Tax Musings of a Burbank CPA: Moving Expense Deductions

Planning a move to take a new job?  If you move far enough away you could be able to deduct your moving expenses. See this IRS tip regarding deductible moving expenses and how to qualify to take them: http://content.govdelivery.com/accounts/USIRS/bulletins/11485c3#.VdSPniid9GY.twitter … As the tip says, the move must coinside with the start of a new job, the new job location must be at least 50 miles farther from your old residence than your old job location, and you have to work at the new job for a certain period of time.  If you qualify, you an deduct you actual costs plus some travel expenses related to the move.  That should reduce what you had to pay to move in the first place.   For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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Tax Musings of a Burbank CPA: Return due dates changed in highway funding bill

So changes to the filing due dates of various business returns have been changed.  While S Corporations stay the same, Partnerships will be due 2 1/2 months after their year end and C Corporations will be due 3 1/2 months after their year end (unless you have a June 30 fiscal year, then nothing changes until 2026 – ????).  See the details in this post from Michael Cohn in Accounting Today : www.accountingtoday.com/news/tax-practice/highway-bill-changes-business-tax-filing-due-dates-75379-1.htm More fun with extensions.  Partnerships get a 6 month extension, C Corporations get a five month extension (Unless you have that June 30 year end, then you get a seven month extension until 2026 – again, ?????).  Also form 114 (FBAR) will be due April 15, but you will get a 6 month extension to file.  Check the article for more little items that will change – the President signed this into law of July 31 and it will start for all above entities with years beginning after December 31, 2015.  Something to look forward to.   For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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Musings of a Burbank CPA: Working from home – how to stay productive.

As someone who flirted with using a home office when I started my CPA firm almost five years ago, I can appreciate ways to be productive in that situation.  See this post in The Christian Science Monitor by Dan Rafter for a list of five things to help with home office productivity: http://www.csmonitor.com/Business/Saving-Money/2015/0720/Working-from-home-How-to-stay-productive?utm_campaign=Daily+Clips&utm_source=hs_email&utm_medium=email&utm_content=20702528&_hsenc=p2ANqtz-_pUVKUwG9KbyeYXKcUI-Sg3o-Br0QnvegdKnVz2lG_eJFKVo-ycQj8dAUVh03Dt-LUv6mBrp3Hm2HVNxYdYsAnUSxvFQ&_hsmi=20702528 The biggest problem with my home office was two-fold.  First it was impossible to sit down with clients at home, so I needed at least a conference room or small office to meet with people. Second and most important, the area used as an office was an extension of our den, where the big TV was.  It made working at home just about impossible, so I finally rented an office in an executive suite that I still have.  Working at home is great for many, just not for me.    For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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