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Category Archives: taxes
Weekend Wrap-up: Military Personal Finance Articles You Should Read (3/18-3/24)
This issue starts with a couple of Kate Horrell articles:
Texas law changes for military homeowners
Tax changes when you retire
LIFE: An Acronym to Live By (actually a guest post by USAA’s JJ Montanaro)
From there, we have 10 Keys to Proper Estate Planning, by Michael Chamberlain. Also, since it’s tax season, it’s not too late to Continue reading
Does the IRS Owe You Money?
According to the IRS, 5 million people were expected to file amended tax returns for 2014, out of 131 million original filings. For 2015, the IRS expects over 150 million individual returns, which means even more amended returns can be expected. Continue reading
Posted in taxes
Tagged amended return, irs, schedule a, schedule c, schedule d, tax liability, tax professional, taxes
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Three Tax Considerations When Selling Your Rental Property in the Military
When you make the decision to sell your home, it can be for any number of reasons: relocation, buying a bigger home, downsizing, or because it makes financial sense to do so. In fact, I previously wrote an article about this here. However, there are times in your military career where you just can’t sell your home as soon as you leave it: you’re underwater, you might move back into it later on, it’s got potential to make a lot of money as a rental, or timing issues. From the moment you have a tenant move into your house, it’s no longer your home…it’s a rental property. Whatever the reason for selling your home, let’s take a look at three tax considerations you should take into account: Continue reading
Military in Transition 