Helpful Moving
Guide - Saving Money When You Move
Tax Deductions
Did you know that some of the expenses of
moving are tax deductible? If you'd like
to get any of the following expenses claimed
against your tax, read on and see if you
qualify.
- Cost of transportation or hauling from
old to new residence.
- Cost of packing, crating and unpacking.
- Cost of shipping your car.
- Cost of moving the pets.
- Cost of the trip to the new residence
which includes lodging but not meals
Take into account that these deductions
must not be excessive amounts, but the real
question is, do you qualify for the deductions?
All taxpayers are eligible, even if they
don't file itemized returns, as long as
you are:
Moving to a new residence for the purpose
of employment, whether it be as an employee
or self-employed.
Moving to a new job, at least 50 miles
farther from your new residence than your
old job location.
A full-time employee and employed within
the vicinity for at least 39 weeks of the
first 12 months of occupancy.
A self-employed individual, who will work
in the new location for at least 78 weeks
during the first 24 months following the
move, of which 39 weeks must be within the
first 12 months.
Moving to a foreign country, or for military
service (These options fall under special
limitations, so it's best to consult a professional
tax advisor before claiming them).
Preparation And An Inventory Averts
Trouble
- Take down ceiling fans prior to moving
day. Movers will charge you for the cost
of an electrician to do it.
- Purchase enough insurance to over damage
to especially valuable items, or transport
them yourself separately. Movers may not
pay for damage to items you pack yourself.
- Hire a piano specialist to prepare
your piano for the move. Service to a
piano will add a hefty additional charge
to your bill if the mover does it, and
there's a greater chance of damage. If you have many books, pack them yourself
and mail them book rate to save significantly
on the cost of your move.
- Grandfather clocks should be dissembled
by a clock specialist prior to moving
day.
- Ask the mover to inventory your items
and check the inventory carefully to be
sure everything is included.
- Check polished table tops and antiques
for any existing damage (nicks and scratches)
and note its exact location.
Note down the location of all existing
damage (worn areas, pulls) to fabric on
furnishings.
- Disconnect the water to the washing
machine and refrigerator and gas to the
dryer and range prior to moving day to
avoid a surcharge.
- Confirm on the inventory that all goods
with moveable parts are fully operational
prior to the move.
Eliminate Rather than Relocate
While you're organizing or packing for your
move, sift and sort. Use a heavy hand toward
the trash can, and let common sense be your
guide.
Have a Garage Sale
If you are like most people, you have in
your possession many items you really have
no use for anymore. Sponsor a garage sale
before your move to give yourself a little
junk relief! You just might raise enough
money to pay for your moving expenses! Remember,
one man's junk is another man's treasure!
If you don't need it, unload it. Rule of
thumb: if you haven't used it in the last
12 months get rid of it.
Ignore the "I Might Need It
Someday" Syndrome
Don't move the riding mower to an apartment.
Part with tools you won't have a place to
use. And remember, junk is junk. You don't
need a furnished attic.
Donate to Your Favorite Charity
Itemize the items and keep a receipt. It
may help you qualify for a tax deduction.
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