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Thread: QUESTION!

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    his little miss's Avatar
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    #1

    QUESTION!

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    OK so I dont know if this is where I should put this or not...




    When you get paid and it is tax free how much does that change what you get back on taxes?
    We have been getting tax free for about 5-6 months.
    I am trying to figure out what the change will be with what we get back.... do we still get the "sum" that they give you for having a child or does it ALL change due to getting tax free for those months?


    Any help would be GREAT!

    Thanks
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    #2
    When you file, your taxable income will be considerably lower because of those tax free months. So, it will place you in a lower income bracket.
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    #3
    My husband was deployed 11 months of 2007, and we got back a LOT of money (we have 2 kids). When we filed, it gave us the option to count his combat pay or not. Not counting it got us back a lot more.
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    #4
    yeah if it is tax FREE then your tax return will be a lot less, because you wouldn't be getting money taxed...
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    #5
    everything will be the same- tax free= is like putting 0 income for all those months he is gone-

    if he was here for 1 month then the taxable base will be the base pay for that month- since BAH and BAS are both no-taxable income.

    you will file your taxes as normal- even if you do long form 1040-
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    #6
    Quote Originally Posted by gunsgirl View Post
    everything will be the same- tax free= is like putting 0 income for all those months he is gone-

    if he was here for 1 month then the taxable base will be the base pay for that month- since BAH and BAS are both no-taxable income.

    you will file your taxes as normal- even if you do long form 1040-
    I hope so. I was just sitting here looking at bills and money and seeing which ones we can wipe out with tax money and I dont know what to expect with having gotten tax free for these past 5-6 months.

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