Unreimbursed Employee Business Expenses

If you are an employee with significant non-reimbursed business expenses, you should talk to your tax adviser about the effect of the tax law changes from back in 2018. Non-reimbursed employee business expenses, formerly at least partially deductible on Schedule A , are no longer deductible. You may be advised to talk with your employer about establishing an accountable reimbursement plan and possibly restructuring your compensation package tax purposes. The changes do not affect schedule C filers (self-employed individuals), only employees. Ministers should have an accountable reimbursement plan established with their church employer to avoid paying unnecessary income tax.

~ Nelson

Missouri Property Tax Credit

"The Missouri Property Tax Credit Claim gives credit to certain senior citizens and 100 percent disabled individuals for a portion of the real estate taxes or rent they have paid for the year. The credit is for a maximum of $750 for renters and $1,100 for owners who owned and occupied their home. The actual credit is based on the amount of real estate taxes or rent paid and total household income (taxable and nontaxable).If you rent from a facility that does not pay property taxes, you are not eligible for a Property Tax Credit."

Click here for the Property Tax Credit Qualification Chart.

Link to video clip: https://youtu.be/j2rU79v7YWY

(From Missouri Department of Revenue website: http://dor.mo.gov/personal/ptc/ )

Social Security Administration Benefit Letter Change

People needing proof of their Social Security or Supplemental Security Income benefits can get verification letters online instantly through a my Social Security account at www.socialsecurity.gov/myaccount. You can also get one mailed to you by calling toll-free, 1-800-772-1213. Additional information on changes in services provided by the Social Security Administration can be found here. NOTE: SSA-1099 forms will still be mailed by the Social Security Administration.

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