As a military family, tax preparation can be a daunting task, especially when you are stationed in a new location like Orange County. But with the right resources and guidance, you can confidently complete your taxes and maximize your potential refund.
Here are a few tips for navigating Orange County tax preparation for military families:
– Take advantage of military tax benefits: There are several tax benefits available to military families, including the military spouse tax relief act, the combat zone tax exclusion, and the earned income tax credit. Make sure to research and take advantage of these benefits to reduce your tax burden.
– Keep track of your military income: Military income is taxed differently than civilian income, so it’s important to keep track of your pay and allowances. This includes basic pay, special pay, bonuses, and housing allowances.
– Keep track of your moving expenses: If you were required to move for military reasons, you may be able to deduct some of your moving expenses, including transportation and storage costs. Make sure to keep receipts and documentation of your expenses.
– Use tax software or seek professional help: Tax software can make the process of preparing your taxes easier, especially if you have access to military-specific programs like Military OneSource or TurboTax Military Edition. However, if you are uncertain about your tax situation or have complex financial issues, it may be worth seeking the help of a tax professional.
Robert Hall & Associates has just launched an Orange County office and is available for tax help and preparation. Our team of experienced professionals can assist you with all aspects of tax preparation, including navigating military-specific tax benefits and deductions. Contact us today to schedule a consultation and get the peace of mind that comes with knowing your taxes are done accurately and efficiently.