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February 2, 2017

How your move affects tax season [Video]

  • Tips and tricks
It's possible to deduct certain moving expenses if you know what to look out for.

If you're not properly prepared, moving can be a huge hassle. That's not even considering the taxes that can have a huge impact on the whole process.

For those who moved as part of a corporate relocation program, you can deduct most of your moving expenses if you meet the 50-mile rule. That is, your new commute to your office must be at least 50 miles farther than from your previous residence.

There is also the time test: Everyone who takes deductions must work at least 40 hours for 39 out of 52 weeks after you've moved.

If you meet those two rules, it's important to keep in mind that there are only a few things you can deduct. These include new utility hookups at your home, packing and shipping expenses, lodging during the moving process, and the cost of gas. If you deduct anything else, it might complicate your annual tax-filing.

If you hire the right moving service, you can remove undue stress and focus on other areas of your move, like taxes. Atlas Van Lines will help you with every step of the process!