Curtis (Curt) Sheldon, EA

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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...
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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...
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Shake, Rattle and Roll… What Are the Insurance and Tax Implications?

Not too long ago, I was working in my home office when I was sure that the washing machine upstairs was completely unbalanced. As I started up the stairs I realized that the washing machine was off and I was going through an earthquake. I spent a few years in...
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Cash for Clunkers…Or the Tax Consequences of Donating Your Vehicle

After my 27 years in the USAF, I’m convinced that military members are some of the most generous people in the world. Folks routinely give of their time, money and possessions to help those less fortunate than themselves. If you have considered donating a car to charity, you may be...
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Full-Time Student on the GI Bill? You Might Be In a Unique Tax Situation

I had someone propose an interesting question to me the other day regarding Tax Returns. The basic question went something like this: “I’m a full-time student on the GI Bill and I have zero income. Should I file a tax return?” My first thought was, “No you have no requirement...
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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...
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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,...
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Your Rich Uncle Wants to Help You Save for Your Retirement

Your rich Uncle (Sam, that is) wants to help you save for your retirement. In fact, through the tax code the US Government has done several things to help pick up the tab for your retirement savings. I’ll review a couple that you may already be familiar with and then...
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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...
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Annuities 101: What Are They?

With the stock market “crash” of 2008, annuities have gained a lot of attention in the last few years. But what is an annuity? First of all, annuities are a life insurance product. Second of all, annuities are complicated and difficult to understand. Let me see if I can help clear up...
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