Military & Money, Resources

Tips to Make the Most of Military Tax Deductions

Being a member of the armed forces means your life is very different from that of a civilian, and tax time is no exception. Military personnel are entitled to certain tax deductions that others may not be able to claim. Properly claiming these military tax deductions can help you maximize your refund, getting you more money back at tax time.

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Author SAC FCU Managing Editor

Military & Money

Military and money: Simple strategies to build an emergency fund

An emergency fund can help you overcome unexpected financial hurdles, and it’s especially important to be financially prepared when military personnel are deployed. It’s also a financial issue many people need to address: A recent study by the National Bureau of Economic Research found that almost half of Americans would struggle to scrounge up $2,000 for an unexpected expense.

Some military spouses refer to unplanned outlays as Pvt. Murphy showing up every time a spouse is away on a tour of duty: Anything that can go wrong, will go wrong. That’s why an emergency fund is crucial. Here’s how to get started. Read more…

Author SAC FCU Managing Editor