Military Finance Network

Personal finance for military, veterans, and their families

Entries for the ‘Taxes’ Category

Free Tax Deadline Extensions for Military Members

Did Tax Day come a little quickly for you this year? If so, you can file for a free extension on your taxes. Anyone can file for a tax extension, but it’s important to note that if you will owe taxes to the government, your taxes are due on April 15th, even if you filed [...]

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2009 Economic Stimulus – What it Means to You

The 2009 economic stimulus was passed last month, and it looks like you will be seeing more money in your paycheck soon. Starting April 1, 2009, you should start receiving the Making Work Pay tax credit, which gives eligible tax payers an additional $400 – $800 per year. Single tax filers will receive $400, and [...]

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Free Tax Webinar from USAA: Tips to Save This Tax Season and Beyond

USAA is holding a free tax webinar for members next Thursday, February, 19th. This is a free tax tutorial and information session, but you must register to participate.
Free USAA tax webinar information
The program, Tips to Save This Tax Season and Beyond, will be organized and run by J.J.Montanaro, a Certified Financial Planner practitioner, and [...]

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What to Do About a Lost or Stolen Stimulus Check

Have you received your economic stimulus check from 2008? If you were eligible to receive a stimulus check, you should have received it by now. If you haven’t received it, you should look into it – it may have been lost or stolen, or the IRS may have missed you.
Here is a recent question I [...]

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Don’t Get a Refund Anticipation Loan

Tax season is open now, which means that pretty soon we will file our taxes and hopefully have a nice refund check heading our way. One thing everyone needs to look out for is refund anticipation loans, which are loans given against your federal tax refund.
How refund anticipation loans work
When you file your taxes with [...]

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Win a Copy of TaxCut from H&R Block

I am giving away two copies of TaxCut Premium Federal edition on my personal finance and career website, Cash Money Life.
There are two ways to enter the TaxCut Giveaway:

Leave a comment on the article about how you would change the tax code
Mention the giveaway from your own website if you have one.

The giveaway ends January [...]

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Free Tax Preparation for Military Members

If you are in the military, you should be eligible for free tax preparation. This is a wonderful benefit, because taxes are complicated enough as is. But when you add certain military pay and benefits rules and money earned from bonuses and tax free zones, your tax return can become very complicated. Thankfully, there are [...]

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5 Ways To Save on Taxes — Before Dec. 31

This article is Courtesy of USAA (read my USAA Review).
It may seem too early to think about taxes, but you can possibly save hundreds of dollars or more by getting your deductible ducks in a row before the year ends. As with most deductions, income restrictions may apply so check with the Internal Revenue Service [...]

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Not all Veteran’s Have Received Their Economic Stimulus Checks Yet

I was doing some reading online last night and I read something that alarmed me: There are over 5 million unclaimed economic stimulus checks currently held by the IRS. A large percentage of those are held by military veterans whose primary source of income is VA benefits or Social Security checks.
But there is a problem… [...]

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How Does the Economic Stimulus Rebate Affect Military Members?

With tax season coming to an end last week, the next big thing is the economic stimulus rebate which the government approved earlier this year. With that in mind, here is some information about the economic stimulus package, and how it will affect military members.Keep in mind, this information is gathered primarily from the IRS [...]

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Military Member Tax Information and Deadline Extensions

Today is tax day, and millions of last minute tax filers (myself included!) will be streaming by the post office today to send their taxes to the IRS. But what happens if you missed the deadline? The good news is that you can file an extension. That bad news is that if you owe the [...]

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Tax Rules Affecting the Military, Part 3 Military Combat Zones

Many members of the U.S. Armed Forces who serve(d) in a combat zones are able to exclude portions of their pay from their taxable income. You will also be eligible for additional time to make a qualified contribution to an IRA, and be able to file an extension to complete your taxes without paying [...]

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Tax Rules Affecting the Military, Part 2 Taxable Income

Tax season is drawing to an end, and you’ve only got about 2 weeks to complete your taxes before the end of the year. Fortunately, there are several places that provide free tax preparation for military members. If you are looking to do your own taxes, it helps to know which pay and benefits are [...]

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Tax Rules Affecting the Military, Part 1 Non-Taxable Income

Tax season is drawing to an end, and you’ve only got about 2 weeks to complete your taxes before the end of the year. Fortunately, there are several places that provide free tax preparation for military members. If you are looking to do your own taxes, it helps to understand how the military pay system [...]

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Free Tax Preparation for Military Members

There is great news for the military community. There are several options for military personnel to file their 2007 taxes for free. Most major military installations have a Volunteer Income Tax Assistance (VITA) office. Marines, Airmen, Soldiers, Sailors, Reserve members, Guardsmen, and their families worldwide are eligible to receive free tax preparation assistance at [...]

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