It’s important to us to celebrate and uplift the brave women and men that serve our country. That’s why we’re proud to offer a wide range of services related to military tax benefits in Prince William County. Depend on our enrolled agents and tax professionals to help you file an accurate tax return with confidence.
Understanding Your Benefits
As a service member, you are potentially eligible for many different military tax benefits, leading to a reduced tax burden for you and your family. The bad news is that it’s not always easy to find these benefits in the tax code, let alone understand them. Orion United Professional Tax Services has years of experience and expertise when it comes to military benefits—and we’re dedicated to sharing this valuable information with you. With our support, you can determine whether or not you qualify for a range of benefits, including:
- Roth IRA Transactions
- Combat Pay Exclusions
- Homestead Exemptions
- Tax Deadline Extensions
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Dedicated to Helping You with Prince William County Taxes
Navigating the complexities of Prince William County tax laws can be challenging, but our expertise makes the process easy and stress-free. Whether you need help with individual or business tax returns, our team has the knowledge and experience to ensure you receive all the deductions and credits available.
Our team of highly skilled tax professionals is dedicated to providing excellent tax preparation and advisory services tailored to the specific needs of service members in Prince William County.
Knowledgeable and Experienced Tax Agents
We stay current with the latest Prince William County tax regulations and changes. Our team understands the region's unique tax requirements and incentives, enabling us to deliver accurate and comprehensive tax solutions.
Our tax services in Virginia go beyond preparation. We offer tax planning strategies that can help optimize your financial situation and minimize tax liabilities. From estate and trust tax planning to business entity selection, our experts are equipped to provide comprehensive tax advice to help you make informed financial decisions.
Contact Us Today
We invite you to
reach out to us to start the conversation about your military tax benefits. Allow us to be your trusted partner in achieving tax efficiency and financial success. With Orion United Professional Tax Services by your side, you can trust that your taxes are in good hands. We look forward to hearing from you soon and simplifying your next tax return.
Frequently Asked Questions
Q: What are military tax benefits?
A: Military personnel in the United States are eligible for several tax benefits designed to ease their financial burdens. Here are some key Prince William County tax benefits available to members of the military:
- Combat Pay Exclusion: If a service member serves in a combat zone, part or all of their pay is excluded from federal income tax.
- Tax-Exempt Allowances: Several allowances, such as Basic Allowance for Housing (BAH) and Basic Allowance for Subsistence (BAS), are tax-exempt.
- Earned Income Tax Credit (EITC): Low to moderate-income military members and their families may qualify for this tax credit, which provides a significant reduction in their tax liability.
- Roth IRA Contributions: Military members can contribute to and withdraw from Roth IRAs tax-free, providing both growth and withdrawal benefits.
- Moving Expense Deductions: Service members can deduct unreimbursed moving expenses if the move is due to a permanent change of station.
- Maximum Interest Rate Cap: The Servicemembers Civil Relief Act caps interest rates on pre-service loans at 6% during active duty.
- Lifetime Learning Credit: This credit helps service members and their families offset the cost of higher education by reducing the amount of tax owed.
Q: Does Virginia have a homestead exemption for military members?
A: Yes, Virginia offers homestead exemptions specifically for military members, particularly disabled veterans and their surviving spouses. To qualify, the property must be the veteran’s or surviving spouse’s primary residence. The tax exemptions are as follows:
- Disabled Veterans: Virginia provides a real estate tax exemption for the primary residence of disabled veterans. This exemption applies to veterans who have a 100% service-connected, permanent, and total disability rating from the U.S. Department of Veterans Affairs.
- Surviving Spouses: Surviving spouses of such veterans are also eligible for this exemption, provided they do not remarry and continue to use the home as their principal place of residence.
Q: Who qualifies for military tax benefits in Virginia?
A: In Virginia, several groups within the military community qualify for specific benefits regarding their Prince William County taxes. Here is an overview:
Active-Duty Service
- Active-Duty Military: Personnel stationed in Virginia may benefit from state tax exemptions and exclusions on certain types of income.
- Combat Zone Pay Exclusion: Income earned while serving in a combat zone is excluded from state taxation.
Reservists & National Guard
- Reservists & National Guard: Members called to active duty for more than 90 days or serving in a support role can also benefit from certain state tax breaks and deductions.
Veterans
- Disabled Veterans: Virginia offers a real estate tax exemption for veterans who have a 100% service-connected, permanent, and total disability rating. This exemption applies to their primary residence.
- Veterans with Lesser Disabilities: Depending on their disability rating, veterans may be eligible for other state tax benefits and exemptions.
Surviving Spouses
- Surviving Spouses of Disabled Veterans: Surviving spouses of disabled veterans who were eligible for the real estate tax exemption may continue to receive this benefit provided they do not remarry, and the property remains their principal residence.
