Tag - military

Tax Breaks for the Military Family

Tax Breaks for the Military Family There are certain tax breaks available to members of the U.S. military and their dependents: Sale of principal residence A taxpayer on qualified official extended duty in the U.S. Armed Services or the Foreign Service may suspend for up to 10 years of such duty time the running of the 5-year ownership-and-use period before the sale of a residence. This election applies to one property at a time. To qualify, a taxpayer must meet the following criteria [...]

Why do we pay taxes anyway, SFS Tax, elderly man

Why do We Pay Taxes Anyway?

Why do We Pay Taxes Anyway? An SFS Tax Problem Solutions Blog.  No one likes paying taxes. It’s easy to focus on that check you write to the IRS each year or quarter. Or complain about the amount withheld from your paycheck. Or kvetch about the tax bite on the sale of our house, our stocks, or our inheritances. There are a lot of benefits to paying taxes though. Let’s face it… the government needs money to run. We could probably argue all day [...]