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Like many other Americans, members of the military face a variety of financial challenges during their lifetimes. Fortunately, their service is rewarded with special benefits, tax breaks and other legal protections that can alleviate financial concerns. Here are some of the financial benefits available to service members and their families throughout their lives.

Basic Pay and Allowances

Like many other Americans, members of the military face a variety of financial challenges during their lifetimes. Fortunately, their service is rewarded with special benefits, tax breaks and other legal protections that can alleviate financial concerns. Here are some of the financial benefits available to service members and their families throughout their lives.

Basic Pay and Allowances

The 2016 presidential election results seem to have almost divided our nation in half – with nearly 50% of the population feeling more elated and hopeful in our country’s future than ever before, and the other 50% feeling confused, depressed and fearful of what lies ahead.

The medical expenses you accrue over the course of a year have the potential to take a pretty sizeable chunk out of your wallet, especially if you find yourself in the unfortunate position of needing emergency medical services or ones that aren’t 100% covered by your insurance plan.

If you are in the U. S. Armed Forces, there are special tax breaks for you. For example, some types of pay are not taxable. Certain rules apply to deductions or credits that you may be able to claim that can lower your tax. In some cases, you may get more time to file your tax return. You may also get more time to pay your income tax. Here are some tips to keep in mind:

The U.S. House of Representatives has passed a bill aimed at protecting people from potential tax fraud. The bill, H.R. 3832, was introduced to curb the recurring problem of tax fraud being committed by identity theft.

Benjamin Franklin once wrote that, “nothing can be said to be certain, except death and taxes.” Taxes are a necessary evil in our society. While nobody likes to pay taxes, it’s how we pay for our roads, schools, and emergency personnel amongst other things. But the residents of some states pay much more than others.

This week we’ll be getting ready to celebrate one of our country’s best holidays, Thanksgiving. While we’re selecting our turkey and preparing the feast we can’t help but think back to when our forefathers first came to this great land. Every year since we’ve been working to create a better America, and one way that we’re able to achieve that, is through our taxes.

Veteran Ventures – 501(C)(3) Approved in Brevard County - Contribute with confidence!

Veteran Ventures is pleased to announce we have received great news from the IRS. Our 501c3 has been approved as of October 24th 2013. View 501c3.