Question
why might a military taxpayer want to consider making contributions to the military thrift savings paln while deployed to a cpmbat zone? nontaxable combat pay
why might a military taxpayer want to consider making contributions to the military thrift savings paln while deployed to a cpmbat zone? nontaxable combat pay is
a a good source of funds to help the tax payer increase his or her tax basis in the military thrift savings account.
b subject to fica taxes and contributions to the military thrift savings plan can defer fica tax on at least some of the combat pay.
c not included in agi for purposes of deteriming taxability of current contibutions to the military thrift savings plan. therefore the taxpayer can pay tax on his or hers current contributions at a lower rate.
d not included in agi for purpose of determing the savers credit. therefore the contributions to the military thrift savings plan may increase the tax benefits of saving for retirement.
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