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Tax Deduction Consulting: Relocation Manchester NH

There was a time when people tended to stay in one place much longer and the retirement party where the worker was getting a gold watch for 50 years of service was not uncommon.

Mr. James E. Knee (RFC®), MBA
(603) 224-1010
6 Loudon Road, Suite 505
Concord, NH
Company
Sterling Financial Services, LLC
Qualifications
Education: B.S., University of Bridgeport;MBA, Southern New Hampshire University;Advanced Certificate in International Business;Series 24 Registered Principal License;Series 7 and 63 Securities License;NH Health and Life Insurance License
Years of Experience: 26
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Education Plan, Asset Protection

Data Provided by:
Fishers Income Tax Svc
(603) 622-2057
616 Mast Rd
Manchester, NH

Data Provided by:
H&R Block
(603) 647-6974
1328 Hooksett Rd
Hooksett, NH

Data Provided by:
Melanson Heath & Co PC - Linda Imhoff CPA
(603) 882-1111
102 Perimeter Rd
Nashua, NH

Data Provided by:
J Walker & Co LLC
(603) 224-4829
104 N State St
Concord, NH
Hours
Mon 09:00 AM-05:00 PM;Tue 09:00 AM-05:00 PM;Wed 09:00 AM-05:00 PM;Thu 09:00 AM-05:00 PM;Fri 09:00 AM

Data Provided by:
H&R Block Inside Northside Plaza
(603) 628-1976
67 HAMEL DR UNIT B4A
MANCHESTER, NH

Data Provided by:
Danis & Company
(603) 656-9041
169 South River RD #14
Bedford, NH
 
Steele Associates
(603) 673-4660
54 Nashua St
Milford, NH

Data Provided by:
Kline & Company, CPA, P.C.
(603) 881-8185
141 Main Street
Nashua, NH
 
Devereaux & Ean-Dixon Bookkeeping LLC
(603) 717-1214
PO Box 2794
Concord, NH
Prices and/or Promotions
10% off of individual tax return prep

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Tax Deduction Consulting: Relocation

Relocation Tax Deduction

Americans are becoming increasingly mobile all the time. Strangely enough, the IRS seems to be encouraging this mobility as the relocation tax deduction is one of the most liberal of all deductions.

There was a time when people tended to stay in one place much longer and the retirement party where the worker was getting a gold watch for 50 years of service was not uncommon. Today, people seem to be much more mobile and job hopping is the norm. Since we tend to blame just about every other woe on the IRS, we can suggest that they might be the culprit here as well. The relocation tax deduction rules are some of the most liberal and surprising of all tax deductions.

The IRS allows a tax deduction for any moving and relocation expenses that are work related. The deduction is claimed on IRS Form 3903 and transferred directly to "Adjustments to Income" on the form 1040. Although you have to use the long form 1040, you are not required to itemize any other deductions. You do not have to file a Schedule A or worry about such things as percentage-of-income thresholds or deduction phase outs due to higher income levels.

The IRS imposes only two tests or rules to insure that you are legit in your move. The first is a distance requirement. The move has to involve a new work place that is at least 50 miles from your previous residence. Note that this requirement is measured from your new work office to your previous residence and not between the old and the new residence. The second rule is a time requirement. The move must be made within one year of starting the new job and you must actually work a total of 39 weeks during the first 12 months of your new employment. The weeks do not have to be consecutive.

The deduction covers the cost to move your household goods and your personal property. It also includes lodging and travel expenses. The lodging can be in the area of the old home before the move and in the area of the new home after the...

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