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.


 
 

 

Separated but not alone

MOUNTAIN HOME AIR FORCE BASE, Idaho–As the dawn broke out over the mountains, I woke up to the sun peeping through my window. Once I got up I went straight to the kitchen to make my family breakfast yet in the back of my mind, all I could think about was, how am I going...
 
 
duck-blind2

Duck blind drawing slated for Aug. 8

Waterfowl hunters can participate in the annual duck blind drawing scheduled Aug. 8 at the Rod and Gun Activity, Bldg. 210. Base hunting permits may be submitted to drawing officials from 9 a.m. until the actual drawing begins,...
 
 
LPGA1

Free golf clinics with LPGA tour player

Air Force photographs by Rebecca Amber Ladies Professional Golf Association tour player Stephanie Louden demonstrates how to correctly use three golf clubs, a wedge, a 7-iron and a driver during the free golf clinic July 24. Lo...
 

 

NASA’S American Eatery (Bldg. 4825)

Aug. 3-7 10:30 a.m. to 1 p.m. Monday Beef taco salad Tuesday Lasagna Side salad and garlic bread Wednesday Country fried steak Mashed potatoes and gravy Vegetables Thursday Orange chicken Fried rice and egg roll Friday Baked cod Macaroni and cheese Broccoli All Blue Plate Specials — $7.89 Drink not included. Medium Beverage, $1.99; Large,...
 
 

Air Force promotes fatigue countermeasures

Human fatigue results from sleep deprivation. Fatigue has become a growing concern in the Air Force as sustained and continuous operations, along with global deployments, are stretching the ability of our forces to meet growing mission demands. Some Airmen may question whether fatigue is really a big enough hazard to worry about. Fatigue can decrease...
 
 
U.S. Air Force photo by Tech. Sgt. Chrissy Best

Losing sleep: CSAF shares what keeps him up at night

U.S. Air Force photo by Tech. Sgt. Chrissy Best Air Force Chief of Staff Gen. Mark A. Welsh III speaks with 501st Combat Support Wing Airmen during an all call at Royal Air Force Croughton, England, July 16. Welsh explained the...
 




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=""> <s> <strike> <strong>