Taxes Archives • KateHorrell

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

10 April 2023

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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, 18 April 2023. That’s because the 15th is on Saturday, and Monday, 17 April 2023 is a state holiday in Washington, DC. Each year, more than 10 million… | Read More…

SCRA and Military Spouses for State Taxes

13 February 2023

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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…

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…

Tax Deductible Moving Expenses for Military

21 January 2023

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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…

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!

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…

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!

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…

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!

Important note: This information was accurate at the time of publishing. The law has been further updated. For up-to-date information, see Servicemembers Civil Relief Act Text As It Applies To Spouses and Taxes. This article is remaining here for historical purposes. The Military Spouses Residency Relief Act (MSRRA) is an important law, but it is very… | Read More…

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

10 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…

Why My Teen Is Having Taxes Withheld This Summer

18 April 2022

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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…

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…

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