VA loans:Guaranteed by the U.S. Department of Veterans Affairs (VA), VA loans are for eligible members of the U.S. military (active duty, veterans, National Guard and Reservists) as well as surviving spouses. There’s no minimum down payment, mortgage insurance or credit score requirement,...
If you're a service member or a veteran with an honorable discharge, the GI Bill may provide funding to help with college costs. The benefits can add up to thousands of dollars that you do not have to report as income on your individual income tax return
Union dues– A deduction may generally be taken for union dues paid by an eligible worker. However, a deduction isn’t allowed for any portion of union dues used for sick, accident, or death benefits, or for a pension fund. Vehicle expenses– If you use your own car or truck at work...
but some of your pay and benefits can’t be considered “income.” Your basic pay, active duty pay, bonus pay and incentive pay are all taxable income. However, pay for accrued leave, student loan repayments, reenlistment bonuses, and combat pay do ...