Business Tax Recovery Logo


Tax Deduction Consulting: Military Tax Deduction Butte MT

The reduction in income is claimed on IRS Form 2106 or Form 2106EZ and the appropriate amount in entered on the proper line on your Form 1040. If you do have legitimate expenses that exceed the allowable limits of the Federal Per Diem or Standard Mileage Allowance, they must be claimed as regular itemized deductions on your tax return.

John Shellenberger
P.O Box 4758
Bozeman, MT
Company
Company: Estate Conservation Associates
Education
Franklin & Marshall College A.B.
Stanford University M.A.
Years Experience
Years Experience: 34
Service
Supplemental Medicare Insurance,College Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Medicare Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,Long-term Care Insurance,1031 Exchanges,Wealth Engineering,Stock Market Alternative,Wealth Management,Life Insurance,Inves

Data Provided by:
Campbell and Associates,CPAs
(406) 728-9288
2505 S Russell
Missoula, MT
 
Prigge Richard L CPA
(406) 723-3243
43 E Broadway St
Butte, MT
 
Newland and Company-A Professional Corporation
(406) 494-4754
2900 Lexington Ave
Butte, MT
 
Prigge Robert L CPA
(406) 723-3243
43 E Broadway St
Butte, MT
 
H&R Block
(406) 727-3577
7353 Goddard Dr Bldg 1150
Malmstrom Afb, MT

Data Provided by:
H&R Block Inside Russell Square Shopping Center
(406) 251-6020
1132 SW Higgins Ave Ste 210
Missoula, MT

Data Provided by:
H & R Block
(406) 782-4244
1810 Harrison Ave
Butte, MT
 
Walsh Mary L CPA
(406) 782-1955
2035 Grand Ave
Butte, MT
 
Ricklyons CPA Pllc CPA
(406) 533-0701
3410 Harrison Ave
Butte, MT
 
Data Provided by:

Tax Deduction Consulting: Military Tax Deduction

Military Tax Deduction

There is a special provision for members of the National Guard or Reservists who incur travel expenses that are not reimbursed. This military tax deduction is a reduction of income rather than an itemized deduction.

If you are a member of the National Guard or a Reservist and incur some un-reimbursed travel expenses as a result of your service, you have a way to take this as a reduction of income rather than an itemized deduction on Form 1040, Schedule A. The travel must be overnight and more than 100 miles from your home. The purpose must be a drill or meeting. The expenses must be ordinary and also necessary. If these conditions are met, you can claim this special military tax deduction.

The amount of the military tax deduction, or reduction in income, will be limited to the regular Federal Per Diem payment which covers lodging, meals, and incidental expenses. It also includes the Standard Mileage Allowance, for use of your personal automobile, plus and parking, ferry fees, or tolls.

The reduction in income is claimed on IRS Form 2106 or Form 2106EZ and the appropriate amount in entered on the proper line on your Form 1040. If you do have legitimate expenses that exceed the allowable limits of the Federal Per Diem or Standard Mileage Allowance, they must be claimed as regular itemized deductions on your tax return.

There are certain other military tax deductions that are allowed. Since military uniforms can be generally worn off duty, the upkeep is not deductible. If the uniform, due to military regulations, can not be worn off duty, the upkeep is deductible to the degree it exceeds the military uniform allowance. This applies also to certain kinds of educational expenses. When the educational expense is incurred for an activity that is required or substantially increases your qualifications for your position or a new related position, the expenses that exceed your allowance are deductible.

Normally, the military service is ...

Click here to read the rest of this article from BusinessTaxRecovery.com