Learn how best to advise your clients on tax strategy and planning as they grow in their military career, retirement, or post-service employment.
Members of the military receive special consideration in the tax code in areas such as gross income calculation, sale of home, and filing requirements. The frequent moves and deployments that many military members and families face results in varying situations from one year to the next. Many members of the military utilize the free tax preparation services offered to them aboard the military installations. Often, the military members do not see the same tax preparer in consecutive years. Understanding the military tax benefits will allow you to create relationships with these military members who will trust you and return to your services year after year. You will be able to advise them on tax strategy and planning as they grow in their military career and into retirement or post service employment.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Is Included and Excluded From Gross Income?
- Combat Pay
- Allowances
- Moving Expenses
Deductions and Credits
- Itemized Deductions
- Child and Other Dependent Tax Credits
- Earned Income Credit
Sale of Home
- 5 Year Test Suspended
- Reduced Exclusion Due to Rental
- Foreclosure
Filing Requirements
- Filing and Extension
- Alien Spouses
- State Taxes-Service Members Civil Relief Act
Taxes After the Military
- Va Benefits
- Military Retirement
- Tax Forgiveness for a Decedent
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 29, 2022.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Kristen Morgan
Kristen's Tax Service
- Owner: Kristen’s Tax Service
- Specializing in military tax, residential rentals
- Speaker for Syracuse University Warrior Scholar Project program 2022
- Marine Crops Veteran, Member of NAEA
- Master of Taxation from American University
- kristen@kristenstaxservice 951-973-3740
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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