Military Tax: Income, Exclusions, Deductions, and Credits

Overview

This course focuses on the various types of pay and allowances received by members of the United States Armed Forces. You will learn which types of income, allowances, and benefits are includible and which are excludible from adjusted gross income. Additionally, there are several types of deductions and credits available to military members. Certain types of non-military income can be of great significance to military members. The course will also cover certain non-military sources of income often important to military members. Additionally, the course covers certain military retirement and disability payment tax issues. Finally, you will learn about state income tax implications as well as Internal Revenue Service administrative matters such as tax forgiveness and filing requirements.

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 


Objectives

After completing this course, students will be able to identify and apply:

  • rules related to includible and excludible military and non-military income
  • relevant military deductions and credits
  • issues related to savings and retirement plans
  • state income tax issues as they relate to federal income tax
  • filing tax returns and other administrative matters

Tax Year: 2022

Designed For:

CPAs, EAs, AFSPs, California Tax Preparers, Maryland Tax Preparers, bookkeepers, Oregon Tax Preparers, and other tax and finance professionals.


WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None