Thursday, April 21, 2016

Don't be fooled by pricing!


When you decide to move, getting a handle on what everything costs is a must. Many factors can affect the final cost of your move, so it is your responsibility to understand the true expense.

Many consumers start online with a moving calculator, or get free moving quotes. This is a great place to start, but you should contact at least two moving companies, preferably three, to set a time for each moving representative to visit your home.  During this in-home estimate, walk them through all the spaces in your place - including walk-in closets, garage, attic, and basement. This in-home estimate will give you a more accurate estimate than a calculation over the phone. It is not a good idea to choose a company that does not seem willing to come and take a look at your belongings. When you are given an estimate, be sure you understand what is, and what is not, included in that number.

Is the estimate binding, nonbinding or guaranteed not to exceed?


A binding estimate is a written agreement that clearly describes all services provided. It guarantees the total cost of the move. 

A nonbinding estimate is truly an estimate based on what the movers believe the cost will be. Final charges are based on the actual weight or volume of the shipment, all services provided and any tariff provisions in effect. 

A guaranteed-not-to-exceed estimate allows the consumer to pay the binding estimate or the actual cost, whichever is lower.

Be sure you understand the insurance terms for the move. What exactly does the insurance cover?  Does it cover the full replacement value of an item?  If not, you can typically purchase additional insurance to cover the full value of your items in case they are lost or damaged.

Ask about the company’s history. How long have they been in business? What are they especially adept at? How many trailers do they have and are they clean and relatively new? Do they run a tight ship and have uniformed workers? Are there reviews from satisfied, happy customers?

Finally, talk to friends and neighbors who have moved before. What did they learn and wish they had known before their move?

With all of this said, we, at Superior Relocation Services, want to be your movers.  We are experts in the moving business and will be happy to help plan your next move. Moving is our passion.  That’s what we do.  Feel free to contact us today.

Thursday, April 7, 2016

If You Move, You May Be Able To Deduct Your Moving Expenses


Among the many tax topics, many people do not realize that if they are moving to start a new job or transferring with a current employer, their moving expenses may be deductible on their federal income taxes. 

Moving expenses are considered an “above-the-line” deduction meaning that they reduce your adjusted gross income on which taxes are based and can even be claimed if you do not itemize deductions.

To qualify for the deduction, you must meet the following criteria:
A. Your move relates to the “Start of work.”
B. Your move meets the “Distance Test.”
C. Your move meets the “Time Test.”

Now let’s clarify these “ABCs…”
A. Your move must “connect” in both place and time to the start of work at your new location. If you do not move within 1 year of the date you begin work, you ordinarily cannot deduct the expenses unless you can show that circumstances existed that prevented the move within that time.

B. Distance Test – Your new workplace must be at least 50 miles farther from your old home than your old job location was from your old home. For example: If your drive to work was 15 miles at the previous location, your new job location must be 65 miles or more from your old house.
When calculating distance, which route do you consider?  The route to consider is the shortest of the more commonly traveled routes between your old home and the new job location.

If there was no previous work place, your new job must be at least 50 miles from your old home.

C. Time Test – At the new work place, you, as the new employee, must work fulltime for at least 39 weeks during the first twelve months immediately upon your move and for a total of at least 78 weeks during the first twenty-four months immediately following your arrival in the general area of a new work location.

There are exceptions to the time test (including death, disability, involuntary separation, etc.)  These can be found in IRS Publication 521.

Please note that Members of the Armed Forces who move because of military orders and permanent change of station, do NOT need to meet the distance and time tests.

Remember that moving costs must be “reasonable and necessary.” Do your research online via the IRS website and other tax information sources.   It may help lower your tax bill!

All of this being said, whenever you move, please give us a call at Superior Relocation Services.  You have questions and plans, we have answers and moving expertise.  We’re here for you and ready to professionally streamline your next move.