Military Spouse Entrepreneurs and Taxes

Building a career around military life is challenging for military spouses. Out of frustration, many spouses choose an entrepreneurial path to take control of their career path and earning power. But being a military spouse entrepreneur comes with its own unique set of challenges. In this episode, I talk with Attiyya Ingram about the things military spouses should know about being an entrepreneur, taxes, some of the challenges military life on entrepreneurship, and how to handle them. Attiyya is a military spouse, entrepreneur, and Accreditated Financial Counselor. She is a native of Philadelphia, Pennsylvania, where she graduated, with honors, from Hampton University with a B.S. degree in Accounting. Attiyya found her passion for helping others gain control of their financial well-being when volunteering with the Navy-Marine Corps Relief Society. Soon after, she expanded her financial education by attending Boston University and earning a graduate certificate in financial planning. All of this work culminated in her selection as a 2011 Financial Industry Regulatory Authority (FINRA), Military Spouse Fellow. In 2012, she successfully completed the fellowship and was designated an Accredited Financial Counselor (AFC)®. I enjoyed talking with Attiyya about some of the challenges we both faced as milspouse entrepreneurs. You’d be surprised at the one simple thing we needed as moms, wives, and entrepreneurs to set us up for success.

Thank You!

Support for the Military Money Show is provided by Navy Federal Credit Union where their members are their mission. If you’re trying to pay down credit card debt or make home improvements, Navy Federal has ways to help that work with your budget and goals. They offer a low intro APR on balance transfers with their Platinum Credit Card which can help with paying down high-interest credit card debt. They also offer a home equity line of credit that can give you convenient access to funds when you need them for home improvement projects. You can learn more at navyfederal.org.

Military Spouse Entrepreneurs and Taxes Episode Details

  • Rules for starting a business while stationed overseas
  • Importance of understanding rules for self-employed overseas
  • Getting started and communicating goals with your spouse
  • Prioritizing what you need for your business and setting boundaries
  • Military Spouse Residency Relief Act (MSRRA) basics and benefits
  • Tax strategies and tips
  • Finding help with your taxes

Military Spouse Entrepreneurs and Taxes Resources

This episode is sponsored by Private College 529 Plan. This year, they’re celebrating 20 years of helping families save for a private college education with prepaid tuition locked in at today’s rates. To learn about potential savings and to see what schools participate in the plan, visit PrivateCollege529.com.

Reserve Your Pass for #MilMoneyCon23

MilMoneyCon is the annual event for financial professionals united by military service. Its mission is to bring service members, veterans, and military spouses together to build and progress their careers, continue their education, and grow their earning power as practicing or rising financial professionals. MilMoneyCon23 is happening April 27-29, 2023, in Nashville, TN. Attending the annual conference gets you connected with the biggest community of military financial planners, coaches, counselors, candidates, and educators. It’s a place to find employment and money-making opportunities, increase earning power, and continue your education. Reserve your pass at https://milmoneycon.com. You can reserve your hotel room here. Change the arrival and departure date to April 27-30, 2023, for the discounted room rate.

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Disclosure These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I will only put affiliate links that align with our podcast discussion. If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.
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