Last updated 5 days ago
When getting ready to move to a new home, there are a number of different elements to consider. One of the most important elements is the moving company that you choose. These movers will be responsible for transporting all of your items to your new home, which is why it is so important to choose a company you can trust.
In this video, you will get tips that will help you find the right moving company. You can ask for referrals from friends and family members to get some options. Speak with each potential company to determine how comfortable you are working with them.
You can get more moving tips by contacting the team here at Hollander International. Give us call today at (888) 749-9029!
Last updated 13 days ago
Moving should be a fun and exciting process. This is the time to say goodbye to your old home and say hello to a brand new one in a brand new location! Once you are settled in, you will be able to find new hotspots and hangouts to enjoy in your new hometown. But before you can do the enjoyable stuff, you will need to get all of your belongings ready to be placed in a moving van. Here are some items you should leave out when packing up your moving van:
1. Personal documents. The moving company that you choose should be professional and trustworthy so that you can feel confident leaving your belongings with them. But accidents can happen, which is why it is important to keep irreplaceable items with you instead of putting them in the moving van. Personal documents, including titles and tax information, should be kept with you during your move.
2. Jewelry. It is easy to keep your jewelry safe while wearing it or keeping it secure in a jewelry box. But when jewelry is mixed in with other items in a moving van, it can be easy for the jewels to get scratched, cracked, and damaged. You should keep your jewelry with you to avoid any damage.
3. Cash. This is another item that can be damaged or misplaced during transport. That is why it is important to keep your cash with you instead of with your packed boxes. Keeping your cash on you will also allow you to buy food and other necessities when you get to your new home!
4. Photographs. Photo albums and other pictures should be kept with you. These sentimental items cannot be replaced if they are damaged, so it is better to keep them safe with you.
5. Chemicals. Different household cleaners and other items containing chemicals can be hazardous during a move. We would suggest using up any chemicals prior to a move. If you still decide on bringing these items with you, you should find the safest way to transport them and avoid boxing them up with your other household items.
The team here at Hollander International can help you make your move simple and fast. Learn more by giving us a call at (888) 749-9029.
Last updated 20 days ago
You may, under certain circumstances, deduct some moving expenses on your federal income tax return if you complete the appropriate forms. Though Mayflower cannot give you tax advice, we have prepared a summary of some of the issues you should consider about the tax implications of your move. Because laws change frequently, you should always consult the Internal Revenue Service or your personal tax advisor for the most current information about your particular situation.
You can depend on your Mayflower agent for knowledge and expertise in helping you prepare for your move. The agent will be happy to assist you by answering questions and working closely with you to make your relocation as effortless as possible. However your tax situation is unique and your Mayflower agent cannot offer you specific tax advice.
Do You Qualify?
If you are moving in order to start a new job or have been transferred to a new
location in your current job, the IRS allows you to deduct reasonable moving
expenses as an adjustment to gross income if certain conditions, including the following, are met:
The change in job location would require you to commute at least 50 miles (one way) farther to work had you not moved. That 50 miles must be based on the shortest of the most commonly traveled routes.
The move occurs within one year of the date you begin work at the new location.
You work full time (for any employer) in the general vicinity of the new location
for at least 39 weeks during the 12-month period following the move. If you are transferred, laid off or become disabled before the end of the 39-week period, you still may claim moving expenses. If you are self-employed, you must work full time for a total of at least 78 weeks during the 24 months immediately after you move.
NOTES: Special rules may apply to members of the armed forces, retirees and
survivors of deceased family members who lived outside the United States. Consult the IRS for details. Guidance as to what constitutes full time work and what is considered your home for the mileage calculation is also available from the IRS.
Deductible Expenses
If you meet the qualifications, the following types of expenses may be deductible if you moved with the United States or from a foreign country into U.S. territory.
Packing and Transporting
You can deduct the reasonable expenses of packing, crating and transporting
your family’s personal effects from your former home to your new one. Moving expenses can also include the transportation of your automobile and pets and the cost of valuation and in-transit storage. For moves within the United States, the deduction of in-transit storage expenses is limited to the cost of 30 consecutive days of storage after your goods are picked up. Guidance about whether particular expenses are reasonable is available from the IRS.
