Moving can get expensive. Whether it’s purchasing moving boxes to pack away many of the collectibles that you’ve gathered over the years or looking at hiring help to get furniture moved, costs add up quickly. If you can find ways to cut costs, every little bit counts.
You may be wondering if there is a way to write off any of those costs when it comes to paying your federal income taxes. In previous years, the government allowed tax deductions for moving expenses. In 2018, however, tax reform changed this.
Now, moving expenses are no longer tax-deductible when moving for work, unless you or your family are military members. Active duty United States military personnel that are required to move as part of their orders or a permanent change of station can qualify for tax deductions.
If you are a military member, make sure to get as much information as you can for tax purposes. This included itemized deductions, adjustments to income, and any employer reimbursements.
What else can you do to help minimize moving expenses?
If you are not part of the military, there are still several ways that you can help offset the cost of moving. If you are being transferred for work, talk to your employer about whether they plan to help with some of the relocation costs.
There are often times relocation packages for employees that will help encourage people to take new positions in a different office. This means reimbursements are available for relocations, so it is a good idea to talk to your human resources staff about those possible options.
Another option to help reduce the cost of moving is to downsize. The more things you must move, the more expensive it will be! Spend some time decluttering. Make piles for selling or donating and keep the must-haves. This process will save you money and will save you time packing!
Our experienced team of movers at Smooth Move People knows that moving can get stressful. We know that your finances play a big factor in your upcoming move and are proud to offer the lowest rates in Oregon for moving services. We work with customers to get you moved efficiently and within your budget. Contact us today to plan the details of your move with us!