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- 3 Ways to Make the Most of Your Terminal Leave
- 3 Reasons To Consider Hiring a Tax Professional
- 5 Tax Tips That You Can Find in the Armed Forces Tax Guide (IRS Publication 3)
- 5 Life Insurance Considerations for Your Military Transition
- Five Little-Known Services Your Financial Planner Should Be Offering
Top Posts & Pages
- Terminal Leave: Take it or Sell it Back?
- Military Pension Tax Rates By State
- Term Life Insurance Vs. Survivor Benefit Plan (SBP)—A Side By Side Comparison
- 3 Tax Considerations When Selling Your Rental Property In The Military
- Why You Should Strongly Consider Not Participating in the Survivor Benefit Plan
- Take The 30 Day Financial Transition Challenge!
- What Will My Military Pension Look Like After Retirement?
- Retirement Journal – 400 Days & Counting Down
- About Forrest
- Transitional Compensation for Abused Dependents
Author Archives: Forrest Baumhover
In a previous article, I wrote about the decision to either take terminal leave or sell it back. Basically, it boils down to the opportunity costs—what are you going to do with that terminal leave if you choose to take … Continue reading
For a lot of military households, tax preparation is simple, straightforward, and free. Every year, just collect the paperwork and head down to the VITA (Volunteer Income Tax Assistance) office, and the staff can help you do your taxes. Or, … Continue reading
Most military members should know about the free tax filing assistance programs that are available. These programs range from free access to tax software to working with volunteers who actually prepare tax returns. Many bases even continue this benefit for … Continue reading
As you transition from active service, life insurance is an important, yet overlooked aspect of your post-military financial planning. In a previous article, I discussed five considerations about your military life insurance needs. To build on those relevant points, this … Continue reading
The financial planning landscape can be pretty confusing. Not only is it difficult to figure out who has your best interests in mind (as the debate over the fiduciary standard is pretty confusing), but it’s also difficult to figure out … Continue reading
I’ve written several articles about Roth conversions, particularly tax planning considerations & marginal tax rate impacts. This article serves as a case study to help visualize how a Roth conversion strategy could work, and how the tax liability can fluctuate … Continue reading
I recently received a question regarding the taxation transitional compensation for abused dependents. In researching my answer, I noticed that there is a lot of information on the subject. However, most of this information seems to be in the form … Continue reading
Most financial planners and counselors advise their clients to maintain emergency savings of somewhere between 3 & 6 months’ living expenses. As I’ve mentioned in a previous article, saving 3-6 months’ expenses sounds so daunting that many people don’t know … Continue reading
Tax planning is one of the most fundamental aspects of financial planning. In fact, many people would argue that financial planning without respect to taxes is not really financial planning. Yet, in order to fully understand how tax planning works, … Continue reading