DoD

March 21, 2014

Tax tips for military personnel

The tax season is well underway and, so far the Edwards Tax Center has processed more than 200 returns and gotten our Edwards members more than $450,000 in refunds.

If you have not yet filed your taxes, and would like to use our free tax filing services, please call the Edwards Legal Office at (661) 277-4310. The Tax Center will be closing April 10, but call us today to make your appointment!

Here are a few tips regarding filing your taxes:

* If you are in the military, you may file your federal return jointly, but can file state returns separately. If you elect to do this, you may still file your federal return electronically, but you must mail your state return in.

* It is not too late to contribute to your Traditional Thrift Savings Plan or 2013 Traditional IRA. You have until April 15 to do so. These contributions lower your taxable income, reducing your overall tax liability.

* If you have made a large vehicle purchase in 2013, the sales tax on that vehicle may be deductible. Please bring in your purchase receipt from the dealership when you come in for your tax appointment.

* If you have a rental property, make sure you bring receipts paid for homeowner’s insurance, management fees, depreciation amounts, repairs and maintenance, and mortgage interest paid. All of this is deductible on your rental income, and can greatly lower the tax you will have to pay on your rental home.

* Gambling losses are tax deductible only to the extent of your gambling winnings. Your gambling winnings are also taxable as income. This includes winnings from lotteries, raffles, and casinos.

* When itemizing deductions, if you make a donation to a thrift store, homeless shelter, etc., it is important to list out each item that you donate as well as its corresponding value. This will help in the event that you are audited by the IRS.

* If you are selling your primary residence, tax law may allow you to exclude up to $250,000 (if filing single) or $500,000 (if married, filing jointly). You must have used the house as your primary residence for at least a period of two years within the last 5 years from the date of sale.

Once your return has been filed, it typically takes two to three weeks to see your refund if you are having it directly deposited into your bank account.

“Thank you all for your support of the Edwards AFB Tax Center,” said a Judge Advocate Office spokesperson. “We are proud to assist military members and their families with filing their taxes.”

For more information, questions or to make an appointment, call the legal office at (661) 277-4310.




All of this week's top headlines to your email every Friday.


 
 

 

News Briefs December 19, 2014

Commissary hours The Commissary will be closed Dec. 25 and 26. Regular hours will resume Dec. 27. The Commissary will be open regular hours Dec. 31, and closed Jan. 1, 2015. For more information, call 661-277-9175. Museum hours The Air Force Flight Test Museum will be closed for the Christmas holidays starting Dec. 22 and...
 
 

412th Force Support Squadron Holiday Hours

Christmas Eve: Dec. 24 OPEN: Aero Club: 8 a.m.-4 p.m. Arts & Crafts/Auto Hobby: 9 a.m.-3 p.m. Airman & Family Readiness: 7:30 a.m.-4:30 p.m. Child Development Center: 6:15 a.m.-5 p.m. Family Child Care: 7:30 a.m.-5 p.m. High Desert Inn: Open seven-days a week, 24-hours a day Information, Tickets & Tours: 9 a.m.-5 p.m. Library: 9...
 
 
Air Force photograph by Rebecca Amber

Edwards First Sergeants council wraps up Christmas programs

Air Force photograph by Rebecca Amber The annual Angel Tree program will provide gifts for around 300 Edwards children this year. The Edwards First Sergeants Council puts on the event to help Airmen unable to buy their children...
 

 
afmc-q-and-a

Lean thinking, process improvement highlight Busch’s time at AFMC

During the last 16 years and six assignments in Air Force Materiel Command, Vice Commander Lt. Gen. Andrew Busch was challenged to find new methods to operate more efficiently in one of the most complex and diverse commands tha...
 
 
flu

Flu season: What you need to know

Flu is officially upon us. If you have ever had the flu, you know it can knock you out ó with members of your family, friends and co-workers not far behind. Today, it’s more important than ever to get your facts straight...
 
 
driving-safety

Driving safely on snow or icy roads

Unless you’re traveling through the mountains of Southern California in the winter, driving in the snow doesn’t occur very often. First off, don’t assume your vehicle can handle any road condition. Even four-w...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>