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Helping Military Families Make The Most of Their Money

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

23 January 2023

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

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…

39 Comments
Filed Under: Spouse Careers, Spouses, Taxes

Capital Gains Rules for Military Families

24 October 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Capital Gains Rules for Military Families

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…

139 Comments
Filed Under: Housing, Taxes

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

31 August 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

I’m fortunate enough to sometimes talk to some new, or new-ish, military spouses. There’s so much to know about money in general, and money and the military can be particularly tricky.  I usually have a limited amount of time, and I struggle to decide on the most important topics to discuss. I want to tell… | Read More…

8 Comments
Filed Under: Spouse Careers, Taxes

Taxes on Military Bonuses: How and Why

30 August 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

How do you figure taxes on military bonuses?

I’ve noticed a lot of frustration about taxes on military bonuses. That’s not surprising, because it IS frustrating if you don’t understand what’s going on. But it doesn’t have to be too hard to understand. First, you have to have a firm grasp on how income taxes work. If you are not sure, then read… | Read More…

38 Comments
Filed Under: Taxes

Understanding The Military Spouses Residency Relief Act and How It Applies To State Taxes

22 August 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

The Military Spouses Residency Relief Act (MSRRA) is an important law, but it is very misunderstood. Passed in 2009, it is actually an amendment to the Servicemember’s Civil Relief Act (SCRA) to provide certain specific protections to some military spouses. It was further updated in 2018 to include new protections for all military spouses. It… | Read More…

25 Comments
Filed Under: Spouses, Taxes

Why My Teen Is Having Taxes Withheld This Summer

18 April 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Why My Teen Is Having Taxes Withheld This Summer

This is an update on an old post about teens and income taxes. So the timeline makes no sense if you’ve been tracking 🙂 But the info is still true! Our family is reaching another milestone this summer – the first paid job by a teen. Daughter #2 has obtained a lifeguarding job at a… | Read More…

3 Comments
Filed Under: Education, Taxes

Your Tax Refund Isn’t What’s Important

8 March 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Oh, my goodness. You spend 2 minutes communicating with anyone lately, whether in person, on the phone, via owl, or on the internet, and the talk turns to income taxes. Everyone has a story this year, and they want to share it. It’s not surprising; between the changes to withholding last year, and the child… | Read More…

2 Comments
Filed Under: Taxes

Maintaining Your State of Legal Residence

20 February 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Consistent maintaining your state of legal residence can be a little extra work, but it’s important to do it. Legal offices and financial counselors have been saying it for years. You have to demonstrate, through your actions, that you are intending to maintain your legal residence in the state you’re calling home for tax purposes…. | Read More…

5 Comments
Filed Under: Taxes

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

10 January 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

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 Monday, 18 April 2022. 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…

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Filed Under: Taxes

Servicemember’s Civil Relief Act Text As It Applies To Spouses and Taxes

6 January 2022

This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Over the years, there have been a number of federal laws trying to make life easier when it comes to military spouses and taxes. These laws have all been amendments to the Servicemember’s Civil Relief Act. The Military Spouses Residency Relief Act Passed in 2009 and amended in 2017, the Military Spouses Residency Relief Act… | Read More…

7 Comments
Filed Under: Spouse Careers, Taxes

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WELCOME!

Hi! I'm Kate! Accredited Financial Counselor®, Navy spouse, and mom of four.

Here at the blog, I talk about the financial issues that affect military families - pay, allowances, and benefits. Plus college stuff, landlording, moving, taxes. We cover a little bit of everything.

My goal is to give you the tools to make the best decisions right now, so you'll be confidently prepared for whatever comes next - whether that's a PCS move, transition to civilian life, or retirement.

So grab a cup of coffee, tea, or whatever makes you happy, and let's get to know each other.

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This site does contain advertising and affiliate links. If you click on an advertisement or link, I may be compensated. I only promote companies that I love and trust. Kings High Media/KateHorrell.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com

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.

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