When tax season approaches, many of you often wonder if there are things you can deduct that will net you a greater tax return. If you are moving, then you will probably want to know if your moving expenses can be deducted. In certain cases, the answer is yes! If you are moving due to a new job or a new business venture, and you will be working full time at either of those, then you can in fact deduct the moving expenses on your taxes. The only other criteria that must be met is that the new job or business must be a distance of at least 50 miles or more than the location of your previous job. You can deduct the cost of the move, as well as your own travel costs.
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