Recouping from a move...

Nakatomi2010

So, I'm planning to move for business reasons, but I'm going to move of my own free will... In that I'm moving to better myself within a company...

So, its a personal move for business reasons....

Is there a way I can claim this on my taxes, or is the entire move coming out of my pocket?

Feral

What do you mean by "business reasons?" Did you get a new job?

Nakatomi2010

Feral wrote: »

What do you mean by "business reasons?" Did you get a new job?

No, they're getting ready to do some things in the area that will allow for better things to happen...

It's a strategic move, putting myself in a position of value for when the company does what they say they're going to do....

xThanatoSx

What's the time frame on the company doing what they've said they're going to do?

And is there a chance that they're not going to follow through with what they're planning?

Feral

Edit: wait, I don't understand. Are you starting a new job, or are you moving due to a possible transfer?

You might actually have screwed yourself by moving too early.

xThanatoSx

Nakatomi2010 wrote: »

So, I'm planning to move for business reasons, but I'm going to move of my own free will... In that I'm moving to better myself within a company...

I'm reading that as a transfer w/in a company.

Feral

Basically, if you take a new job or move offices within in a company within 13 weeks of a move, and it satisfies the distance criteria below, then it's tax-deductible.

The distance criteria is that your commute would have increased by 50 miles had you stayed at your old home. So if your old commute was 10 miles, and your new office is 60 miles away from your old home, then it's tax-deductible. If your old commute was 10 miles, and your new office is 50 miles away from your old home, then it's not tax-deductible.

Also, you have to work at the new job or new office full-time for at least 39 weeks before you can deduct it. (If your taxes come due before you meet the 39 week requirement, then you can still file for the deduction as long as you expect to work there for 39 weeks. And it's 39 weeks at that general location, not 39 weeks for the same employer. So if you get to week 20 and say "fuck this" and quit and get a new job down the block, you can still deduct your move as long as the new job also satisfies the distance requirements.)

Make sense?

Nakatomi2010

I'm transferring myself, with the approval of the higher ups, to another location, same position, same pay rate, just a different location about 240 miles away... The biggest question is if a voluntary transfer wualifies... From the description above, it looks like it would....

Feral

Nakatomi2010 wrote: »

The biggest question is if a voluntary transfer wualifies... From the description above, it looks like it would....

Yes.

The actual reasons you move don't matter. You could be moving to be closer to your girlfriend, or because you like the climate, or whatever. All that matters is that you satisfy the time and distance requirements.

Nakatomi2010

Sweet, you're all going to help pay my moving expenses.... Kick ass...

Feral

Here's the official IRS page on it: http://www.irs.gov/publications/p521/index.html

Crashtard

I hate paying taxes

xThanatoSx

... is there anyone who actually LIKES paying taxes?

Sir Headless VII

I do I'm a student and the government pays me.