Monday, August 6, 2012

Find out which of your moving expenses may be tax deductible

Income tax Services - If you’ve moved due to a change in your job location or you’ve started a new job, you may qualify to deduct your moving expenses if you meet three requirements:  
       Your move is related to start of work
       You meet the distance test
       You meet the time test
Find out if you can deduct moving expenses; what moving expenses are deductible; what moving expenses are not deductible; how a reimbursement from your employer affects your moving expense deduction; and how and when to report moving expenses.

Moving is stressful enough. Save time and money by seeing if you qualify for a deduction. 
Different rules apply to members of the armed forces. If you are a retiree who was working abroad, or a survivor of a decedent who was working abroad, and you move to the United States, different rules also apply.

For complete information, refer to Publication 521, Moving Expenses or contact us today for no obligation fee consultation.
Amare Berhie, Tax Advisor
612-282-3200
866-936-0430 Toll Free

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