4th December 2019

dodea

14

What is the post allowance?

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PA is a cost-of -living allowance granted to an employee officially stationed at a post in a foreign area where the cost of living, exclusive of quarters costs, is substantially higher than in Washington, D.C. Allowance payments are based on family size and salary levels.

People also ask, what is post differential pay?

POST DIFFERENTIAL/DANGER PAY: Post differential/danger pay are two separate entitlements (taxable compensation) provided in addition to regular salary for employees permanently and temporarily assigned to certain overseas areas, which have been declared a "hostile area" by the Department of State.

Is post differential taxable income?

Cost-of-living allowances are not considered a part of taxable income. Post Hardship Differential, Danger Pay, and Difficult-to-Staff Incentive Differential (also known as Service-Needs Differential) are all considered recruitment and retention allowances. They are included in taxable income.

What is a hardship post?

A hardship post is a term used in the United States Diplomatic Service to describe a diplomatic post where living conditions are difficult due to climate, crime, health care, pollution or other factors. Employees assigned to such posts receive a hardship differential of between 10 and 35 percent of their salary.

1

What extra pay do you get when deployed?

In addition to base pay, soldiers may qualify for a family separation allowance of $250 per month if deployed to an area where dependents are not permitted. Hazardous duty pay, as of 2018, is $150 per month. Hostile fire or imminent danger pay is $225 per month.

2

How much is hardship duty pay?

HDP-L is intended to recognize the extraordinary arduous living conditions, excessive physical hardship, and/or unhealthful conditions that exist in a location or assignment. Rates are payable in increments of $50, $100, or $150 a month based on the level of QoL hardship in a given area.

3

How much is imminent danger pay?

Service members will receive $7.50 for each day they are on duty in an IDP area up to the maximum monthly rate of $225. Members who are exposed to a hostile fire or hostile mine explosion event are eligible to receive non-prorated Hostile Fire Pay (HFP) in the full monthly amount of $225.

4

What is a hardship pay?

Hardship Duty Pay (HDP) Hardship duty pay is additional compensation paid to service members assigned to locations where living conditions are substantially below those conditions in the continental U.S. (CONUS).

5

Is South Korea considered a hazardous duty area for taxes?

According to the IRS, South Korea is not currently a hazardous duty station. Here is the IRS website that documents these zones: https://www.irs.gov/individuals/military/combat-zones. Another way to know is if, on your W-2, you have a code Q in the box 12 area. This is pay that is considered hazardous duty pay.

6

How much is hazardous duty pay?

Servicemembers, who under competent orders, perform hazardous duties such as:flying duty as non-crewmembers, parachute jumping, demolition of explosives, handle toxic fuels, engage in flight deck duty or experimental stress duty, and so on earn $150 per month.

7

How much is the signing bonus for the Air Force?

The Air Force. To date, the Air Force offers enlistment bonuses of up to $10,000 for the following positions: airborne or land-based linguist, combat control, pararescue, explosive ordnance disposal, and survival evasion rescue evacuation. Those entering tactical air command and control can earn as much as $6,000.

8

How much do you get for separation pay?

FSA is payable at the rate of $250 per month (pro-rated to $8.33 per day for periods less than a month). To apply for FSA, you should submit a completed DD Form 1561, Statement to Substantiate Payment of Family Separation Allowance (FSA), to your servicing personnel office.

9

Do I get family separation pay while in basic training?

FSA is payable for temporary duty/training even before proceeding to the initial duty assignment. This means that new recruits who attend basic training and/or job training when they first join the military, receive FSA, once they have been separated from their dependent(s) for more than 30 days.

10

What is the meaning of combat pay?

Tax free additional compensation paid to members of the armed forces who are on active duty in a designated combat zone or hazardous duty area.

11

What is combat pay taxes?

Combat pay tax exclusion. Although any base pay earned by a member of the armed services while serving in a combat zone is excluded from federal income tax, it is still subject to Social Security tax and Medicare tax.

12

What is a capital gain or loss?

A capital gain or loss is the difference between your basis of an asset and the amount you receive when you sell it. Your basis is usually what you paid for the asset. You must include all capital gains in your income. You may deduct capital losses on the sale of investment property.

13

What is considered a capital gain?

Capital gain is a rise in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short-term (one year or less) or long-term (more than one year) and must be claimed on income taxes.

14

Do you have to pay capital gains tax when you sell your home?

It is true in most cases. When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based on the Taxpayer Relief Act of 1997, if you are single, you will pay no capital gains tax on the first $250,000 you make when you sell your home. Married couples enjoy a $500,000 exemption.

15

What is post hardship differential?

Post Hardship Differential: Post hardship differential is meant to compensate employees for service at places in foreign areas where conditions of environment differ substantially from conditions of environment in the continental United States and warrant additional compensation as a recruitment and retention incentive

16

What is a hardship post?

A hardship post is a term used in the United States Diplomatic Service to describe a diplomatic post where living conditions are difficult due to climate, crime, health care, pollution or other factors. Employees assigned to such posts receive a hardship differential of between 10 and 35 percent of their salary.

17

How much taxes do I pay when I sell my house?

If you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax-free. If you are married and file a joint return, the tax-free amount doubles to $500,000. The law lets you "exclude" this much otherwise taxable profit from your taxable income.

18

How can I avoid paying capital gains tax?

4. 1031 exchange. If you sell rental or investment property, you can avoid capital gains and depreciation recapture taxes by rolling the proceeds of your sale into a similar type of investment within 180 days. This like-kind exchange is called a 1031 exchange after the relevant section of the tax code.

19

How long do you have to live in your house to avoid capital gains tax?

The law applies to sales after May 6, 1997. To claim the whole exclusion, you must have owned and lived in your home as your principal residence an aggregate of at least two of the five years before the sale (this is called the ownership and use test). You can claim the exclusion once every two years.

20

Can you avoid capital gains tax if you reinvest?

With some investments, you can reinvest proceeds to avoid capital gains, but for stock owned in regular taxable accounts, no such provision applies, and you'll pay capital gains taxes according to how long you held your investment.

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