Transportation and Storage Costs
Contents
Navigating Transportation and Storage Costs: Your Comprehensive Guide
Understanding Transportation and Storage Cost Deductions
Explore the nuances of transportation and storage cost deductions, particularly in light of changes introduced by the Tax Cut and Jobs Act of 2017. Learn about eligibility criteria, allowable deductions, and the process for claiming deductions on relocation expenses, especially for military personnel.
Maximizing Deductions: A Closer Look
Dive deeper into the specifics of deductible expenses, including transportation, lodging, and vehicle mileage. Discover how to optimize deductions by understanding IRS guidelines for reporting actual expenses versus utilizing standard mileage rates.
Avoiding Common Pitfalls
Learn about non-deductible expenses and potential pitfalls to avoid when claiming transportation and storage cost deductions. Gain insights into IRS regulations regarding reasonable expenses, ineligible costs, and the documentation required to support deductions effectively.
Special Considerations for Foreign Moves
Uncover special rules and considerations for active-duty service members relocating between foreign countries or from foreign locations to the U.S. or its territories. Navigate the complexities of additional deductible expenses and exclusions specific to foreign moves.