Taxes Archives • Page 2 of 2 • KateHorrell

What Military Moving Expenses are Tax-Deductible?

21 January 2019

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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…

New Law Will Make Tax Time Easier For Military Spouses

4 January 2019

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This post has most recently been updated on 4 February 2019. The president has signed the a bill that permits military spouses to use the legal residence of their service member for purposes of taxes (and voting.) S. 2248 (115th): Veterans Benefits and Transition Act of 2018 has a provision that states: “For any taxable year… | Read More…

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

3 March 2018

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

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

31 August 2017

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Occasionally, I’m fortunate enough to get to 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… | Read More…

Why My Teen Is Having Taxes Withheld This Summer

18 April 2016

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Our family is reaching another milestone this summer – the first paid job by a teen. Daughter #2 has obtained a lifeguarding job at a local pool, and we recently filled out all her new hire paperwork, including the W-4 Employee’s Withholding Allowance Certificate. As we filled it out, there was a discussion of whether… | Read More…

Military Spouses Residency Relief Act – The Actual Text

1 January 2015

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Passed in 2009, the Military Spouses Residency Relief Act (MSRRA) offers military spouses certain protections while moving around on Permanent Change of Station (PCS) orders. Unfortunately, it is an imperfect piece of legislation. It doesn’t address many of the issues that military spouses would like to see managed, such as what to do if you… | Read More…

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