"NEWS NOTES"
From the office of Angle, Zaebst & Associates |
|
Are you moving as a result of a job relocation or change?
|
If you are relocating for work, you may be able to deduct your moving expenses. To qualify your new job location must be at least 50 miles farther from your former home than your old job location was from your former home.
Transportation and storage of personal and household items and travel expenses including lodging from your old home to your new home qualify. However, meals are not deductible. It is important to maintain an accurate record of expenses you paid to move. You should save items such as receipts, bills, cancelled checks, credit card statements, and mileage logs. Also, you should save your Form W-2 and statements of reimbursement from your employer. You can generally consider moving expenses incurred within 1 year from the date you first reported to work at the new location.
|
