Welcome to our sample edition of our complimentary newsletter, "Movin' On." If you decide to subscribe to receive the monthly issues, on-line, there is no cost to you. It is our way of reminding you we are here and allow us a way to tell you about the new books and manuals we will be offering.
IRS raised the deductible amount on car allowances, through December 2005, for business related mileage to 48.5 cents a mile. NOTE: Driving from your old location to your new location when relocating, the deductible amount is increased to .22 cents a mile. The tax agency will re-evaluate the rates again in 2006.
Taxpayers who use the automobile mileage rate to figure their business auto deductions cannot claim a separate depreciation deduction for the car, since it is already included in the mileage rate. To use the standard mileage deduction, deduct 48.5 cents for each business mile driven in that tax year, plus any tolls and parking fees. This avoids having to record the actual expenses of driving the automobile for business purposes.
When notifying everyone of your change of address information, do not overlook the IRS. Internal Revenue Services mail (notices, refunds checks, etc.) are never forwarded to a new address. Each state you are reporting any tax issues to should also be notified in a timely manner.
The pen is mightier than the sword, and considerably easier to write with.
TOP TEN RELOCATING CONCERNS:
According to a recent survey, people who are moving report they have these concerns:
- Feeling out of control of things happening.
- Having to make rapid decisions.
- Adapting to a permanent or temporary lifestyle.
- Replacing family lifestyle.
- Selling their existing home.
- Evaluating the financial effect of the move.
- Adjusting to a new job.
- Finding a job for the spouse.
- Leaving familiar surroundings and routines.
- Enduring the possible temporary family separation.
AIRPORT PARKING REMINDER:
If you are going on a homefinding trip, do not leave the parking lot ticket in the car. A car thief with the ticket can leave the parking lot with the car without a problem.
NEW HOME WARRANTY:
When shopping for a newly built home, carefully scrutinize the warranty. What kind of protection is given against structural defects or problems in the plumbing, heating and cooling systems? Look for an "insured" warranty, written by an independent warrantor.
If the builder goes out of business you have to pay any repair bills. A "builder's warranty" usually is a one-year protection plan not backed by an independent source.
We are never so happy nor so unhappy as we imagine.
HELPING THE CHILDREN:
Have a going away party for the children to invite their friends. Ask each friend to bring a letter in a sealed envelope for your child, collect them and pass them out to your child during the trip to your new home.
Make a poster board with pictures of your new home and the new city. The guests can see where their friend is moving to and generate some enthusiasm and anticipation in your child.
REDO YOUR WILL:
When moving to a different state, it is important to contact an attorney about whether your current will and guardianship for your children will need to be adjusted in order to be in compliance with the law of your new state.
Moving often means selling or getting rid of assets which were originally scheduled to be left to specific beneficiaries.
State laws differ regarding wills, guardianship and many aspects of how the document is actually drawn. For example, many states do not recognize handwritten wills, even if witnesses have signed it and it has been notarized.
Add this to your list of top priorities!
TAKING CONTROL OF YOUR TIME:
List everything you have to do today in order of priority.
- Make time for things that are important, not just urgent.
- Set a starting time and a deadline for all projects.
- Make big projects into bite-size pieces.
- If you run out of energy, switch to another project.
- Learn to say no when you are already overloaded.
- Take quiet time for yourself every day.
Motivation is like bathing. It may not last, but it's still a good idea now and then.
Oregon and New Jersey are the only states which do not have self-service gas stations. By law, you may not pump your own gas in either state.