Military Tax Issues Self-Study
When working with a member of the military, there are special tax provisions that tax professionals must be aware of. This course will familiarize you with these provisions, such as income that is excludable for tax purposes as well as deductions they are entitled to. You will also identify scenarios demonstrating when it would be beneficial to include their nontaxable income for the earned income tax credit (EITC) and be able to provide an overview of tax implications for military pensions and veteran’s benefits.
Upon completion of this course, you will be able to:
- Identify military pay that can be excluded from income
- Define the different forms of military pay
- Identify adjustments available to military personnel, including moving expenses
- Determine if nontaxable combat pay is included in earned income for EITC purposes
- Recognize special provisions related to excluding gain from the sale of a principle residence or foreclosures
- Identify and apply for forgiveness of a decedent’s tax liability
- Define the deadlines applicable to military personnel
- Determine the taxation of military pensions and veterans benefits
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.