Tax season is right around the corner, and as you probably know, filing is a bit different for military households compared to civilians. However, this doesn’t mean the process is more difficult. Knowing what you need to claim is important, and it could save you money and headaches later on. Remember, these are just some of the main tax options available to military personnel, and there are plenty more available.
You probably spend a good deal of funds while still attached to the armed forces. Luckily, many of these expenses are deductible on your taxes. Consider deducting the following:
The military has specific combat zones, and if you are serving in one of them, you may not need to pay taxes on some income during that time. This includes both healthy and injured service members.
Taxes can be difficult to figure out, but a nice return can be quite assuring if you are dealing with some financial issues. It may be a good idea to work with a certified public accountant if you are uncomfortable dealing with taxes on your own. Additionally, if your tax return doesn’t completely help you get out of a jam, it may be a good idea to ask for help. Contacting Omni Financial may give you the aid you need during a tough time, while pursuing financial freedom. Omni can help you figure out your financial situation and make you feel better about money.
For more information on Tax Season please check out our 5 Smart ways to spend your Tax Refund Article