Buying a home is no small feat. Not to mention, as a former military service member, there’s a lot to consider before taking this big step. From the location to the house size, making this choice will require careful planning ahead. Here are just a few things you should consider before you begin your house search. Your Loan Options Applying for a loan is an important step … [Read more...]
New W-4 Form; What You Need To Know
MARCH 4, 2021 - The Internal Revenue Service has issued a new W-4 form for filing year 2020. It is substantially different than its predecessor. The revision is the result of the Tax Cuts and Jobs Act of 2017. The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. A “withholding” is the amount of money taken out … [Read more...]
Navy Modernizes Tuition Assistance Debt Payments
JANUARY 4, 2021 - The Navy has modernized the way Sailors, Marines, and Coast Guardsmen can pay back tuition assistance (TA) debts beginning in January 2021. The new program provides service members with the option to pay their debt on a mobile device or computer using a debit card, electronic funds transfer (EFT) or via a PayPal account. Credit cards will not be accepted … [Read more...]
Soldiers, Civilians to Repay Tax Deferments Through December 2021
DECEMBER 31, 2020 - The Defense Finance and Accounting Service is planning to extend payroll collections for Soldiers and Army civilians through December 2021 to reimburse a tax deferment designed to support personnel during the COVID-19 pandemic, officials said. A presidential memorandum signed in August temporarily paused a portion of Social Security, called Old Age, … [Read more...]
Navy Increases Accessibility to Financial Literacy Training via Navy e-Learning
DECEMBER 14, 2020 - The Navy is making financial literacy training more accessible to Sailors via the Navy e-Learning (NeL) website and an updated mobile application. In response to the Fiscal Year 2016 National Defense Authorization Act that mandated the Department of Defense provide service members with additional financial literacy training, the Navy developed financial … [Read more...]