Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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Check out our tax tips series for advice to get you through tax season.
As tax day approaches, you may find yourself stressing about finishing on time. Whether you are struggling to file correctly or simply forgot, Smart Military Money is here to help.
First, let’s take a look back at our recent Military Tax Tips & Tricks series posted over the last few weeks.
Don’t put off filing your taxes because you think it will be too expensive. Our first tax tips & tricks article outlined some free filing services as well as some general military tax benefits granted in the Military Family Tax Relief Act of 2003.
There are several tax deductions and credits available for servicemembers and their families. Our second article outlined several military-specific deductions and explained the earned income tax credit.
In the final article we addressed issues associated with filing a tax return during deployment or while otherwise overseas. Whether you’re transferring your power of attorney or searching for exact exchange rates, this article can help servicemembers outside of the states file their taxes correctly and on time.
Even though the forms may seem daunting and confusing, filing your taxes is easier than ever with the number of resources available to civilians and military personnel providing tax education and services.
If you’re ever at a complete loss for tax information, look no further than the IRS website and remember there are a lot of different online sources that provide great information about taxes in general as well as taxes for military families.
For instance, check out this short video from the Department of Defense about taxes for military families.
Remember that Tax Day is April 17. Make sure your returns are postmarked by that day.
Photo courtesy of Fort Mead.
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