Beginner Gardening: Can I transplant a Wedding Veil bush?, 1 by DigitalMango

DigitalMango wrote:
I am re-landscaping an area of my back yard that has a large Wedding Veil bush (I think that's what this is, anyway - that's what I was told). It's roughly 6' tall, and actually there are two of them. Can these be dug up and moved? If so, how big of a hole would I need to dig to get enough of the roots? I read that you have to prune them carefully, but if I can live with a year of no flowers, can I cut this bush back substantially? I am in the NorthEast United States, can I do this now (mid August) or is there another time of year I would have to wait?
I am definitely a beginner landscaper, so please assume I don't know anything when you consider responses... Thanks!