Military Taxes

tax forms

With the exception of those serving in combat zones or stationed outside the U.S, most military personnel and their families must file taxes by the April 15 deadline. It is important to know which pay and allowances can be excluded from your gross income. Members of the Military community can claim a host of tax advantages that aren't available to civilians including combast pay, breaks for guard and reserve, free tax assistance and more.

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Personal Finances

As the year-end fiscal cliff deadline approaches, military personnel are increasingly worried about their financial futures.

While the tax package will protect 99 percent of Americans from an income tax increase, most will still pay more federal taxes in 2013.

Military Benefits and the Fiscal Cliff

Benefits expert Tom Philpott explains what's at risk for the military community as Congress edges the nation closer to the "fiscal cliff."

Tax Tips: Determining Adjusted Gross Income

Raiders of the Lost Ark: Staff of Ra

Other articles in this series: Tax Tips for Troops and Families: Overview Determining Adjusted Gross Income Tax Deductions Taxable Income and Credits [For tax preparation options and discounts for  military families and veterans, see theMilitary.com Tax Prep section.] A scene from 1981's Raiders of the Lost Ark describes the proper staff ... more

Tax Tips for Troops and Families: Tax Strategies

Peyton Manning disappointed

Other articles in this series: Tax Tips for Troops and Families: Overview Determining Adjusted Gross Income Tax Deductions Taxable Income and Credits [For tax preparation options and discounts for  military families and veterans, see the Military.com Tax Prep section.] Season endings are always a good time to reflect on what has been acco... more

What To Do With Your Tax Refund: Splurge or Save?

Payday loan temptation.

As you prepare your tax return this year, plan ahead. Will you be getting a refund and how will you use that money? According to a study conducted by Lab 42 for Navy Federal Credit Union, 75% of consumers with a military affiliation are expecting a tax refund this year. The top three ways consumers plan to spend their refund is to pay off debt, ... more

Filing Your Taxes: Overview

Servicemember using computer.

Where To File Send your federal tax return to the Internal Revenue Service Center for the place where you currently reside. For example, if you are stationed in Maine but your permanent home address is in California, you should send your federal return to the service center for Maine. The instructions for Forms 1040, 1040A, and 1040EZ give the ... more

Unique Ways to Save on State Taxes

Taxes

This month's column will look at both current and coming state level tax breaks for members of the armed forces. In addition to federal level tax breaks and credits, many individual states are considering compelling tax savings for military personnel and their families. And before you file your taxes this year, check with your accountant or serv... more

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