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Do You Qualify for a Moving Expense Deduction?

by Allyson Hoffman

Have you recently moved or relocated as a result of a new job or job transfer? If yes, you might like to know that some of the costs associated with a move of this type may be used as a moving expense deduction on your income taxes. A few of things to keep in mind that help in determining if you would qualify for a moving expense deduction include:

  • The distance between the old home and the new job must be at least 50 miles
     
  • If you move within a year of taking the job at the new location
     
  • If you work full-time for at least 39 weeks (the total is 78 weeks if you are self-employed)


Whether a homeowner or renter, you can deduct the cost of moving household goods and the direct cost of moving you and your family. You can also deduct expenses for lodging during the move but not meals.

It is important to keep detailed records of all expenses during a move 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. For additional reading regarding moving expenses, the IRS publication No. 521 entitled "Tax Information on Moving Expenses" is also a great resource.

Image courtesy of Hitcom/Pixabay.com

Things To Be Aware of When Moving With Children

by Allyson Hoffman

Moving can be extremely stressful especially if you have children. It is important to be aware of the things that may be a concern to your children when making a move.

A few areas of concern for children when making a move may include:

  • Preschool children tend to worry about being left behind or separated from their parents.
  • Kids aged 6 to 12 can be concerned with how their daily routines will be affected.
  • Teenagers are concerned primarily with fitting in and having their social life disrupted.

A way to ease these concerns may include:

  • Communicating with your child about what the new house will be like.
  • Take them on a visit of the new home and neighborhood (if possible)
  • If you can, visit the school with your child and meet some of the teachers.

Involving your children in the move can help make the transition easier. Your kids can be a great help to you and the move if you involve them such things as:

  • Packing some of their own special belongings, and decorate the box with stickers and markers.
  • Make plans together on how to decorate their new room.


There is a lot to consider during a move and by involving your children you just may relieve the stress your children are feeling, reduce your own stress and be able to focus more on other aspects of your move!

Photo courtesy of ashleigh290/Flickr.com

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview IL 60025
847-310-5300
Fax: 847-400-0881

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview, IL, 60025

(847) 310-5300
[email protected]

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