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question on new tax law for accountants

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question on new tax law for accountants

Old 12-08-2018, 02:17 PM
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Default question on new tax law for accountants

are work related moving expenses tax deductible? oldest son recently had to get temporary housing for training in oklahoma city for 4 months now in process of moving to texas where he will reside for near future. stuff went into storage in south carolina and now will be shipped to texas. thanks
Old 12-08-2018, 04:09 PM
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did the employer pay for any of this relocating and training for the new job?

I have no idea what all was taken off of the table when the new $14K standard deduction was placed into effect .
hope to learn something from this thread
Old 12-08-2018, 04:26 PM
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Just going off memory but I think they are gone except for expenses incurred in2017 and reimbursed in 2018

I also believe they are no longer a tax free employee benefit as well.
Old 12-08-2018, 04:35 PM
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I heard most older accountants saw the new law was as clear as mud and just decided to retire! Good luck!
Old 12-08-2018, 04:37 PM
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all incurred this year. got job with FAA. i know my accountant told me last feb that most job related expenses are gone with the new law but was wondering if this was one that was still allowed. no big deal told him to save all receipts and see what happens during tax time. will be interesting tax time for a lot of us
Old 12-08-2018, 06:20 PM
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Originally Posted by Trollin4Tuna View Post
Just going off memory but I think they are gone except for expenses incurred in2017 and reimbursed in 2018

I also believe they are no longer a tax free employee benefit as well.

Thinking same thing, we touched on it briefly at our conference few weeks back. Not really one of those things you deal with rountinely but it does come up from time to time

Pretty sure TT is correct on what he said
Old 12-08-2018, 06:44 PM
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From my understanding and that is vague at best is all work expenses are gone, per diem, miles, food this really sucks for transportation workers now.
Old 12-08-2018, 07:17 PM
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Unreimbursed employee business expenses are/were miscellaneous itemized deductions, which are no longer allowed under the new tax law. Moving expenses are also no longer deductible.

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