Each month we like to answer frequently asked questions regarding our coverage plan. Check out this month’s segment of Answering Your Questions.
Q: I’ve just been promoted at work, and my family is relocating to another state. Can we deduct our moving expenses?
A: Great news on the new job and promotion! Fortunately for you, the IRS is pretty generous about moving expenses as long as you meet certain criteria. First, is the distance between your new job and your old home 50 miles greater than your old commute. If so, great! Second, the IRS asks that you live for at least 39 weeks in your new location over the next year. If you meet these basic criteria, you should be good, but for more specific information, contact a plan attorney.