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Military Family

  1. There Are Really Only Four Ways to Cut Your Taxes

    That is right. I said it. There are really only four ways to cut your taxes. When you look at all the things out there, they break down into four different areas. So, let’s take a look at each area and the pluses and minuses. Spend a Dollar to Cut...
  2. You Might Need an Umbrella Even if it Isn’t Raining

    In my dealings with military members, I’ve found that most of them do a pretty good job protecting against the big risks in life. They usually have adequate life insurance (when combined with SGLI and SBP), health insurance through TRICARE and protection for their personal belongings (auto, home or renters...
  3. GI Bill and Taxes….Not Exactly a Match Made in Heaven

    The Post-9/11 GI Bill is one of the best benefits out there today. The opportunity for a nearly “free” education is something you should take advantage of. But, like with many things the Post-9/11 GI Bill is not simple when it comes to taxes. Let me explain… GI Bill Alone First...
  4. Combat Pay and the Earned Income Tax Credit

    The Earned Income Tax Credit (EITC) has been a part of the tax code, in one form or the other, since 1975. According to the IRS the EITC exists, “in part to offset the burden of social security taxes and to provide an incentive to work.” Because of the numerous changes...
  5. Military Tax Benefit: Delayed Actions When In a Combat Zone

    Dealing with the IRS is stressful enough. It can become even more stressful if you or your spouse is in a combat zone. The Government realizes this and those serving in a combat zone have some special exemptions for taking action with the IRS. Taking action can include: filing your taxes,...
  6. Annuities 201: Do They Belong In Your Financial Plan?

    Annuities are some of the most heavily marketed investment vehicles available. And as I said in Annuities 101, annuities are neither good or bad.  It depends on what your financial goal is. Once you set the financial goal, you’ll be able to determine if an annuity is right for you. Since...