all moving related expenses. A little planning can take some of the sting out of a move. Unfortunately, there is no help for the stress.
Managing your miscellaneous deductions is very important and could be worth money to you. As your income increases, so does the two percent floor that you must over come in order to start deducting miscellaneous deductions. Here are a few tips to watch for in your tax planning.