Taxes: How Moving Can Save You Money

Moving is bad.  Taxes are worse.  However, sometimes they can combine into something positive.

In certain situations, you can deduct your moving expenses from your taxes.  For example, if moving cost you $5,000, you can subtract that amount from your gross income, making your taxable income $5,000 less.  Depending on your tax bracket, this can save you over $1,200.

Of course, $5,000 is much more than $1,200, but at least you can get a little bump back for an expensive move.  For more information, check with the IRS and read our article that explains how and when you can deduct moving expenses from your taxes.