Tommy Blackburn, CFP®, CPA, PFS, of Mason & Associates discusses the recent changes to the Virginia Military Pension Deduction.
ℹ️ About the Episode:
• The deduction is now for Military retirees of any age (previously 55+).
• The deduction for 2023 is $20,000. It will grow by $10k per year until 2025.
• Make sure your accountant/tax preparer knows this deduction.
• It is worth up to $1,150 on your Virginia return for 2023.