There's good news for military families who plan to have children or currently raising them. There are a number of tax benefits available to those who claim a dependent child on their income tax re... more
Let"s face it: Doing your taxes is about as exciting as mowing your lawn. But, we all have to do it. And Uncle Sam doesn't make it easy. The U.S. tax code literally fills thousands of pages. Thankfully, you don't need to read them all to stay on top of your taxes. Here are five things that can make doing your taxes "less taxing" as Tax Day, April 15, approaches.
For more financial information or tax tips, visit military.com's Taxes channel.
Once the VA has granted your disability, an entitlement letter will be provided that outlines the percentage of disability and monthly compensation amount granted.
With tax season in full swing, you should take note of the many deductions and credits available to you because of your military service; whether on active duty or on reserve.
Although going back to school can be a pricey venture, military servicemen and women should keep in mind that their military status makes them eligible for certain education benefits.
Let's face it -- the American tax system isn't known for its simplicity. And the confusion factor just climbs higher when you lived or worked in more than one state during the year.
Servicemembers who recently enrolled in continuing education programs or signed up for skills building classes, have several government reimbursement programs and income tax benefits that can help ... more
To deduct moving expenses, you generally must meet certain time and distance tests. However, if you are on active duty and you move because of a PCS, you do not have to meet these tests.