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
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
Tax Musings of a Burbank CPA: IRS taxpayer service goes from Bad to Terrible
This is something that every tax professional knew was going to happen after the IRS announced budget cuts. Where is the first problem going to be – a slow down in customer service. See this article in USAToday by Kevin McCoy that gives details on the total breakdown in IRS phone service for the last tax filing season: http://www.usatoday.com/story/money/2015/07/15/irs-taxpayer-service-2015/30181465/?utm_campaign=Daily+Clips&utm_source=hs_email&utm_medium=email&utm_content=20612080&_hsenc=p2ANqtz–wq-9K5PETkUeJhoTFg_z2CPz782Agh4yTB2kHC6C06DfWKNOhiV0PHxfQKG1bDp-nVg9SNDS_UarBjemlFIXEdoCVHQ&_hsmi=20612080 Since my feeling is that you should not depend on IRS telephone advice anyway (you can get 3 different answers to the same question with three different phone calls), it is better to talk to a tax professional for this type of information than a telephone person who is probably being paid close to minimum wage and now is not available most of the time. 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