RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Moving Next Year? Standard Mileage Rate Announced

December 29, 2015 12:18 am

Moving in 2016? You may be able to deduct some of the expense. Beginning January 1, 2016, the optional standard moving mileage rate used to calculate the deductible cost will be 19 cents per mile driven, according to the IRS.

The mileage rate, based on variable costs, applies to moving via car, van, pickup or panel truck.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Other requirements for taxpayers to use the standard mileage rate for moving purposes are in Rev. Proc. 2010-51 (www.irs.gov/pub/irs-drop/rp-10-51.pdf).

Notice 2016-01 (www.irs.gov/pub/irs-drop/n-16-01.pdf) contains the standard mileage rates and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.

Source: IRS.gov

Published with permission from RISMedia.


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Want to Stick to Your New Year’s Resolutions? Buddy Up!

December 28, 2015 12:12 am

We get by with a little help from our friends—and as it turns out, friends play a big role when committing to New Year’s resolutions, too.  According to a recent survey by SKOUT, goals involving fitness, finance or fashion have a greater chance for success with the support of a friend.

When it comes to fitness, for instance, nearly 85 percent of survey respondents say they get a better workout when they exercise with a friend, and more than half prefer friendly encouragement over gadgets like fitness bracelets to help them achieve their goals.

Those who make resolutions to improve their financial situations also fare better with friends—over half of survey respondents who have seven or more good friends say they’ll set aside more money for retirement.

Those planning a wardrobe makeover in the New Year benefit from friendships, as well. Nearly three-quarters of female survey respondents say they’ll feel confident about their new look if friends pay them compliments. That’s the understatement of 2016!

Source: SKOUT

Published with permission from RISMedia.


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