Are Moving Expenses Tax Free?

The tax laws surrounding relocation services and expenses, as with all tax laws, can get quite intricate and complicated. However, you don’t need to feel overwhelmed as we have put together a helpful guide for you to help you determine which, if any, moving expenses can be considered tax free.

The first step in determining this is finding out whether or not your move can be considered a qualified move by the IRS. In order for this to be the case, the following stipulations must be met:

• The move must happen close to the start of a new job
• The commute to your new job must be 50 miles farther from your old house than the commute to your old job from your old home
• You must work at the new job for at least 37 out of the following 52 weeks

If your move is indeed a qualified move, you can then go about tracking and keeping detailed records of your moving expenses, as many of them can be considered tax free. Some of these expenses include but are not limited to:

• Relocation and in-transit storage of belongings, which include cars and pets
• Travel expenses such as gas and lodging
• House hunting expenses in your new city of residence

For more assistance regarding relocation and the applicable tax laws, you can feel free to consult with a moving specialist at Atlantic Relocation Systems. Our talented and knowledgeable staff is standing by and ready to help with every aspect of your move from start to finish. Our movers are also well equipped with state-of-the-art moving trucks that will ensure the safe transport of all your belongings, no matter where you are moving to. And all of them have years of industry experience and can move just about any household item with care and precision.

To schedule a free consultation, which includes a guaranteed price estimate, contact Atlantic Relocation Systems today and make your next move a breeze.