Tax Breaks for Military Personnel

Members of the Armed Forces put their lives on the line to defend our country and the values of freedom all over the world. For that they are offered a few incentives, like the VA hospitals and base housing, the GI Bill.

There are also tax breaks for Military personnel that not all Veterans and Active Duty personnel may know about.

For Example Military personnel who are on active duty in a combat zone are entitles to extensions on their tax returns. There are restrictions to this, so give us a call if you have a friend or family member in a combat zone.

If you have left the military and are entering the civilian work force, you may be able to deduct a portion of your job hunting expenses. Keep your receipts and a log of your various appointments for when it comes time to file your tax return.

When in a combat position, you are entitled to a higher compensation, or combat pay. Your W2 should only reflect your regular pay and deductions, not your combat pay.

In the state of Florida, disabled Veterans are also entitled to certain tax breaks on the real property as well. And many companies who are hiring are giving preference to our men and women who have served in the military.

Pete DiSalvo

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