Tips on Saving Money as you relocate your familyPosted by on Saturday, December 31st, 2011 at 12:11am.
Several Estimates Save a Bundle
Although many people don't bother to get several estimates before signing up with a moving company, moving company prices vary considerably and you can save a bundle. Consumer Reports recommends getting at least three estimates before selecting a mover.
Did you know that some of the expenses of moving are tax deductible? If you'd like to get any of the following expenses claimed against your tax, read on and see if you qualify.
- Cost of transportation or hauling from old to new residence.
- Cost of packing, crating and unpacking.
- Cost of shipping your car.
- Cost of moving the pets.
- Cost of the trip to the new residence which includes lodging but not meals
Take into account that these deductions must not be excessive amounts, but the real question is, do you qualify for the deductions? All taxpayers are eligible, even if they don't file itemized returns, as long as you are:
- Moving to a new residence for the purpose of employment, whether it be as an employee or self-employed.
- Moving to a new job, at least 50 miles farther from your new residence than your old job location.
- A full-time employee and employed within the vicinity for at least 39 weeks of the first 12 months of occupancy.
- A self-employed individual, who will work in the new location for at least 78 weeks during the first 24 months following the move, of which 39 weeks must be within the first 12 months.
- Moving to a foreign country, or for military service (These options fall under special limitations, so it's best to consult a professional tax advisor before claiming them).
Preparation And An Inventory Averts Trouble
- Take down ceiling fans prior to moving day. Movers will charge you for the cost of an electrician to do it.
- Purchase enough insurance to over damage to especially valuable items, or transport them yourself separately. Movers may not pay for damage to items you pack yourself.
- Hire a piano specialist to prepare your piano for the move. Service to a piano will add a hefty additional charge to your bill if the mover does it, and there's a greater chance of damage.
- If you have many books, pack them yourself and mail them book rate to save significantly on the cost of your move.
- Grandfather clocks should be dissembled by a clock specialist prior to moving day.
- Ask the mover to inventory your items and check the inventory carefully to be sure everything is included.
- Check polished table tops and antiques for any existing damage (nicks and scratches) and note its exact location.
- Note down the location of all existing damage (worn areas, pulls) to fabric on furnishings.
- Disconnect the water to the washing machine and refrigerator and gas to the dryer and range prior to moving day to avoid a surcharge.
- Confirm on the inventory that all goods with moveable parts are fully operational prior to the move.
Eliminate Rather than Relocate
While you're organizing or packing for your move sift and sort. Use a heavy hand toward the trash can, and let common sense be your guide.
Have a Garage Sale
If you are like most people, you have in your possession many items you really have no use for anymore. Sponsor a garage sale before your move to give yourself a little junk relief! You just might raise enough money to pay for your moving expenses! Remember, one man's junk is another man's treasure! If you don't need it, unload it. Rule of thumb: if you haven't used it in the last 12 months get rid of it.
Ignore the "I Might Need It Someday" Syndrome
Don't move the riding mower to an apartment. Part with tools you won't have a place to use. And remember, junk is junk. You don't need a furnished attic.
Donate to Your Favorite Charity
Itemize the items and keep a receipt. It may help you qualify for a tax deduction.
Looking for a relocation specialist? The All About Real Estate Team is Portland's premiere relocation specialist and ready to help. For a free relocation packet contact us at firstname.lastname@example.org.
Be the first to comment on this blog entry!