Taxes

A year-end review will set you up for financial success in 2017.

The Year-End Review: Put A Bow On It!

Another year is almost in the books and it’s been a wild one.  Mother Nature left no doubt about who’s in charge, the election, and…


3 Things To check On Your LES Every Month

3 Things To Check on Your LES Every Month

The military’s version of a “paycheck stub” is the Leave and Earnings Statement (LES).  LES are issued at the end of every month, usually about…


Adjust your Tax Withholding to avoid overpayment

Adjust Your Tax Withholding, Says The IRS

There are a lot of different philosophies about income tax withholding.  Some people challenge themselves to get their withholding close to their actual tax liability, so…


You Should Understand Your Tax Situation

Understanding Your Tax Situation

Almost every day, I talk to someone who says something like, “I don’t know how that works,” regarding their federal income taxes.  Now, I’m not…



Active Duty Taxes

From The Mailbag: Active Duty Taxes

There are so many things to learn when you enter the military, and it seems like a lot of stuff doesn’t get covered in the…


The Mailbag brings us Retiree Tax Questions

From The Mailbag: Retiree Tax Questions

Tax time always brings a lot of questions from readers.  Today’s post is a compilation of tax-related questions received from retirees: Taxable vs. Non-Taxable Retirement…


How To File For A Tax Extension

How To File For A Tax Extension

The deadline to file your federal income tax returns is next Monday, 18 April 2016.  If you’re one of the thousands of Americans who aren’t…


Do You Have A Plan For Your Tax Refund?

A Plan For Your Tax Refund

“Financial planner hits monster lotto payout…and dedicates life to raising rabbits.” Never mind that it’s not going to happen or that in the very, very…



How Your Income Tax Changes When You Retire From The Military

Tax Changes When You Retire

Several people have asked me to write about how your income tax changes when you retire from the military.  On one hand, it is pretty…



How to get your military 1099R retirement pay tax statements.

Obtaining 1099R Tax Statements

It is the time of year when I get a lot of emails asking me to send tax statements. While I’d love to help people…


Reporting Tricare On Your Tax Return

Rethink Your Big Tax Return

This time of year, I hear lots of military families who are excited about big income tax returns:  $2000, $3000, and up.  I understand why…


Fixing 1095 Tax Statements for Military Families

Fixing 1095 Affordable Care Act Statements

New for the 2015 tax year, taxpayers are required to have 1095 statements showing that they had Minimum Essential Coverage (MEC) for healthcare as required…



Where To Do Your Taxes

For the complete list of free and discounted tax options for military families, see the Military.com Discount Center’s article, Free and Discounted Tax Preparation for…


How To Read A Military W-2 | The Paycheck Chronicles at Military.com | https://paycheck-chronicles.military.com #taxes #military

How To Read A Military W-2

2015 W-2 Wage and Tax Statements almost all released, and it is common to have questions when you see your military W-2.  Let me explain…


Reporting Tricare On Your Tax Return

Reporting Tricare On Your Tax Return

Now that the tax preparation season has started, we’re getting questions about reporting health care coverage on your income tax return.  The Affordable Care Act,…


Money Tasks

Four Simple Money Tasks for Today

If you celebrate Christmas, it is likely that you’ve gone through some gift-exchanging over the last few days, and perhaps you are cleaning up and…