KateHorrell

Helping Military and Veteran Families Be Confidently Prepared for The Next Stage of Life

Capital Gains Rules for Military Families


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Note:  This is not professional tax advice. While I have confirmed this information with various professionals, do not take my word for it. Read the tax rules yourself (link at the bottom.) Then, consult with your tax professional to see how the rules apply to you. Capital Gains? What the heck are they, and when… | Read More…

How To File For An Income Tax Extension, Military-Style


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Get a simple, free tax extension to get more time to file your federal tax return. The deadline to file your federal income tax returns is Tuesday, 15 April 2025.  Each year, more than 10 million Americans aren’t ready to submit their returns on that date. By filing for the automatic tax extension, you will… | Read More…

Home of Record and State of Legal Residence: Things You Need To Know


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The military can be confusing, with all its special terms and acronyms. One of the terms most often misused is home of record. The term comes up in questions about taxes and driver’s licenses and final moves. On rare occasions, when talking about final moves, it’s being used properly. The other 99.9% of the time,… | Read More…

From The Mailbag: A CPA Who Doesn’t Get SCRA


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There seem to be few things as confusing as state of legal residency as it applies to military service members and their spouses. Even the professionals are often under-informed or confused. As we see in this email I received. The SCRA Question Hi, I am a CPA in CA. I have a client in the… | Read More…

How Income Taxes Work – Even If You’re Not A Tax Person


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There’s lots of misunderstanding about how income taxes work. There are literally thousands of pages of laws, and hundreds of different tax forms. However, the basic system isn’t really that complicated. Understanding the basics of how income taxes work is a key step in making sure that you get your taxes right. It also helps… | Read More…

Should You Delay Filing Your 2023 Tax Return?


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This is a guest post from my friend and very smart tax professional Jerry Zeigler of JZ Financial Management. I’ve made a few edits to make it clearer to my murky brain. 95% of these words are his. And all the brains are his. It’s early February. Many taxpayers are eager to file their federal… | Read More…

Financial Advice for New Military Spouses (and the rest of us)


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New military spouses have SO many questions! So do new military members! There’s so much to know about money in general, and money and the military can be particularly tricky.  I definitely did not know enough about money when I was newly married. I wish I had learned a lot of things earlier. Here are… | Read More…

Income Taxes After Military Retirement: Don’t Get Stuck With A Huge Bill


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Confused about income taxes after military retirement? You are not alone! This is a perennial hot topic in military retirement groups. There’s always one person who ended up owing $14,000 in federal taxes their first year. And there’s always one person that claims that the system is somehow broken. This has created a rumor that… | Read More…

SCRA and Military Spouses for State Taxes


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SCRA has been amended (again), and it will change the way that many service members and their spouses pay state income taxes. SCRA and military spouses is a (relatively) new relationship, and changes are happening pretty regularly. It can be hard to keep up. But first, a little background. Before we got to where we… | Read More…

Tax Deductible Moving Expenses for Military


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PCS moves are expensive.  Even with all the allowances, you’ll sometimes have some out-of-pocket expenses, especially if you have pets. Thankfully, unreimbursed moving expenses can be deducted from your income taxes, and they’re a most valuable type of deduction. Disclaimer: No article can address every specific tax situation. Do not make any decisions based solely… | Read More…

Confidently Prepared!™

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Disclaimer

Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. This blog is strictly for informational and entertainment purposes only. The content on this site should not be considered professional financial or legal advice. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All reviews on this site represent the personal opinions of the author. All references to third party products, rates, and offers may change without notice.