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.
After completing this course, students will be able to identify and apply:
Tax Year: 2022
Designed For:
CPAs, EAs, AFSPs, California Tax Preparers, Maryland Tax Preparers, bookkeepers, Oregon Tax Preparers, and other tax and finance professionals.
Adding additional credit may change exam requirements.