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Tax benefits can help military members who suffered disabilities

As someone who has gone to war or served in the armed forces, you deserve respect and the benefits owed to you by the U.S. government. Benefits can vary based on the state you live in as well, which is good news for people in Minnesota.

Minnesota has a collection of special benefits that many military members and veterans have access to. For example, military members are allowed to take a portion of their military pay off their state taxes, which helps them reduce what they owe to the government significantly, since they have offered a service to the country.

For members who are disabled and retired, retirees who entered the military before September 1975 and those receiving disability retirement or disability payments from the Veterans Association may have an exemption from federal income tax. In fact, most military retired benefits are free from taxing by the federal government, so what you earn stays in your pocket. There could be cases where the income could be taxed, so in all cases, an attorney or accountant should be involved in determining if you do or do not have to pay.

There is also a tax benefit you might benefit from if you served in a combat zone. If you served on or after Jan. 1, 2012, then you may receive $120 in tax credits for each month you served from 2010 onward. During your military service, your home of record must have been in Missouri for this to apply.

These are only some of the potential benefits you could have access to as a veteran; it's worth looking into other benefits available in your state.

Source: My Army Benefits, "State / Territory Benefits - Minnesota," accessed Dec. 02, 2016

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