Those who serve in the U.S. armed forces are honored with a number of benefits, ranging from education assistance to retirement. Among the perks are a number of steps to make filing federal income tax returns easier, as well.
National Guard and Reserve retirementsdiffer significantly from active duty military retirements, primarily in how and when benefits are received. For National Guard and Reserve members,retirement pay is based on a points system, where each drill, active duty day, and certain other service activities...
National Guard and Reserve retirementsdiffer significantly from active duty military retirements, primarily in how and when benefits are received. For National Guard and Reserve members,retirement pay is based on a points system, where each drill, active duty day, and certain other service activities...
Men and women retiring from a career in the military usually have been posted all over the country if not all over the world during their time in the armed forces. When looking for a place to settle in retirement, state laws on military retirement taxes can be a deciding factor. Georgia'...
Find out which states don't tax military retirement pay. Learn about the tax benefits and other important considerations when choosing a state for your retirement.
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Officers serving in combat zones receive special pay privileges. Those ranking 0-1 and above caneliminate portions of their pay from taxesdue to the dangerous nature of their role. You can calculate your full paycheck by adding your “hostile fire orimminent danger” pay to your basic pay rate...
Some states do not tax military retirement pay. Image Credit:FabrikaCr/iStock/GettyImages When it comes to taxes, it's generally safe to assume that if you earned income, it is taxable. However, in some circumstances, this actually is not the case. When it comes to military retirement pay...
What states do and don’t consider taxable income can be confusing. For example, the 34 states mentioned don’t apply taxes on military retirement funds. However, they may have taxes on earned income, meaning any monetary increase you receive from an employer. ...
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