Moving Expenses Law and Legal Definition
Moving expenses refers to relocation subsidies or funding which are an important incentive for employers who want newly hired or current employees to move to another area. Most employers offer to pay for part or all of the costs incurred by an employee transferred from different locations within the company; some employers also underwrite those costs for new hires.
For "qualified" moves, tax deductions are available for both the employer and employee. A move must meet time and distance tests to qualify. Generally, the IRS defines moving expenses as deductible only if they are closely related both in time and place to when you started work at the new location.
Legal Definition list
Related Legal Terms
- Administration Expenses [Probate]
- Allowable Medical Expenses
- Architectural and Transportation Barrier Removal Expenses [Internal Revenue]
- Capital Expenses [Education]
- Child Care Expenses
- Eligible Expenses (Health Care)
- Expenses
- Expenses [Education]
- Export Promotion Expenses
- Fees and Other Expenses [Education]
