Search found 4 matches

by Navy Chop
Tue Oct 11, 2011 11:01 am
Forum: Investing - Theory, News & General
Topic: Military Investing
Replies: 125
Views: 65766

Thanks to all for the replies to my question. I will continue to max the Roth Ira, and when then TSP Roth starts next year...I'll put all the extra money into it.

Good idea to include the information on the Wiki page. It's very h ard to find good financial information related to the military system.

Thanks to all again!!!
by Navy Chop
Mon Oct 10, 2011 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Military Tax Free Leave
Replies: 4
Views: 6567

They only refund the taxes for the dates you took tax free leave. For example you pay $300 dollars a months in fed taxes. You took ten days tax free leave, solessee refund in the les for $100 should have been included.
by Navy Chop
Sun Oct 09, 2011 4:53 am
Forum: Personal Finance (Not Investing)
Topic: Military Tax Free Leave
Replies: 4
Views: 6567

It appears as tax refund under the deductions on the LES. It won't show if you took it on a month that is already tax free. The leave to be tax free must be taken in a month outside the exclusion zone.
by Navy Chop
Sun Oct 09, 2011 1:34 am
Forum: Investing - Theory, News & General
Topic: Military Investing
Replies: 125
Views: 65766

My first post in the website after being reading it for about 4 months. Thanks to all for the comments and advices.

I got a great question about taxes...I understand with the military pay to fund the Roth IRA first. But at what point it makes sense to put first into the TSP. I just put on O-4 in the Navy, and it seems that taxes went up more than I expected. I'm a Florida resident, so I don't pay state tax.

Thank you!!