When It's A Business Move
WHEN IT'S A BUSINESS MOVE
If you are relocating to another city for a new job, get professional advice from a Realtor, and a tax expert.
Start with your Realtor, who will work to market your current home, and can put you in touch with a top real estate professional in your new city. Your Realtor can also provide the names of good long-distance movers, so you can get competitive quotes from reliable firms.
Your tax advisor can tell you exactly what moving expenses you can deduct on your income tax filing and go over the current capital gains implications. Publication 521 from the Internal Revenue Service (available on the Internet) can provide you with the basic information that you need regarding moving expense allowances. This information is usually revised each November for the current tax year, but your advisor will know what changes are expected.
Your tax advisor will also clarify for you the Capital Gains implications associated with the sale of your property, which could have an impact on what you can afford to spend on your new home. With the right information, and assisted by the right people, you will find that a business move can be orderly, simple and even enjoyable!