Money - Page 2

Thrifts Savings Plan (TSP) Contribution Limits

2024 TSP Contribution Limits

Updated: December 22, 2023

The Internal Revenue Service has announced 2024 Thrift Savings Plan (TSP) contributions limits. In 2024, Thrift Savings Plan participants can contribute up to $23,000 in elective deferrals, according to the Internal Revenue Service. Participants age 50 and older can make an additional $7,500 contribution, for a total of $30,500.  The IRS announced the TSP contribution […]

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FICA Max Tax

2024 FICA Percentages, Max Taxable Wages and Max Tax

Updated: December 27, 2023

FICA (Federal Insurance Contributions Act) requires federal agencies to withhold Social Security and Medicare taxes from employees’ compensation. It also requires them to pay matching FICA taxes to the Social Security Administration. Under the law, the Department of Defense must withhold FICA taxes from all military service members, including those serving in: Wages subject to […]

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American Express Military Benefits

American Express Platinum Benefits for Military

Updated: June 20, 2024

Credit cards can be a powerful tool for military families when used strategically and paid in full each month. They offer valuable rewards, eliminate currency transaction fees, and provide added consumer protections. With a list of perks that perhaps no other card can match, deserves a place in your wallet. You can enjoy a little […]

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how to set up VA direct deposit

How to Set Up VA Direct Deposit for Benefits

Updated: February 23, 2024

The Department of Veterans Affairs (VA) pays disability, pension and education benefits associated with your military service. You can get these payments quickly and safely when you set up VA direct deposit to your bank account. Setting up and changing your VA direct deposit is simple as long as you know where to go. The […]

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VA Debt Management Program: Help for Veterans Who Owe The VA

VA Suspends Debt Collection Thru September 2021

Updated: November 3, 2022

The VA will continue the suspension of collection on all Veteran benefit overpayments and medical copayment debts through Sept. 30, 2021. “My top priority right now is to do everything in our power to help our Veterans, caregivers and their families get through this challenging COVID-19 pandemic,” said VA Secretary Denis McDonough. Veterans and beneficiaries […]

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SBA loans for veterans

SBA Loans and Resources for Veterans

Updated: July 21, 2022

The Small Business Administration offers veteran entrepreneurs training and counseling, as well as assistance in finding funding, including small business loans. If you need a military small business loan with competitive terms and lower down payments, the SBA may be a good option. This government agency offers many opportunities, including training, education, and funding assistance. […]

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small business grants for veterans

Small Business Grants for Veterans

Updated: July 12, 2022

Nearly 6% of American businesses are veteran-owned, according to the 2020 Annual Business Survey, released in Oct. 2021. Some service members leave military service knowing they want to start a business but need some kind of funding, such as business loans or Small Business Administration grants. Others may not realize they want to start a business until […]

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personal loans for military and veterans

Personal Loans for Military Members and Veterans

Updated: July 21, 2022

Veterans and current military members might consider applying for a personal loan for several reasons. The cost of permanent change of station moves is one. Those moving from low-cost to high-cost areas may need more money up front for security deposits, storage fees and other expenses. In these instances, they may want to know how […]

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Updated: January 10, 2024

Find the CONUS COLA calculator or see the CONUS COLA locations. The 2024 Continental United States (CONUS) Cost of Living Allowance (COLA) rates take effect on Jan. 1, 2024. The total amount of CONUS COLA a service member receives varies based on geographic duty location, rank, years of service and dependency status. In 2024, roughly […]

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Military Tax Breaks For Families With Special Needs

Military Tax Breaks for Families With Special Needs

Updated: February 3, 2022

Military families are often eligible to claim certain tax breaks and benefits, and military families with special needs may have more tax advantages than they realize. Do you know what your potential tax breaks may be? What follows should not be construed as tax advice, but study the list below to see what you may […]

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