Technical topics regarding tax preparation.
3-Dec-2021 12:25pm
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I know that moving expenses on the 1040 are not allowed right now, but what about moving expenses for a business? My client will be moving from Hawaii back to Cali. They've sold their home with all the furnishings, so what will be moved will be all of his tools and his truck for his painting business. They'll stuff it all into a Matson container which is charging a flat rate of $6,000 (my container was over $13,000 for the same size). Can we write that off on the Schedule C?
3-Dec-2021 12:26pm
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100% yes for moving biz stuff. Well, the move still has to be job-related....
3-Dec-2021 12:55pm
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They will be moving everything to Cali and he'll be renewing his painting contractors license.
9-Dec-2021 1:03pm
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- 11-Jul-2014 1:19pm
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California state still allows moving expense deduction.
10-Dec-2021 5:52pm
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Section 217 says the definition of moving expenses is household goods and personal effects, and travel. So I wouldn't think business tools and stuff fit that definition. Moving himself there would be moving expenses but I'd think moving the business would be okay.
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