4 Tax Breaks You Won't Want to Miss
When tax time rolls around, you've got to grab every break you can. Missing out on tax breaks means that you're overpaying the IRS, which is not something that even the IRS itself recommends. Unfortunately, some quite large tax breaks are practically unknown to many taxpayers. Here's a sampling of some of the deductions and credits you might be eligible to claim without even realizing it.
Yep, the IRS will actually pay you to move -- but only if you do so for job-related reasons. If you started a new job, shifted to a new business location for your current job, or started a new business, you may be able to claim a deduction for your moving expenses related to the change. There are three basic requirements for claiming this deduction: you have to move within one year of the job change, your new workplace has to be at least 50 miles further from your old home then the old workplace was, and you must work full time in or near the new location for at least 39 weeks during the next 12 months.
Assuming you meet these requirements, you can claim your moving expense deduction by filling out IRS Form 3903 and listing the results on line 26 of your Form 1040.
Source: Fool.com
