Don’t forget to thank an
American hero on November 11th.
Whether you have plans to get involved with a military organization, visit
a local veterans’ hospital or attend a parade, show respect and appreciation for
the brave men and women who have protected our way of life.
For all veterans and
active duty military, many restaurants and retail stores are offering amazing discounts
over the holiday weekend, including Monday. During tax season, Liberty Tax
offers FREE tax preparation for active duty military and veterans during the
week of February 17th through February 23rd. Liberty will prepare tax returns free of charge to those veterans, active
military and their immediate family members who are first-time customers at
Even more important than
the Veteran’s Day sales are the exclusive credits and deductions that veterans
and service members can also take advantage of during tax time (see the IRS’
complete Armed Forces’ Tax Guide).
Certain benefits are excluded from being taxable income, such as:
- Bonus pay from serving in a combat zone
- Education and training allowances
- Disability and pension payments to veterans or
- Insurance proceeds paid to veterans and their
- Grants for vehicles or homes tailored to injured
IRS.gov lists important tax information
for veterans and military members. Additionally, the Department of Veteran
Affairs outlines other tax
benefits that are offered to injured vets.
Take time out of your day
to recognize those who have served our country. Liberty Tax gives a special
salute to our veterans and Armed Forces. For veterans or service members who
may have questions about deductions or credits that you may qualify for, find a Liberty Tax office
near you or call 1-866-871-1040.
Disclaimer: Every effort has been
taken to provide the most accurate and honest analysis of the tax information
provided in this blog. Please use your discretion before making any decisions
based on the information provided. This blog is not intended to be a substitute
for seeking professional tax advice based on your individual needs.