Personal Finances

Beware! It’s the Season for Tax Scams

woman doing taxes

Tax season can be taxing enough without additional pressure from fraudsters, but unfortunately, these scams often peak during tax-filing season. The IRS recommends you keep an eye out for: Additional disability compensation scams. An email targeting military members that appears to come from Defense Finance and Accounting Services and displays a “.mil” email address. The email may state that if you receive disability compensation from Veteran... more

A Military Money Must-Do

Cash inside of a glass jar.

Sometimes it's difficult to set ourselves up for success -- even when we know what's in our long-term best interest. Take, for example, that chicken-fried steak I recently ordered at my favorite restaurant in Gruene, Texas. I knew full well it wasn't on the diet I'd just started, but it seemed too good to pass up. Looking back, the decision to ... 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

Tax Deductions Are Everywhere -- Do You Know Where to Look?

Saving

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.  Knowing where to look for both new and existing tax benefits may help you obtain a bigger refund or help minimize your tax debt, keeping more money in your pockets.  Here... more

Military Taxes: Family/Spouse Issues

Kiss

Military families must contend with moving and child care issues -- and both of these issues can be very expensive. However,  Permanent Change of Station (PCS) and the Child Tax Credits can help ease the financial strain of frequent moves and raising children. Moving Expenses For more information on moving expenses and their tax implications, ... more

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