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- VA Grants Record-Breaking $137 Billion in Benefits & Veterans' Top Tax Perks
VA Grants Record-Breaking $137 Billion in Benefits & Veterans' Top Tax Perks
Plus how GRIZZLY Cookware merges military values with culinary innovation.
Nick Kellermeyer
July 30, 2024
The Homefront Report brings you the best news and resources that U.S. military veterans need to know.
This week we cover:
Legal News: VA Grants Record-Breaking $137 Billion in Benefits
Health & Wellness: Music Therapy Helps Veteran Heal
Product Of The Week: GRIZZLY Cookware
Finance: Tax Advantages for Military Veterans
LEGAL NEWS
The U.S. Department of Veterans Affairs (VA) has announced a historic milestone in its efforts to support veterans and their families. As of the third quarter of fiscal year 2024, the VA has granted benefits to 1.1 million veterans and their survivors, surpassing all previous records. This achievement represents a total of $137 billion in benefits awarded, including $127 billion in compensation and pension benefits.
To achieve this record, the VA processed over 2 million claims in 2024, surpassing last year's record by more than 27%. The grant rate for these claims stands at 64.6%, with the average overall disability rating granted to veterans this year at 70%.
“Our goal is to make sure every veteran and every survivor gets the benefits they've earned for their service to this country. These veterans and survivors are now receiving monthly payments for the conditions that followed them home from war or took the lives of their loved ones — and there is nothing, nothing more important than that."
This record-breaking performance by the VA signifies a major step forward in fulfilling the nation's commitment to its veterans. It ensures that more veterans than ever before are receiving the care and support they deserve, improving the quality of life for millions of veterans and their families across the country.
HEALTH & WELLNESS
Jac Lawler, a U.S. Air Force veteran, found healing through a music therapy retreat that helped her reframe traumatic experiences into empowering stories. The retreat not only fostered camaraderie among veterans but also provided a creative outlet for expressing and processing their trauma.
American Legion Post 58 in Guthrie, Oklahoma, has introduced "Bunker 58 E-Sports," a gaming program aimed at supporting veterans' mental health. The initiative, part of the Legion's Be the One suicide prevention efforts, provides a space for veterans to connect, compete, and find camaraderie through gaming.
John Pruett, a veteran diagnosed with ALS, refuses to let his condition define him. With the support of the VA, he has adapted to his new reality and is set to compete in the 2024 New York City Marathon using a racing wheelchair, proving that resilience knows no bounds.
PRODUCT OF THE WEEK
The Product: GRIZZLY Cookware offers the only nickel-coated cast iron cookware on the market, combining the durability of cast iron with the ease of modern maintenance.
The Story: GRIZZLY Cookware was founded by Kyle and Katie Caniglia, a husband-and-wife team based in Charlotte, North Carolina. Kyle, a U.S. Army veteran, and Katie, a passionate entrepreneur, were inspired by the rich heritage of Southern cuisine and the timeless appeal of cast iron cooking.
After discovering a surface finishing company specializing in nickel coating, the Caniglias saw an opportunity to revive the lost art of high-quality cast iron cookware. In 2015, they launched GRIZZLY, focusing on creating durable, easy-to-maintain cookware that eliminates the hassle of traditional cast iron care.
GRIZZLY Cookware is not just about creating high-quality products; it’s also committed to supporting the veteran community.
Approximately 45% of their workforce is veteran-operated, and they strive to provide employment opportunities for those who have served. The company’s mission is to celebrate American craftsmanship while ensuring that the legacy of cast iron cooking continues for generations to come.
“Everything that we have done has rallied around our core principles. We appreciate the experience, diversity of skills, and discipline of those who have served our country.”
FINANCE
Navigating taxes as a military veteran can be complex, but there are significant tax breaks available that can ease the burden. Did you know that while military retirement pay is federally taxable, disability compensation benefits are generally exempt? Additionally, many states offer full or partial exemptions on military retirement income.
QUOTE OF THE WEEK
"Hard times don't create heroes. It is during the hard times when the 'hero' within us is revealed"
Disclaimer: The Homefront Report, in association with HomefrontLaw.com, is an informational newsletter. The content of this email does not constitute legal, health, or financial advice.