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 as a result of a job change. You also may be able to deduct the costs of your move if your new work location means more than an additional 50-mile commute. Certain conditions apply, such as 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 (bear in mind that different criteria applies to self-employed persons, so please check before you compile your taxes).

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.

If you have questions about moving, building, selecting your first home or moving up to your next home, contact DAVID BRENTON’S TEAM.

When you are serious about moving… put our TEAM to work for you!