Many times, certain deductible expenses are overlooked. Be sure to keep track of all of your travel expenses, including transportation, parking fees, ferry fees, tolls, lodging, meals and other incidental expenses. An important point to remember about military differential pay is that while the income is taxable, this pay is not considered wages and is not subject to Social Security and Medicare taxes. So it's important that military taxpayers ensure that their employers treat these earnings correctly.
More Quotes from Mark Steber:
The AMT is not just a tax that rich people pay anymore.Mark Steber
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It's a myth that it's too late to get your return done.
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Walk a day in my shoes....
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I'm constantly surprised how many people don't realize that if you're self-employed today, you're able to deduct 100 percent of the health-insurance premiums paid for yourself and your family.
Mark Steber
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