Can You Get A Tax Break From Moving?

Can You Get A Tax Break From Moving

Did you know that the United States government is helping you with your move. They are doing this in several ways, but the first and probably the one that gets the most attention would have to be tax breaks. Most people don’t even realize this, but the United States government is offering tax breaks for people that have moved. What kind of tax breaks can you get from moving? What moving expenses are tax deductible? Keep reading to find the answers to these questions and more.

Tax season has begun and there are only a few days left o file your taxes. For many people, filing taxes is a big pain in the rear. They may end up owing money that they had not anticipated on, but sometimes there may be a tax refund headed their way. In order to pay less taxes and get this possible refund, people need to know what they can deduct from their taxes. The more you can deduct, the less tax that you will have to pay, and the more money you could possibly get back in the form of a refund. April 17th is the last day that you can file your taxes unless you have been given an extension by the Internal Revenue Service.

If you have moved during the last tax year, then you are entitled to some tax breaks associated with that move. You need to gather up all of your moving related expenses and get them to your accountant or tax preparer. They will know which things are tax deductible and which things are not. Here is what you should bring with you.

When you moved, you should have created a list. This list should have outlined all of the steps of the moving process. If you happen to have kept that list, it might come in handy now. You can use this list to get an idea of all of the expenses that you incurred when you moved. If you hired a full service moving company, then your receipt for the move will be good. If you decided to move yourself, then you will need your receipt for all of your packing supplies, the moving truck rental, and anything associated with the move. You may have even needed to use the services of an auto shipping company to help you move one or more of your vehicles. If you had to use some public storage facilities to store your things during the move, then these expenses may be tax deductible as well. Get all of this information together, and take it to your accountant or tax preparer.

Times are tough in America. Everyone can use as much of a break as they can possibly get, and one great way to get a break is by writing off all of your moving expenses on your tax return. Who knows, this may be all you need to get an actual tax refund, and if writing off your moving expenses earns you a tax return, go out and enjoy it, because you deserve it.

Tips To Make Moving More Affordable

Make Moving More Affordable

The economy has seen better days. It is in a slump, and everyone is scrambling to save as much money as they can. Unexpected expenses can make things a lot more difficult during times of economic crisis. A slower economy has also made a lot of people dip into their savings. Their nest eggs have been slowly chipped away. People are downsizing, and as a result they are moving. Having spent most of their savings, they may have very little left to help finance a move. Moving is not free. It is going to cost the person that is moving some money, but there are plenty of ways to save money while moving. You just have to know about them, and luckily for you, this article will let you in on some of the best kept moving secrets.

Money saving tip #1

Take inventory of your belongings. How much of your stuff do you really need? Most people accumulate things over a period of time. These things get put away in closets, attics and garages where they are quickly forgotten. Chances are you have quite a few things just like this. It is time to lighten the load. This is one moving tip that can actually make you money.

If you are downsizing, then by all means downsize! Get rid of most of your things. Sell them online. Sell them in a classified ad. Organize a huge yard sale and get rid of that stuff. You might be very surprised at just how much money you can make doing something like this. You may even be able to make enough money to finance your entire move, but you will never even know if you do not do it. The less that you have to move, the less that it is going to cost to move.

Money saving tip #2

Make a list of all of your moving expenses – nothing is worse when you are short on cash than unexpected expenses. If you create a list and write down every little expense that you are going to incur while moving, then you can completely avoid any surprise expenses. How in the world could they be a surprise expense when you have them all written down? No surprises means a tighter moving budget, which means a smaller overall moving cost.

Money saving tip #3

Do as much of the work as you can. You are going to still need to rent a moving truck, but if you can pack and move everything yourself, then you can really reduce your moving expenses. You can find moving boxes at the moving truck rental company, but you may be able to find some great moving boxes at your local grocery or department store. These stores throw away boxes every single day. All you need to do is ask someone inside if they have any extra boxes. You may be able to save quite a bit of money by getting some free moving boxes.

These are just a few ways that you can make moving cheaper. Movers.net say that if you sit down and think about it, you may be able to find quite a few more.