deductible moving expenses

• Expenses Are Deductible When Moving for a New Job

Can you get an income tax deduction for your moving expenses? It depends. If you moved your home because of a change in your job or business location or because you started a new job or business, you may be able to deduct your moving expenses. The move must be because of a job. It doesn't matter if it's a new job, the same job or your first job.

• Intelligencer Journal Lancaster New Era - Saturday Edition
• September 26, 2011

• Rev. Proc. 2007-70

announces 50.5 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 19 cents as the optional rate for use of an automobile as a medical or moving expense for 2008. The procedure also provides rules for substantiating the deductible expenses of using an automobile for business, moving, medical or charitable purposes.

• United States. Internal Revenue Bulletin
• August 21, 2009

• Federal Travel Regulations:

... reimbursements for taxes on relocation expenses. In addition, this proposed rule alters the proces... was amended to exclude from income certain moving expenses that are reimbursed and otherwise would bbe deductible. At the same time the IRC was amended to make fewe...

• FR, June 06, 2011
• Proposed rules
• General Services Administration

• Rev. Proc. 2008-72

announces 55 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 24 cents as the optional rate for use of an automobile as a medical or moving expense for 2009. The procedure also provides rules for substantiating the deductible expenses of using an automobile for business, moving, medical, or charitable purposes.

• United States. Internal Revenue Bulletin
• September 02, 2009

• Getting a move on.

Tax treatment of moving expenses Whether expenses incurred in finding a new business location and moving to that location are deductible or must be added to basis depends on the characterization of the asset to which the expense is tied. Fees for consulting, feasibility studies and legal services are currently deductible, as are the costs of moving equipment. Expense incurred to create or buy a capital asset must be capitalized. Costs incurred in considering a site ultimately not chosen are deductible. Potentially deductible expenses must satisfy the economic performance and all events tests.

• Journal of Accountancy
• Vol. 179 Nbr. 2, February 1995

• Rev. Proc. 2005-78

announces 44.5 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 18 cents as the optional rate for use of an automobile as a medical or moving expense for 2006. Special rates apply to the charitable use of an automobile for the provision of relief related to Hurricane Katrina. The procedure also provides rules for substantiating the deductible expenses of using an automobile for business, moving, medical, or charitable purposes.

• United States. Internal Revenue Bulletin
• August 06, 2009

• Rev. Proc. 2006-49

announces 48.5 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 20 cents as the optional rate for use of an automobile as a medical or moving expense for 2007. The procedure also provides rules for substantiating the deductible expenses of using an automobile for business moving, medical, or charitable purposes.

• United States. Internal Revenue Bulletin
• August 13, 2009

• OBRA and NEPA change tax treatment of moving expenses and short-term assignments.

changes in the deductibility of employment-related moving expenses have disallowed all deductions except for the cost of moving household and personal items and travel expenses in moving when the new job is at least 50 miles farther from the old home. Businesses will no longer need to report reimbursements made for deductible moving expenses on IRC Form 4782, but the deduction will now be above the line. The definition of deductible temporary work assignments has been simplified to include all assignments anticipated to be completed in less than one year.

• Tax Executive
• Vol. 46 Nbr. 5, September 1994

• 26 CFR 1.217-1 - Deduction for moving expenses paid or incurred in taxable years beginning before January 1, 1970.

...577). (2) Commencement of work. To be deductible, the moving expenses must be paid or incurred by t...

• Code of Federal Regulations - Title 26: Internal Revenue

• Post-RRA moving expenses.

Revenue Reconciliation Act of 1993 The moving expenses incurred related to the relocation of a taxpayer's principal place of work that are deductible include moving costs, traveling costs and lodging. Real estate fees and temporary living expenses are no longer deductible. A qualifying move must be motivated by a relocation of workplace that is more than 50 miles further from the old residence than the prior work location had been. Employer reimbursements of moving expenses are excludible from income to the extent that the taxpayer would have been able to deduct the expenses and the taxpayer has not deducted the expenses.

• The Tax Adviser
• Vol. 25 Nbr. 5, May 1994