Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Moving Expense
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Copyright © 2010 | Field of Study: Taxes Level: Basic Recommended CPE Credit 2 hours Prerequisites: None Advanced Preparation: None Type of Delivery: Self-Study Expiration: Course expires 1 year after purchase Course Update: January 2010 Accreditation: QAS, NASBA, IRS, CTEC, OTPB Guarantee/Complaint Resolution |
Course Outline
Lesson 1 - RULES FOR EXPENSES INCURRED
Learning Objectives 1
Related to start of work
Closely related in time
Closely related in place
Distance test
First job or return to full-time work
Exception for Armed Forces
Main job location
Union members
More than one job
Time test for employees
Time test for self-employed persons
Change in status
Joint return
Time test not yet met
Exceptions to the time test
Lesson 2 - MEMBERS OF THE ARMED FORCES
Learning Objectives 2
Members of the Armed Forces
Spouse and dependents
Services or reimbursements provided by the government
Lesson 3 - RETIREES OR SURVIVORS WHO MOVE TO THE U.S.
Learning Objectives 3
Retirees or survivors who move to the U.S.
Permanently retired
Survivors
Lesson 4 - DEDUCTIBLE MOVING EXPENSES
Learning Objectives 4
What is deductible
Reasonable expenses
Travel by car
Location of move
Moves within or to the United States
Household goods and personal effects
Travel expenses
Moves outside the United States
Storage expenses
Move in an earlier year
Moving expenses allocable to excluded foreign income
Nondeductible expenses
Lesson 5 - TAX WITHHOLDING AND ESTIMATED TAX
Learning Objectives 5
Tax withholding and estimated tax
Reimbursements excluded from income
Reimbursements included in income
Estimated tax
Lesson 6 - REIMBURSEMENTS
Learning Objectives 6
Reimbursements
Accountable plans
Employee meets accountable plan rules
Employee does not meet accountable plan rules
Reimbursement of nondeductible expenses
Returning excess reimbursements
Nonaccountable plans
Part of reimbursement paid under accountable plan
When to include reimbursements
Lesson 7 - WHEN TO DEDUCT EXPENSES
Learning Objectives 7
Not reimbursed
Reimbursed expenses. Reimbursement included in income
Choosing when to deduct
How to make the choice
Moving within the United States. Comprehensive example
Course Objectives
Lesson - 1After completing lesson 1, you will be able to:
- Identify the three general requirements for deducting moving expenses
- Identify when the requirement is met for the closely related to place test
Pay particular attention to paragraphs marked by the Wiseguy.
He'll guide you to key issues.
After completing lesson 2, you will be able to:
- Determine members of the Armed Forces who qualify to deduct unreimbursed moving expenses due to a move because of a permanent change of station
After completing lesson 3, you will be able to:
- Determine if a taxpayer is considered permanently retired for purposes of meeting the time test
After completing lesson 4, you will be able to:
- Figure the total moving expenses that can be deducted from total income to arrive at adjusted gross income
After completing lesson 5, you will be able to:
- Determine which taxes and allowances to withhold from employees income
After completing Lesson 6, you will be able to:
- Determine if a reimbursement for moving expenses is taxable
- Determine if a repayment is treated as an accountable or nonaccountable plan
After completing Lesson 7, you will be able to:
- Determine when to deduct moving expenses