1. What geographic areas are considered combat zones?
Arabian Peninsula Areas, beginning Jan. 17, 1991 — the Persian Gulf, Red Sea, Gulf of Oman, the part of the Arabian Sea north of 10° North latitude and west of 68° East longitude, the Gulf of Aden, and the countries of Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia [...]
Compensation for active service while in a combat zone isn’t included in gross income. The exclusion for a commissioned officer — other than a commissioned warrant officer — is limited.
If you receive tax-free combat pay, you can include it as earned income:
When determining the Earned Income Credit (EIC)
When determining the additional child tax credit
For purposes [...]
Last year President Barrack Obama signed the Tax Relief, Unemployment Insurance reauthorization, and Job Creation Act into Law. This “Act” extends the “Bush” tax rates for individual, includes a temporary employee payroll tax cut, patches the Alternative Minimum Tax, extends certain deductions and 2009 stimulus credits, and temporarily modifies the estate tax provisions.
The Act for [...]
The Internal Revenue Service makes it easy to get copies of every federal tax form that you need to do your taxes. All it takes is a toll-free telephone call and the forms are on the way, IRS officials said.
There is a tax form or schedule to cover almost any tax situation that you may [...]
By Scott Prater
CSMNG
Ah the holidays; a time for celebrating and enjoying the company of friends and family.
Unfortunately for many of us, this holiday season comes in the midst of a stagnant global economy, where prices continue to rise and salaries remain fixed.
“This phenomenon doesn’t have to be unpleasant for folks, however,” said Christina Stump, community [...]
By Lea Johnson
CSMNG
Despite an uncertain economy, many families don’t hesitate when it comes to holiday spending. According to the National Retail Federation, Americans will spend more than $465.6 billion for gifts, decorations, and entertaining during the holiday season, but where families choose to spend their money is just as important as how much they spend.
The [...]
By Walt Johnson
CSMNG
The holiday season means it’s time for gift-giving, spending time with family and preparing for the New Year.
The holiday season for many is a time to make a commitment to get in shape and that means starting a fitness program.
Today many people find it difficult to get to a gym or a fitness [...]
By Nel Lampe
CSMNG
Shopping malls and big box stores can get very crowded during the holiday season. How about an alternate place to shop that’s filled with atmosphere and fun? There’s a Christmas village in a wooded area that has holiday music piped through loud speakers, the smell of popcorn in the air and several shops [...]
By Andrea Sutherland
CSMNG
Stacks of X-Boxes, Sony Playstation 3s, Disney Princess guitars and a Craftsman Wet/Dry Vacuum line the walls of a storage room in the Kmart off of Palmer Park and Powers boulevards. In the store, Melissa Dohoney helps customers, hauling products in and out of the storage room.
“It gets busier around the holiday season, [...]
By Nel Lampe
CSMNG
Last month, more than 2,000 runners finished the Pikes Peak Ascent — and 139 of them ran the Pikes Peak Marathon the next day.
Now, that’s fit.
But many people aren’t interested in running up Pikes Peak, let alone making it a round trip the next day. They just want to be healthier — perhaps [...]