As Tax Day approaches, you may find yourself stressing out 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 Military Tax Tips & Tricks series.
Free Filing Options
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.
Deductions and Credits
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 of the series, 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 a 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 some of the short videos from the Department of Defense’s YouTube channel regarding taxes for military families.
Remember that Tax Day is April 15. Make sure your returns are postmarked by that day.
For more tax tips, check out Military OneSource.
Photo courtesy of Fort Mead.