November 2020 Volume XI
Special Edition in Honor of Our Veterans and Their Families
The purpose of Kappa Beta Delta is to encourage and recognize scholarship and accomplishment among students of business pursuing associate degrees. To encourage and promote personal and professional improvement and a life distinguished by honorable service to humankind.
Special Tax Considerations for Veterans
Veterans face unique tax considerations due to their status. This includes disabled veterans. Here are some things to consider for disabled veterans and their families:
· Disabled veterans may be eligible to claim a federal tax refund if they receive an increase in the percentage of disability from the Department of Veteran Affairs.
· They may also be able to claim this tax refund if they are granted Combat-Related Special Compensation.
A disabled veteran can file Form 1040X, Amended US Individual Income Tax Return, if they need to make changes to their return based on the above or other changing circumstances. The veteran may only have to file an amended return on the year that the change is made.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov
Giving Back This Veterans Day
This Veterans Day give back to military members and their families. There are many ways to participate. Here are some to get you started:
· Disabled American Veterans has many ways to give back, from events to charitable gifts to chances for advocacy.