Travel
You can deduct the cost of your personal, one-way transportation and lodging. The trip should be the shortest, most direct route available for the type of
transportation selected. It is not necessary that all family members travel at the same time. However, the expenses for only one trip per person may be deducted. Additional information about particular expenses may be obtained from the IRS.
GENERAL NOTE: If you are self-employed, you may deduct the aforementioned
expenses if you have already made specific arrangements to operate your
business at a new location. There is no cap on the maximum deduction allowed for transporting household goods or for a family’s travel costs to the new home.
Non-Deductible Expenses
Some moving-related expenses are not deductible and are identified as such
by the IRS. Non-deductible moving expenses include the following:
- Meals while moving from the old home to the new one
- Pre-move house hunting trips
- Temporary housing prior to moving into permanent housing
- Costs of selling, buying or leasing homes as a result of a move
- Deposits lost due to damage or neglected cleaning
- Deposits required when entering a new lease
- Home improvements
- Licenses for drivers and automobiles
- Lost club membership dues
- Loss on the sale of your home
- Mortgage penalties
- Real-estate taxes (Instead of a moving expense, these taxes would be listed as an itemized deduction on Schedule A.)
- Refitted carpets and draperies
How Are Moving Expenses Reported?
Moving expenses are deductible only as an adjustment to gross income.
Generally, to support your claim for deductions, you should use Internal Revenue Service Form 3903 — “Moving Expenses” — which shows the type and amount
of moving expenses incurred. However, there are circumstances where other forms should be used, so remember to consult the IRS or your tax advisor to make sure that you are using the correct forms.
Reimbursement
If you receive reimbursement for move-related expenses, that reimbursement
is likely to have tax implications. Be sure to discuss those implications with
your employer and your tax advisor. Specific guidance about reimbursements is available from the IRS. Your employer should provide you with information about the method of reimbursement used and what records you are required to have relating to reimbursement.
General Information
Ask for and keep dated receipts of all of your moving expenses and
documentation in preparing your income tax form.
Keep all papers pertaining to your move that you received from the moving
company, such as the Bill of Landing and Additional Serviced Performed form, if any. You will need them when you claim your tax deductions.
You might want to consult an accountant about how moving expenses could affect your income taxes. If a company reimbursed your non-deductible moving expenses, this could increase your tax liability. You might want to consider altering your W-4 form now to have extra money withheld.
To help you file tax information on the sale of a home, request Publication 523 and Schedule D from the IRS. For more information on filing moving expenses request Publication 521 and Form 3903 from the IRS.
To order federal tax forms and publications, call the nearest IRS office or 800-829-3676. Some of these forms and publications may also be available on the IRS Web site: www.irs.gov. You may also direct your questions to the local IRS office or the national office at 800-829-1040.
NOTE: IRS Publication 553, “Highlights of Tax Changes,” is available in January of each year. We recommend that you obtain a copy of this publication to determine if changes have been made in allowable moving expense deductions.
If you are a member of the armed forces or a civilian moving outside the United States, contact your tax adviser for specific information on qualifying for and claiming moving expenses.
Moving Documents Checklist
You should keep records pertaining to your move in one place, and keep them for at least three years.
Those records should include:
Mover’s Documents
• Bill of Landing
• Inventory
• Additional Services Performed form
Travel Expense Receipts
• Personal transportation costs (air, bus or train fares, and/or automobile expenses)
• Lodging
IRS Tax Forms and Information
• W-2 Wage and Tax Statement (from employer)
• 4782 Employee Moving Expense Information (from employer)
• 1040 U.S. Individual Income Tax Return
• Schedule A – Itemized Deductions
• Schedule D – Capital Gains and Losses
• Form 3903 – Moving Expenses
• Publication 521 – Moving Expenses
• Publication 523 – Tax Information on Selling Your Home
• Publication 530 – Tax Information for Homeowners
• Publication 553 – Highlights of Tax Changes
To order federal tax forms
and publications, call
800-829-3676.
You may also direct your
questions to the local IRS
office or the national office at
800-829-1040.
www.irs.gov
