$250 Veterans Property Tax Deduction
If you are already enrolled with your town the tax deduction will automatically renew every year. If you are applying for the first time apply this year so you can begin getting the deduction next year.
$250 Veterans Property Tax Deduction
If you are an honorably discharged veteran with active wartime service, you may qualify for an annual $250 Property Tax deduction.
Veterans who served in peacekeeping missions and operations may qualify.
You also may qualify if you are a surviving spouse/civil union/domestic partner.
Note- this is NOT a veteran deduction.
This is wartime vets only.
The vast majority of the military gets nothing despite giving up years of their lives.
Also don't forget there is now a veterans deduction on the nj income tax
1 week ago
Josh brings up an interesting, although uninformed, point. I wonder what the total pay/benefit differences tween private and military sectors. Can you get rich? Will you be poor?
You know —- for some reason it ain’t that easy to find out. Almost a mystery....... In the forces, you do get some tax benefits while in, especially at the state level. There’s some level of education, health, loan, housing, etc. some during, some post —- but a complete comparison did not jump out at me.
Its the military retirement benefit that is the equalizer
Bug- very very very few people retire in the military.
It takes a great toll on your body, mind, family, etc.
For most- it is a young man who signs up for an agreed amount of years, and then gets out when done.
If they doesn't get stop lossed (forced to stay past initial active duty agreed upon- when typically they would 'get out' and be on inactive duty- meaning they can be called back if needed for another agreed upon amount of years).
Example- I signed up for 8 years- 4 active, 4 inactive.
My pay when I went into the Army in 1996 was $809.10 a month to start.
So yea- about $200 a week, less than $27 a day on a 30 day month to get your ass kicked.
Nobody gets rich in the military.
My cousin was a lifer. Got Alaska, Germany, room and board, free healthcare, it was OK. Got his Masters in Psych, became a recruiter in Montana, owns a number of houses, he has done well.
My friend Dad, just post the greatest generation, got his Masters, retired out, became a Professor, Consultant and pulled two full pensions.
Sure, you’re right on the preponderance, but that’s true in private sector too. Some do well, some don’t
Still wonder what the comparison is.
Of course, there’s no value that can be computed for the risk, or the reward of that service to the nation. These guys were both lucky not to face that.
My 'room & board' was myself and another guy in a concrete block room with 2 beds and 2 wall lockers.
Josh...millions retire from the military with 20 years.....take it from a military brat...most military jobs don't involve combat..many , many support jobs
Not to mention...military pensions increase...but alas army veterans have a tougher time finding civilian work than navy or airforce...navy and airforce seem to have more technical jobs that mesh with civilian life
Thanks Josh, a good start but not going to do the work to get to a apples-to-apples salary plus benefits = total remuneration comparison.
Bug: see above --- both my examples were fortunate not to be called to a front, partly due to timing, partly due to job --- as I said -- one moved into recruiting, out of Alaska and Montana --- how great is that, much less after Germany.... The oil was a Phd in lubricants --- he was going nowhere except DC where he was stationed. Both had no major issue in the private sector although the Psyche major certainly had some friction. The lubricant guy just entered education at a great college and consulted on the side ultimately pulling double pensions.
Both would be poster-children for Armed Services success stories.
Although I agree with Josh that the preponderance follow the path he noted. I would hazard the guess that given the education and skill set of this group, many, if not most, are still better off than if they had forgone national service.
I am a strong believer that we should have two years, minimum, public service either volunteer or armed services, for all citizens. It's unfortunate, but I think time we mandated this. We're all living longer, we can afford it.
One example is a guy I worked with at Pica, was a LTC, making over $100k - he retired (about $55k per year) on a Friday, started work as a civilian GS-15 ($167k) on the next Monday.
So now he is making over $220k per year to sit in an office at Pica. He was a staff guy, never saw any combat. Oh, Pica also hired his wife as an admin assistant when he was still active duty as part of Army spouse preference policy. So there's another $50k income for them. That's $270k per year for that couple. Even for around here that's pretty good, isn't it?
Reggie- are you seriously trying to use a lieutenant colonel (high ranking officer) as an example?
I linked to pay charts above- scroll down to the part with E, as in enlisted, which is what most of the Army is.
As a rough guess- a good average for what pay is would be between E3-E5 4-6 years.
For every guy that stays on for say E6, 7-8 years- countless others got out at 4 or before and never made SGT.
"I am a strong believer that we should have two years, minimum, public service either volunteer or armed services, for all citizens."
I think any politician should have to have served. And I don't mean any of that academy officer B.S.
People know what the pay and requirements are going in. We don't have a draft. Like any other job, if the terms aren't agreeable, don't sign on.
HSD --- having read the recruiting site, I am not so sure.... I see lots of words, very little numbers....
Of course, who am I to talk ---- I found my expected salary in my senior year...worse yet, on average I would have to start in bum-freak and move towards urban areas with experience. Ooops….think that was a day-one question....
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