Members of the military generally earn modest pay, but that hasn't prevented them from handling their money well. Newly enlisted members of the military generally are paid a relative pittance to defend our freedoms. But the small pay hasn’t prevented them from...
Every community in Massachusetts has a K-12 school district. This same system doesn’t exist for our youngest children. While public schools have struggles, families can navigate a district with elementary, middle, and high schools. But, early child care education...
If you’re a retired military personnel, where you choose to spend your post-service years can significantly affect your financial situation. Some states offer tax breaks and exemptions on military retirement pay, and maybe you can retire early. Others impose state...
Many Massachusetts military spouses run businesses or do gig work, and whether it’s a side hustle or a major operation, the IRS has tax resources, tools and information to help them keep things running smoothly. Tax resources on IRS.gov • Small Business and...
The following tables show preliminary 2024 Department of Veterans Affairs monthly disability rates for veterans with a rating of 10% or higher. These amounts are effective Dec. 1 of each year. They are tax-free. VA disability payments are made to veterans who got sick...
Military pay will increase 5.2% for 2024, compared to 2023 levels. The military pay applies to active members of the Navy, Marine Corps, Army, Air Force, Coast Guard and Space Force. The rates become effective Jan. 1, 2024. Official tables expected to be released by...
The U.S. Department of Defense in coordination with the U.S. Office of Personnel Management has expanded eligibility for benefits for military families who need help with the costs of dependent care. The Department of Defense and the Office of Personnel Management...
On June 14, 2023, President Joe Biden signed into law the Veterans Compensation Cost-of-Living Adjustment (COLA) Act of 2023, which directs the Department of Veterans Affairs to provide a cost-of-living adjustment for Veterans benefits in 2024 equal to the COLA...
Financial advisers are reporting that the increase in annuities for retired Massachusetts government workers, military retirees, and veterans is expected to be lower next year after the largest cost-of-living adjustment in four decades occurred in 2023. This news is...
In a Massachusetts divorce, a military pension is considered a marital asset and is subject to division. If at the time of your divorce, the parties failed to litigate or divide the pension pursuant to M.G.L. Ch. 208, 34, namely your former spouses military pension,...