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Deducting moving expenses, part 1 – do I qualify?
Moving expenses are a commonly overlooked deduction, both at the Federal and state level. You can deduct your moving expenses on your Form 1040 if you meet all of the following tests. Your move must be...
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Deducting moving expenses, part 2: what can I deduct?
Now that you know whether you qualify to deduct moving expenses, you need to know what you can deduct. You can deduct (a) reasonable costs of moving your household goods and personal effects and (b)...
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Deducting moving expenses, part 3: handling employer reimbursement
In the prior entries, I told you how to determine if you qualify to deduct moving expenses, and what you can and cannot deduct. It’s far less frequent now, but in the past employers would often offer...
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Deducting moving expenses, part 4 – how to report them (federal and state)
Part 1 – can expenses be deducted Part 2 – what expenses can be deducted Part 3 – handling employer reimbursement Now we come to the last step – how do you report moving expenses on your return? For...
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Energy-efficient, tax-inefficient
Scott Hodge of the Tax Foundation Tax Policy Blog (italics mine): Bloomberg recently reported that: “Whirlpool Corp. will claim $300 million this year in U.S. tax credits for making energy- efficient...
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Helping the tsunami victims
Remember that for your contribution to be tax-deductible it must be directed to a US-based charity. Check out this link at About.com for more information. UPDATE: Stacie Clifford Kitts has some more...
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“Can I deduct…?” part 1
At this time of year, we start getting a steady stream of clients who are worried about owing come April 18. The most common question we get starts out with three little words: “Can I deduct…??” There...
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“Can I deduct…?” part 2
In Part 1, I talked about “above the line” deductions – deductions available directly on form 1040 for any taxpayer who qualifies. There are other deductions that are available to taxpayers who itemize...
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Selling your home – ask a tax pro BEFORE you sign
It’s been a busy year, and kind of an unusual one. The regular job (AKA “the one that pays the bills”) has been eating into my writing time, and what time I’ve been able to spend on tax matters has...
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