Sometimes, you have to move because of a change in your job or business location. Or, maybe it’s because you start a new job or business. The IRS allows you to take a mileage deduction on your taxes for these moves. Let’s take a look at deducting moving expenses on your tax returns and the moving expense deduction rules.
It was Walt Disney who said, “We keep moving forward, opening new doors, and doing new things, because we are curious and curiosity keeps leading us down new paths.” The world is shrinking and this quote has never been truer for us. Our professional lives no longer have the same boundaries as before. And we move for work and yes, the Internal Revenue Service (IRS) recognizes that and lo and behold lets us deduct moving expenses on our tax returns.
Read on… this truly gets more exciting (in a very tax nerdy way, if you know me!)
Let me not get you too excited! Not everyone can deduct moving expenses. There are Read more
The Internal Revenue Service issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, medical, charitable or moving purposes.
Beginning on January 1, 2014, the standard mileage rates for the use of a car (also pickups, vans, or panel trucks) will be:
• 56 cents per mile for business miles driven
• 23.5 cents per mile driven for medical or moving purposes Read more
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