Manage My Budget

There are two sides of the moving-to-a-new-house process. The first one is, of course, the most important – the excitement of moving somewhere new; the second phase of the moving process can become something quite exhausting and stressful.

There are ways to make the packing process less stressful and more enjoyable. Consider these tips to help you stay organized through the moving and packing process.

Obviously, moving requires moving supplies. This means boxes, bags, packing tape, bubble wrap, dish and glass separators for your dish and glassware. Most people underestimate how many containers they will need to pack all of their possessions safely, so begin purchasing packing supplies as soon as you know you will be moving.

Packing your breakables can be a challenge. There are special boxes available for packing dishes and other breakables. You can also use your towels and even clothes to act as cushions around your fragile items.

As you begin packing, start with the small items and work your way to the larger ones. Pack room by room and keep items together in boxes marked with the room’s name. An inventory list can be helpful as well. This will provide you with a list of what is packed in each box.

It is useful to go place all your small and light belongings in big boxes and all your heavy items in smaller boxes. This way, it will be much easier to unpack once you move to your new place.

Make sure you keep your boxes to less than 50 pounds, to avoid any unnecessary back pains. Make full use of your bubble wrap and your old newspapers: wrap everything that needs to be wrapped and place all your glasses and other breakables in storage bins made of plastic, surrounded by bubble wrap.

The only items you should not pack in with everything else are those things you will need for the first day or so, such as one day’s clothes and basic toiletries. Pack those items in a suitcase, much as if you are going on vacation. While moving can be a stressful event, with proper planning and patience you can be certain to have a smooth, worry-free move.

This writer has been blogging with respect to moving for the last three years. Additionally, the author takes pleasure in contributing information with respect to New York real estate subjects, such as Central Park real estate and Union Square apartments.

During the last 20 years as a tax accountant I have been asked many questions but the most common is what can I deduct on my taxes? The answer I give to this question greatly depends on what I know about the particular needs of my client. Are they self employed? Are they asking on behalf of their corporation? Contained in this article are several tax deductions that I feel best answers this question for the broadest audience.

Moving expenses can be deducted if you had to change your residence during the current tax year because of a change in employment. There are tests to meet but you are entitled to deduct transportation, storage of household goods, lodging, and expenses incurred while house hunting.

Are you self employed? If you have a full time job but are doing a business on the side then you are entitled to a whole host of deductions. Cell phone, computers and equipment, internet, licensing, wages, home office are just a few of items that are deductible. Expenses in this area should be reviewed with your tax adviser but start keeping track of them now.

Loans made to friends and family that will not be repaid can be deducted as a worthless debt. You need to take this deduction in a timely manner to ensure the deduction. My rule of thumb is if the borrower has failed to repay by the agreed upon day then take the deduction during the current tax year. If they repay you later then you will need to report it in the year you are repaid but if you wait too long the IRS will determine it was actually worthless in the year before you actually took the deduction and will disallow it. I know this sounds confusing so consult with your tax adviser and you may even need to educate them a little.

Did you know the miles driven for medical and charity are deductible? With the rising costs of gasoline you have to try to get relief from somewhere and Uncle Sam is as good a place as any. The amount you can deduct changes each year so consult your tax adviser but more importantly start keeping track now so you will be prepared at year end.

If a school teacher ever asks me what can I deduct on my taxes one of the first things I think of is the educator expenses on line 23 of the 1040(2009). This deduction is often missed so if you or someone you know is a school teacher this is a worthwhile item.

Deducting your dependent children is done by everyone but are you aware of the different credits available for these children. I know of the child credit you say but are you also aware of the additional child credit. If you have been preparing your own tax return it is possible you have been missing this one.

When clients give me their K-1s from an S-Corporation or Partnership I ask them what expenses they have. Most people do not consider themselves self employed in this situation but if they are actively participating then they are entitled to the same deductions as other self employed individuals. Be sure to make your tax preparer aware of this so they are able to maximize your benefit.

When you work for someone else you may be incurring expenses that are deductible if your employer is not reimbursing you. Unreimbursed employee expenses is the category these fall under. Consult your tax advisor to make sure you are taking full advantage of these deductions.

What can I deduct on my taxes has been asked by every taxpayer since 1913. If you have found the answer to this question in the foregoing paragraphs then I am glad. However, if not or you have other tax related questions please feel free to contact me. If you follow the links at the bottom of this page to my web site you will find my email address as well as a lot of other information. Feel free to email me and either I or a member of my staff will respond to your question.

Zach Allred is a tax preparer with 20 years experience. Visit Small Business Taxes to sign up for his Free Newsletter. Also visit Federal Tax Deductions to read other free articles.