Can I Deduct My Moving Expenses This Year?

Moving is really hard work, it costs you money and causes disruptions to your life. It sure would be nice if you could get reimbursed for your moving expenses through a bigger tax deduction this year, wouldn’t it? But, surely that’s too good to be true. Or is it?

moving expense deductions

Any way you can get the “tax monkey” a little more off your back, the better. Yes, it is possible that your move this tax year will qualify you for a hefty deduction. But there are rules you need to know first.

How Do I Qualify for a “Moving Deduction?”

The basic rule is that you can only deduct your moving expenses if your recent move was “work-related.” That means you moved in order to live near your new employer or you were transferred by your old employer to a new location. But your new workplace must be 50 or more miles more distant from your old home than your old workplace was from your old home. That may sound a bit confusing, so here’s a couple examples:

  • Your old home is 100 miles from your new workplace. Your old home is also 15 miles from your old place of employ. 100 minus 15 is 85 miles more distant, so you get the deduction.
  • Your old home is 50 miles from your new home, but only 45 miles from your new workplace. Plus, you were already commuting 10 miles from your old home to your old job. 45 minus 10 equals only 35 miles, so you don’t get the deduction.

calculate distances for moving deductions

Note you have to calculate distances using the shortest possible commute route, even if that’s not the way you actually travel.

Second, you must work full time for 39 weeks out of the first year at your new job, the 12-month period commencing from moving day. Each industry will have different standards on what counts as “full time.”

You can claim the deduction the year of your move, even though the 12 months won’t end until the next year (unless you moved January 1st!). However, if it turns out you didn’t work full time to ultimately qualify for the deduction, you have to refund it on your next tax return.

Incidentally, the relevant tax form is IRS Form 3903.

What Can I Deduct Specifically?

Any “reasonable expenses” incurred in the move can be deducted, if you have the receipts. That includes moving trucks, gas and tolls getting there, a storage unit if you couldn’t move in immediately and needed one, or plane/train tickets.

It also includes vehicle shipping expenses, if you used a car shipping company rather than drove your vehicle the distance. Check out https://executiveautoshippers.com/how-your-auto-transport-could-increase-your-tax-refund/ to learn more.

You can also take the “standard moving mileage deduction” instead of the gas deduction (if you drove). Just estimate which one will save you more.

In essence, you are deducting any expense that was necessary and directly related to your relocation. You may need to ask a tax expert about some of the details, but definitely save all receipts of anything that could possibly qualify.

5 Ways to Get the Cheapest Price on a Term Life Insurance Policy

Buying life insurance is a big step in life, one which acknowledges the importance of the people you love and of your own mortality. Heavy thoughts aside, term life insurance is a very affordable way to prepare for the future, with exactly the terms you need for your specific situation. Term life is much cheaper than whole life insurance, and can be renewed and adjusted as needed. For peace of mind and future security, there’s not a better product you could buy. Here are some of the ways you can make sure you get a great price on term life insurance.

  • Shop around online for life insurance quotes. Sites like True Blue Life Insurance make it easy to explore all of your possibilities. Some life insurance companies make it seem like every policy you could be offered is basically the same. The reality couldn’t be further from the truth. Term life insurance is about your unique needs and your personal budget. Keep looking until you find terms that work for you.
  • Choose an independent broker. You’ll be able to find institutional insurance companies which cast a wide net but don’t offer personalized service or value. You’ll also find fly-by-night organizations that will gladly take your money but might not offer the right kind of service when it’s most needed. A solid independent broker will be competitive and responsive to your needs, because their business depends on it.
  • Look at agent and agency reviews. Want to know what it’s like working with a company before you sign on the dotted line? Look at some online reviews. You should be able to find ample reviews for any insurance option worthy of your business. Be careful to avoid reviews that seem phony – overly enthusiastic or structured in a way that a real person would not write. When you find the real thing and the reviews are good, you know you’ve discovered a quality agent or agency.
  • Don’t buy directly from an insurance company. Agents from these large companies are not knowledgeable about the wider insurance landscape and are really just in place to make sure their company gets your business. An independent agent will understand the larger industry and will be able to direct you to products that best serve your needs.
  • Choose an A rated company from AM Best. This is a third party that evaluates different insurance companies’ financial strength. Accredited third party reviews like these help structure the entire insurance market, because consumers alone are often not sophisticated enough about the life insurance market to make these evaluations. Their criteria will offer you facts you won’t find in life insurance marketing media – a valuable provision in the complex world of insurance.

Term life insurance is usually very affordably, but this doesn’t mean that you shouldn’t still look for the best price. With many options available on the market, it’ll take a little research, but you’ll save for months and years to come, so the extra effort it worth it. Good luck in the hunt!

