Moving Season: KYB Do's & Don'ts-Charitable Donations & Saving Money

09 Jul Moving Season: KYB Do's & Don'ts-Charitable Donations & Saving Money

Posted at 08:30h in

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by Melissa Wilson  •  0 Comments

College-Moving-boxes-iStockSummer is the most popular time of year for moving. Upgrading your small business' headquarters or moving into a new family home can be stressful and expensive.  KYB's accounting experts understand that saving money in the most unexpected places can have positive effects on your company's bottom line.

Moving is stressful business even if you're prepared.  Below are some do's and dont's to ensure you don't get ripped off and you save as much money as you can during the transition. 

The DO's 

a. Plan Ahead -  Planning as early as possible helps lower stress and ensures you don't get ripped off! Even dedicating a half day to calling and having movers come out to your house can save you money and stress later on. 

You might think that any moving company can load and unload items right? Well, all movers are not created equal. To protect your move read about the red flags of non-legitimate movers as well as the regulations that govern moving companies. 

b. Always Research Movers - Even if you're too busy to brush your hair, make sure you set-aside some time to check out the reviews for your prospective moving companies. 

According to TIME, The Better Business Bureau fields 9,000 complaints every year against moving companies.  Linda Bauer Darr, CEO and president of the American Moving & Storage Association, warns, "A con artist with just a truck and a website can claim to be a legitimate mover, with unfortunate results for consumers who don't check out a company in advance.

c. Purge, Purge, Purge - Don't Forget to get a receipt!  Move on to better or perhaps different things. If you're downsizing you might not need all your furniture/equipment. If you are upgrading then in lieu of selling outdated or used electronic items you can donate them, which could prove more cost effective for your business' bottom line. 

Donate_Image

Donating can have positive effects on your personal and business tax returns. Some tips when making charitable contributions:

  • You must actually donate cash or property (promising to donate doesn't count)
  • You must contribute to a qualified tax exempt organization
  • You must be able to itemize (form 1040-Schedule A), and
  • You must meet record recording requirements. 

Here's an IRS guide for Deducting Charitable Donations

The DON'Ts

a. Don't rely on an online price quote. Movers often need to see what's being moved to give an accurate quote. Avoid being surprised when the company you already chose to go with gets to your space and then increases the price. Always schedule a time for them to drop by to see what you need moved. 

b. The Cheapest is not always the Best!  Be sure you know what is included in the cost. Ask a lot of questions and get your answers in writing. Do you have to pay for boxes? Do they pack or do you? If you pack for yourself a lot of movers won't accept liability for broken or damaged items. State-to-state moves are usually based on weight and distance. Whereas, local moving is an hourly rate. 

c. Warning Signs - Requiring a big upfront deposit, not providing specific information on their address or insurance coverage. answering the phone 'movers' instead of with a company name, or having a truck that is a rental or doesn't have the company logo on it are huge warning signs that those movers are not legit. 

At Keeping Your Balance, we love numbers.  Have KYB's professional accountants work for you via the cloud so you can work for the growth of your company anytime, anywhere! At KYB, we appreciate our clients!  Become a part of our cloud accounting family by contacting us, liking us on Facebook and following us on Twitter.

 

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