One of the more interesting things I’ve realized as a military spouse is that people automatically assume you and your service member have an inordinate surplus of money, when that couldn’t be further from the truth for many military families. In fact, it only takes the perfect storm of a few factors for a military couple to find themselves drowning in debt – like an unexpected overseas/OCONUS PCS, for example, and the (hopefully temporary) loss of one spouse’s income as a result of the move (where both spouses are employed).
Even though the government is still shutdown as of this writing, tax season will roll on with no delay. The Tax Cuts and Jobs Act, passed at the end of 2017 brought the most significant tax changes at the Federal level since 1986. Military spouses will see a major impact.