Tax Tuesday: The big move

The only constant is change -Heraclitus, a Greek philosopher. (Yes, I had to wikipedia the quote so I could correctly cite the right person. I honestly don't know who that guy is. But hes pretty smart and his saying is famous)

This is true when it comes to jobs. When I look at most of my college friends they have graduated college, spent so much time looking for just any job due to the economy, built up their resume, and then switched. Or started with a job, decided they never should have picked their major, and switched. Many times friends have left the city, state, and country to do so. (Not that either of these apply to me and I'm not looking to leave my job, I am simply noting the trend). 

Yes, we are in a world where people change their jobs more than they change their hairstyles. It only makes it that much more important to uncover the hidden tax treasure of "The Big Move".

New Job? Same Job? Your First Job? Doesn't matter. You have to pass two tests to deduct your moving expenses:

1. Is your "New Job" and "Old Home" commute 50 miles greater than your old commute? If yes? continue. If no? You did not pass go and you do not collect a tax deduction.

2. Did you work 39 weeks out of the first 12 months of your move? This stops those government-money-stealing people who are looking for a tax break, so they move to Hawaii and work at starbucks for a week just to quit and have some of the moving expenses deducted. (really? who does that?)

And what do you win? For playing "The Big Move" you win the following deductions:

1. 16.5 cents per mile driving to your new home. which doesn't work so well if you want to drive to Hawaii, don't try it. 16.5 cents is nothing really

2.The cost of packing and shipping your possessions. AWESOME for Hawaii. and for those pack rats out there

3. The cost of travel to your new home- lodging, not meals. 5 star hotels with mcdonalds fries please

4. The cost of disconnecting your utilities and setting up your new ones. Yes, you can still use your blowdryer in Hawaii. Sweet.

What is the best advice? Save your receipts. You never know when you will discover that you can deduct certain items in your move... or defend yourself to the IRS. But don't worry, you can deduct the cost of moving your receipts with you to your new home. (or be practical and scan them into your computer, but whatever works for you)