Accounting students create tax brochure for military students
Students in Wendy LaRock’s Tax II class at Minnesota School of Business-Brooklyn Center created a brochure that summarized tax laws that affect military students.
The service-learning project helped accounting students learn how tax laws differ for those serving in the military. As a result, military students learned of deductions and credits that can benefit their and their families’ financial situations.
“I know that this project helped my research skills and got all of us involved in a very important topic— the military—and how we could help them to the fullest,” said Sue Rawlings, student. “I learned that the military has some unique tax benefits that I would have never known about had we not done this assignment.”
Students researched tax incentives available to military personnel and worked together to produce a 12-page document written in clear and simple language. Copies of the brochure were given to the Minnesota School of Business admissions department to distribute to military personnel.
Deductions and credits military students can take advantage of for themselves and their families include combat zone exclusions, moving expenses due to permanent change of station, and extensions or deferrals of payments.
“I was glad to do this project as we are a military friendly school and this goes to show that the students of this class believe in our military students,” Rawlings said.