- Expenses incurred when an individual moves for employment purposes. Moving expenses are deductible if they are the reasonable costs of moving yourself, your family, and your possessions. The cost of meals while moving is no longer deductible.
moving costs, relocation expenses, cost of relocating
Related Terms and Acronyms
- Corporate Relocation — Definition,
- When a company relocates to a new office.
- An employer that transfers an employee and pays moving expenses.
- Expense — Definition,
- Costs incurred through a business's operations.
- Fringe Benefit — Definition,
- Employee compensation other than your wages, tips and salaries, such as health insurance, life insurance and pension plans. Usually referred to as a Bonus.
- Relocation Benefits — Definition,
- Money and other consideration that an employer gives to employees who move or are transferred at the company's behest. Can include reimbursement for packing and moving, house-hunting trips, and temporary housing and storage.
- Relocation Company — Definition,
- A business that specializes in providing help to employees who move for their employer.