5 Innovative Ways to Keep Your Business Productive

5 innovative ways to keep your business productive

Time is the most valuable resource, but it’s one of the few things that no one can actually control. However, business owners can get organized and adapt better ways to control how productively they use their time.

Not all ways to improve productivity are straightforward. Sometimes, it can be difficult to find the necessary ways to do so. Here are five innovative things they can do to keep their businesses productive around the clock.

Streamline Workflows

In the current digital world, businesses have moved towards a paperless office. There is hardly any document that they store in hard-copy format. One of the best ways to be productive in these circumstances is to use mobile devices to print business documents.

Using mobile devices provides employee mobility. It also reduces the demand for significantly large networks desktop computers. Furthermore, it reduces paper waste and increases security.

Try Polyphasic Sleep

A recent research has indicated that sleep deprivation cost many businesses in the United States over $411 billion collectively. Taking this into account, polyphasic sleep can be an alternative to traditional sleep patterns. It is a type of sleep hack that disrupts the normal monophasic sleep and be able to sleep 30 minutes every six hours.

This approach can help a business owner to get the rewards of a normal seven-hour sleep and also makes them more productive.

Enhance Employee Safety

Businesses should do several things to protect their employees against injury. Everyone in a business that is informed of the rules on their safety and the reasons they are in place can be more productive.

Businesses should also make sure all the employees have clear responsibility for workplace health and safety for better results. But do not forget to have a marijuana blood test. It is the best way to get to know the exact amount of cannabis that is in the employee’s system.

Eat Well

Many employees in the current fast-paced world feel so pressed for time that they don’t take meal breaks. This has an adverse impact on their efficiency and concentration. Take enough time to eat lunch or grab a few snacks to help you remain fully charged for the rest of your day.

Turn Off Email Alerts

Too many email alerts are the number one distraction in the day of an employee. It is a notorious productivity and time killer. When emails come in, alerts ring. This drags the individual away from the tasks they were working on. There is no way a business person can ignore an email alert. It is human nature to want to respond to such alerts. Business productivity can increase significantly when one turns away the alerts

If a business owner wants more work done within less time, they need to get organized. This can enable them to stay focus, but that’s not all that one needs. Forwarding-thinking individuals follow the above innovative strategies as well.

No money? No resources? No reason not to start a business!

start a business

Starting your own business can really change your life and has the possibility of turning into something really amazing.

However, quitting your day job, leaving everything behind and putting everything you’ve got into a pretty uncertain future isn’t always the best idea. It’s also not something a lot of people can afford or manage.

But, what if you’ve still got that entrepreneurial fire burning inside of you and have that one business idea you just can’t get out of your mind? Should you just forget about it because you don’t have the financial stability and manpower to bring it to life?

Definitely not!

Sure, it will be hard and it will take a lot of effort and dedication to see it through, but it doesn’t mean that it’s not possible. Some of the largest and most influential companies today were started out of garages and dorm rooms with nothing more than a desire to make a difference.

So, how do you tackle the problem of not having the money or the resources to start your own business the traditional way? We’ve come up with a few ideas that will help you realize that the only thing you need to start a business is a bit of free time and a passion for what you do.

wrike work management

1.Use an online planning tool

Mapping out your business strategy and your business plan is much easier if you use an online project management tool. Tools like Trello, Wrike or Evernote will make segmenting tasks much easier and allow you track your progress in great detail. They’re all free and will help you stay organized.

create a free website

2.Create a free website

SITE123 is an incredible free website building platform that will transform the way people create websites. Its easy to use interface and incredibly intuitive features, as well as dozens of pre made layouts have already made it a favorite among small business owners.

It comes with layouts designed for different industries such as restaurants, stores, and hotels.

create an online store

3.Add an online store

If you’ve got something to sell, having an online store is a must. SITE123 offers a range of third party e-commerce apps you can add to your website and have a full-blown, working online store in seconds.

Apps such as Ecwid and Selz make it easy to keep track of orders and calculate shipping rates, and make it easy for your customers to shop. Apart from a quick run to the post office, it won’t cost you a dime.

give your customers to option to fund you

4.Give your customers the option to fund you

It’s the year of the entrepreneur and funding a project has never been easier. Crowdfunding websites such as Kickstarter and GoFundMe changed the way people finance their startups. You can opt for one of these platforms, or you can add a Donately widget straight to your website.This donation app will allow your customers to skip the middleman and give money directly to you.

Wrap up

If you’ve got a great idea and a solid business plan, the only other thing you need to start a business is passion and your laptop. We’ve listed just a few essential tools you should have, but there are many more that you can use to successfully run a business on your own.

All of these tools are free and take seconds to set up, leaving you enough free time to focus on doing what you love.

Ready to start a business? Create a free website and watch it take on from there!

