Are You In The Process Of Moving?
We Can Help You Write-Off Your Moving Expenses
The changing economic times have made individuals travel further and further to gain employment opportunities. At Blackthorn Group, we can help provide some relief to the expenses you have incurred as a result of moving. Our team of professionals has exceptional knowledge and experience in this field to help you deduct your moving expenses!
In this section will include information on: eligibility, which moving expenses are eligible for deduction, non-eligible moving expenses, and how we can help you receive these moving expense tax credits.
- If you are employed and incur moving expenses as a result of moving closer to your workplace, you are eligible to deduct such moving expenses from your employment income.
- If you are self-employed you can deduct moving expenses on income earned as a result of moving to the new location
*If you have received an allowance or reimbursement from your employer for moving expenses, you must include it in your income. You can reduce your moving expenses by the amount you have received as an allowance or reimbursement.
Which Moving Expenses Are Eligible for Deduction?
You are allowed to deduct expenses you have incurred moving yourself or family members. Some of these moving expenses include the following:
- Transportation and storage costs such as, parking, hauling, fuel costs.
- Travelling expenses include; vehicles expenses, meals and accommodations for you and your family members
- Costs for up to 15 days for meals and temporary accommodations.
You are also able to deduct expenses incurred selling your old residence and moving into a new residence. These moving expenses that can be deducted include the following:
- Legal costs for the purchase of new residence as well as any taxes paid for the transfer of title or registration to the new residence.
- The cost of selling your old residence, including: advertisement, legal fees, real estate commission fee, and mortgage penalty if mortgage is paid before maturity.
*You can also claim up to $5000 for costs of maintaining your old residence. Eligible expenses would include: cost of interest, property taxes, heat and utilities paid. You must also prove that you made reasonable efforts to sell the house during this time period.
Which Costs Are Not Considered Moving Expenses?
The following is a list of expenses that you are not allowed to deduct as moving expenses:
- Expenses required to make your house more sellable.
- Any loss you have incurred as a result of selling your house.
- House-hunting trips looking for your new residence
- Expenses from job hunting in the new location
How Can We Help You Receive Your Credits from Moving Expenses?
- We have tremendous amount of experience in filing moving expense tax credit in conjunction with personal and corporate tax returns. We work hard to get your refund from the government.
- We have the knowledge to use moving expense credits to help reduce your taxes payable and keep more money in your pocket.
- We provide fast, reliable, and efficient service at low cost.
- We have timely service so that you are able to receive your refund when you need it the most.
Feel free to contact us at 905 789 8827 to book your FREE consultation session. You are one step away from receiving the moving expenses REFUND for which you are ELIGIBLE.