Tax Update - Moving Expenses

Moving is a hectic task that not many people enjoy. But, when moving for work (as long as it past the distance and time test) you at least received a deduction for the expenses that you inquired. In 2018 those deductions have been 

removed. 2017 and prior you have been able to use the storage, up to 30 days. Traveling expenses including you lodging, but not meals, have been deductible in the past as well. However, in 2018 unless you are a member of the Armed Forces and are moving due to change of station, these deductions have been eliminated. These are new factors to consider when contemplating the change of employment, if one requires you to move. For more information please call our office to make an appointment with one of our licensed tax preparers.