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Can I Deduct My Moving Expenses This Year?

Moving is really hard work, it costs you money and causes disruptions to your life. It sure would be nice if you could get reimbursed for your moving expenses through a bigger tax deduction this year, wouldn’t it? But, surely that’s too good to be true. Or is it?

moving expense deductions

Any way you can get the “tax monkey” a little more off your back, the better. Yes, it is possible that your move this tax year will qualify you for a hefty deduction. But there are rules you need to know first.

How Do I Qualify for a “Moving Deduction?”

The basic rule is that you can only deduct your moving expenses if your recent move was “work-related.” That means you moved in order to live near your new employer or you were transferred by your old employer to a new location. But your new workplace must be 50 or more miles more distant from your old home than your old workplace was from your old home. That may sound a bit confusing, so here’s a couple examples:

  • Your old home is 100 miles from your new workplace. Your old home is also 15 miles from your old place of employ. 100 minus 15 is 85 miles more distant, so you get the deduction.
  • Your old home is 50 miles from your new home, but only 45 miles from your new workplace. Plus, you were already commuting 10 miles from your old home to your old job. 45 minus 10 equals only 35 miles, so you don’t get the deduction.

calculate distances for moving deductions

Note you have to calculate distances using the shortest possible commute route, even if that’s not the way you actually travel.

Second, you must work full time for 39 weeks out of the first year at your new job, the 12-month period commencing from moving day. Each industry will have different standards on what counts as “full time.”

You can claim the deduction the year of your move, even though the 12 months won’t end until the next year (unless you moved January 1st!). However, if it turns out you didn’t work full time to ultimately qualify for the deduction, you have to refund it on your next tax return.

Incidentally, the relevant tax form is IRS Form 3903.

What Can I Deduct Specifically?

Any “reasonable expenses” incurred in the move can be deducted, if you have the receipts. That includes moving trucks, gas and tolls getting there, a storage unit if you couldn’t move in immediately and needed one, or plane/train tickets.

It also includes vehicle shipping expenses, if you used a car shipping company rather than drove your vehicle the distance. Check out https://executiveautoshippers.com/how-your-auto-transport-could-increase-your-tax-refund/ to learn more.

You can also take the “standard moving mileage deduction” instead of the gas deduction (if you drove). Just estimate which one will save you more.

In essence, you are deducting any expense that was necessary and directly related to your relocation. You may need to ask a tax expert about some of the details, but definitely save all receipts of anything that could possibly qualify.

5 Ways to Get the Cheapest Price on a Term Life Insurance Policy

Buying life insurance is a big step in life, one which acknowledges the importance of the people you love and of your own mortality. Heavy thoughts aside, term life insurance is a very affordable way to prepare for the future, with exactly the terms you need for your specific situation. Term life is much cheaper than whole life insurance, and can be renewed and adjusted as needed. For peace of mind and future security, there’s not a better product you could buy. Here are some of the ways you can make sure you get a great price on term life insurance.

  • Shop around online for life insurance quotes. Sites like True Blue Life Insurance make it easy to explore all of your possibilities. Some life insurance companies make it seem like every policy you could be offered is basically the same. The reality couldn’t be further from the truth. Term life insurance is about your unique needs and your personal budget. Keep looking until you find terms that work for you.
  • Choose an independent broker. You’ll be able to find institutional insurance companies which cast a wide net but don’t offer personalized service or value. You’ll also find fly-by-night organizations that will gladly take your money but might not offer the right kind of service when it’s most needed. A solid independent broker will be competitive and responsive to your needs, because their business depends on it.
  • Look at agent and agency reviews. Want to know what it’s like working with a company before you sign on the dotted line? Look at some online reviews. You should be able to find ample reviews for any insurance option worthy of your business. Be careful to avoid reviews that seem phony – overly enthusiastic or structured in a way that a real person would not write. When you find the real thing and the reviews are good, you know you’ve discovered a quality agent or agency.
  • Don’t buy directly from an insurance company. Agents from these large companies are not knowledgeable about the wider insurance landscape and are really just in place to make sure their company gets your business. An independent agent will understand the larger industry and will be able to direct you to products that best serve your needs.
  • Choose an A rated company from AM Best. This is a third party that evaluates different insurance companies’ financial strength. Accredited third party reviews like these help structure the entire insurance market, because consumers alone are often not sophisticated enough about the life insurance market to make these evaluations. Their criteria will offer you facts you won’t find in life insurance marketing media – a valuable provision in the complex world of insurance.

Term life insurance is usually very affordably, but this doesn’t mean that you shouldn’t still look for the best price. With many options available on the market, it’ll take a little research, but you’ll save for months and years to come, so the extra effort it worth it. Good luck in the hunt!

