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Moving And Taxes
Even with the changes in tax laws over recent years, you may be able to deduct some of the expenses of a move that is the result of a change in your job.
You will probably be able to deduct the costs of your move if your new work location means more than an additional 50-mile commute, if you move within a year of taking the job at the new location, and if you work full-time for at least 39 weeks (the total is 78 weeks if you are self-employed). You should keep meticulous records of all of your expenses and consult a tax expert to make sure that you take all the lawful tax deductions allowed by the IRS criteria for expenses related to selling your old home or buying your new one. The IRS publication No. 521 entitled “Tax Information on Moving Expenses” makes good reading before you make a move.
Read this online and get more information: Moving And Taxes
The Author: Scott Lauri
About: Scott Lauri is broker/owner of ERA Absolute Realty a full service real estate company in Central New Jersey. He has over 10 years of Real Estate industry experience dealing with peoples real estate needs for buying and selling homes and investment properties. He is interested in helping people realize the dream of home ownership and wealth building and has worked with 100s of clients over the years. Scott is a member of the National Association of Realtor (NAR) and a graduate of Rider University. He enjoys skiing and spending his free time with his family.
This entry was posted by Scott Lauri, on Tuesday, November 11th, 2008 at 8:18 am and is filed under Featured, Home sellers, Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response on the right, or trackback from your own site.
2 Responses to “Moving and Taxes”
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November 11th, 2008 at 8:30 am
[…] Scott Lauri wrote an interesting post today onMoving and TaxesHere’s a quick excerptYou will probably be able to deduct the costs of your move if your new work location means more than an additional 50-mile commute, if you move within a year of taking the job at the new location, and if you work full-time for at least … […]
November 11th, 2008 at 8:45 am
Nice site. There?s some good information on here. I?ll be checking back regularly.