Shelton reminds veterans to file for tax reliefMichelle Tuccitto
Generally, any form of military pay earned while on deployment in a combat zone is excluded from federal income tax. This translates to a significant tax savings for the active service member in combat and his family back home.
If a service member dies in a terrorist or other military action, they would likewise be eligible for forgiveness of his federal tax debt. Obtaining this relief requires a personal representative to make a timely claim for tax forgiveness. Enlisted active duty and reserve military can enjoy Tur...
The Child Tax Credit is one step closer to getting an overhaul, with the House on Wednesday approving a bill that would expand the valuable credit for parents as well as extend some business tax credits. The bill, called the Tax Relief for American Families and Workers Act of 2024, was ...
Veterans Day is tomorrow, Nov. 11. This solemn day is one of the few federal holidays that isn't shifted to Monday. It is always commemorated on Nov. 11 because the 11th hour of the 11th day of the 11th month in 1918 was the specific moment marking the armistice between World War I...
Does the veterans administration work the same as Medicaid, regarding the 5 year time period? Reply Jeff Rose April 1, 2017 Not sure about that Patrick. Are you referring to the VA having a 5 year lookback period if you’re receiving benefits? You might want to google that question. ...
Veterans Day is tomorrow, Nov. 11. This solemn day is one of the few federal holidays that isn't shifted to Monday. It is always commemorated on Nov. 11 because the 11th hour of the 11th day of the 11th month in 1918 was the specific moment marking the armistice between World War I...
access it. In some cases, you must apply for these tax exemptions, and meeting application deadlines is key. Many older adults remain unaware of such tax break opportunities. In fact, low-income senior homeowners are among those who, historically, have encountered challenges accessing tax relief....
Our panel of state and local tax veterans will identify which states comply with federal provisions, including bonus depreciation and Section 179 expensing guidelines, outline which states do not and the alternative methods... Read More Green Card Tax Implications: Revoking and Abandoning Green ...
7. Look for Exemptions You may qualify for anexemptionif you fall into certain categories. Here are some demographic groups and property types for which states and municipalities might lower the tax burden: Older adults Veterans People with certain disabilities ...