Is the GI Bill benefit, including the Post 9/11 GI Bill housing stipend, taxable? It’s an important question, especially if you need to claim tax credits for higher education. Many VA benefits are not taxable, but you may need to adjust your federal education expenses at tax time. Learn more.
When tax season arrives, it pays to find as many legal tax breaks as possible, and there are plenty of those for those who served. But not all veteran tax benefits are well known. Some are offered at the federal level, but many are also provided by the states. If you have retired or separated… Read more »
Armed Forces Tax BenefitsArmed forces tax benefits can save you money, but how do you apply? Learn what forms you need to file and where to send them. Read more at MyMilitaryBenefits.
Those who run their own small businesses or operate as independent contractors and gig workers, which includes Uber and Lyft drivers, personal shoppers who deliver groceries, military spouses who find traditional employment challenging, and freelance writers like me, must be aware that there are tax issues and deadlines that are different from regular, W-2 positions.
This past holiday season, a vast number of Service Members, Veterans, and their families received (or will soon receive) one-time stimulus checks of $600 under the trillion-dollar federal funding package and COVID-19 relief bill President Trump signed into law.
Taxes are due on April 15, 2021, though if you’re serving in a combat zone, you have additional time to file. Whether you have one month or several before your deadline, taking these steps can help you make sure you don’t overpay.
ATTENTION: SSI and VA beneficiaries You may be eligible to receive an additional $500 per dependent. If you are a Supplemental Security Income (SSI) or Veteran Affairs (VA) beneficiary with dependent children and you have NOT filed your taxes for 2018 or 2019, then you may need to read this. If those conditions apply to… Read more »
Military Spouse State Income Tax The Veterans Benefits and Transition Act of 2018 allows military spouses to choose the same state of legal residence as their service member. These rules covering the military spouse state income tax apply to local taxes and also apply for voting purposes. All of this even if they have never… Read more »