Red, White and Blue Tax Tips: In Honor of our Military

At Patrick and Robinson CPAs, we’re grateful for our military men, women and their families’ sacrifice for our country. As certified public accountants, we can show our appreciation by providing useful tax tips to the honorable citizens who serve and protect America.

• Combat pay is partly or fully tax-free.
• A special computation method exists for service members who earn combat pay.
• If you’re a reservist whose reserve-related duties require travel more than 100 miles from your home, you can deduct the unreimbursed travel expenses even if you don’t itemize your deductions.
• Use Form 3903 to deduct eligible unreimbursed moving expenses.
• Low- and moderate-pay service members may qualify for the Earned Income Tax Credit.
• You can claim the saver’s credit if you earn low-to-moderate income and contribute to an IRA or to 401(k)-type plans such as the Thrift Savings Plan.
• If military regulation prohibits you from wearing your uniform while off duty, you may deduct unreimbursed uniform costs.
• Service members stationed abroad gain an extended time to file their tax returns (June 15). Those serving in a combat zone can usually wait up to 180 days to file their return after they leave the combat zone.
• Service members may also request to delay payment of income tax before or during their period of service.
• The Volunteer Tax Assistance program provides free tax preparation to service members and their families on U.S. and international bases.

If you need assistance with your individual income tax return or any other budget planning issues, the tax accountant team at Patrick & Robinson CPAs can help. Contact us at (904) 396-5400 or Office@CPAsite.com.Thank you for your service!