How the new tax reform affects moving expense deductions
If you’ve recently moved for work (or are planning to), you’re probably hoping to deduct all of those expenses on your income taxes. But with new laws in place, you may not be able to. On Dec. 31, 2017, Congress passed the Tax Cuts and Jobs Act, which prevents the majority of individuals and businesses from claiming moving expenses. However, there are some exceptions. Keep reading to learn more about the new reform, who the exemptions apply to, and what it means for long distance moves.