5 Innovative Ways to Keep Your Business Productive

5 innovative ways to keep your business productive

Time is the most valuable resource, but it’s one of the few things that no one can actually control. However, business owners can get organized and adapt better ways to control how productively they use their time.

Not all ways to improve productivity are straightforward. Sometimes, it can be difficult to find the necessary ways to do so. Here are five innovative things they can do to keep their businesses productive around the clock.

Streamline Workflows

In the current digital world, businesses have moved towards a paperless office. There is hardly any document that they store in hard-copy format. One of the best ways to be productive in these circumstances is to use mobile devices to print business documents.

Using mobile devices provides employee mobility. It also reduces the demand for significantly large networks desktop computers. Furthermore, it reduces paper waste and increases security.

Try Polyphasic Sleep

A recent research has indicated that sleep deprivation cost many businesses in the United States over $411 billion collectively. Taking this into account, polyphasic sleep can be an alternative to traditional sleep patterns. It is a type of sleep hack that disrupts the normal monophasic sleep and be able to sleep 30 minutes every six hours.

This approach can help a business owner to get the rewards of a normal seven-hour sleep and also makes them more productive.

Enhance Employee Safety

Businesses should do several things to protect their employees against injury. Everyone in a business that is informed of the rules on their safety and the reasons they are in place can be more productive.

Businesses should also make sure all the employees have clear responsibility for workplace health and safety for better results. But do not forget to have a marijuana blood test. It is the best way to get to know the exact amount of cannabis that is in the employee’s system.

Eat Well

Many employees in the current fast-paced world feel so pressed for time that they don’t take meal breaks. This has an adverse impact on their efficiency and concentration. Take enough time to eat lunch or grab a few snacks to help you remain fully charged for the rest of your day.

Turn Off Email Alerts

Too many email alerts are the number one distraction in the day of an employee. It is a notorious productivity and time killer. When emails come in, alerts ring. This drags the individual away from the tasks they were working on. There is no way a business person can ignore an email alert. It is human nature to want to respond to such alerts. Business productivity can increase significantly when one turns away the alerts

If a business owner wants more work done within less time, they need to get organized. This can enable them to stay focus, but that’s not all that one needs. Forwarding-thinking individuals follow the above innovative strategies as well.

No money? No resources? No reason not to start a business!

start a business

Starting your own business can really change your life and has the possibility of turning into something really amazing.

However, quitting your day job, leaving everything behind and putting everything you’ve got into a pretty uncertain future isn’t always the best idea. It’s also not something a lot of people can afford or manage.

But, what if you’ve still got that entrepreneurial fire burning inside of you and have that one business idea you just can’t get out of your mind? Should you just forget about it because you don’t have the financial stability and manpower to bring it to life?

Definitely not!

Sure, it will be hard and it will take a lot of effort and dedication to see it through, but it doesn’t mean that it’s not possible. Some of the largest and most influential companies today were started out of garages and dorm rooms with nothing more than a desire to make a difference.

So, how do you tackle the problem of not having the money or the resources to start your own business the traditional way? We’ve come up with a few ideas that will help you realize that the only thing you need to start a business is a bit of free time and a passion for what you do.

wrike work management

1.Use an online planning tool

Mapping out your business strategy and your business plan is much easier if you use an online project management tool. Tools like Trello, Wrike or Evernote will make segmenting tasks much easier and allow you track your progress in great detail. They’re all free and will help you stay organized.

create a free website

2.Create a free website

SITE123 is an incredible free website building platform that will transform the way people create websites. Its easy to use interface and incredibly intuitive features, as well as dozens of pre made layouts have already made it a favorite among small business owners.

It comes with layouts designed for different industries such as restaurants, stores, and hotels.

create an online store

3.Add an online store

If you’ve got something to sell, having an online store is a must. SITE123 offers a range of third party e-commerce apps you can add to your website and have a full-blown, working online store in seconds.

Apps such as Ecwid and Selz make it easy to keep track of orders and calculate shipping rates, and make it easy for your customers to shop. Apart from a quick run to the post office, it won’t cost you a dime.

give your customers to option to fund you

4.Give your customers the option to fund you

It’s the year of the entrepreneur and funding a project has never been easier. Crowdfunding websites such as Kickstarter and GoFundMe changed the way people finance their startups. You can opt for one of these platforms, or you can add a Donately widget straight to your website.This donation app will allow your customers to skip the middleman and give money directly to you.

Wrap up

If you’ve got a great idea and a solid business plan, the only other thing you need to start a business is passion and your laptop. We’ve listed just a few essential tools you should have, but there are many more that you can use to successfully run a business on your own.

All of these tools are free and take seconds to set up, leaving you enough free time to focus on doing what you love.

Ready to start a business? Create a free website and watch it take on from there!