Treatment of distributions to persons placed on active service for at least 179 days (article 72(t) of the code)Under the current law Under current legislation, a taxpayer who...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
The tax law affords a few exceptional advantages for energetic members of the U.S. Armed Forces and certain blessings for individuals serving in combat zones. For greater armed forces...
Posted by David Yeomans Accounting Service, Inc. on 04/27/2018
Almost all retirement plans are subjected a particular rate of income tax and early withdrawal may subject it to an extra 10% tax. Typically, an individual draws retirement funds before...
There are numerous differences between so-called civilian tax and military tax deductions. For one thing, combat pay is not taxable for enlisted personnel and, within certain limits,...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 01/04/2018
For those who are serving in the military, there are a variety of potential tax deductions and benefits that may be available. However, there are some very specific benefits that apply...
Young families can keep their tax bills low by following some significant measures. Our list will help them to save for college, benefit from their flex account, and through many other...
Posted by Patrick O'Hara, EA on 02/01/2016
During tax season, individual tax payers are often looking for ways to legally reduce their tax burden. Throughout the pages of IRS regulations, there are a myriad of available deductions...
Posted by AccuraTax LLC on 01/28/2016
Millions of taxpayers have overpaid their taxes throughout the years. Many of these same taxpayers are unaware of these deductions, so it is important to work with your tax preparer...
Posted by James Wells EA MBA Tax Office on 01/21/2016