The purpose of the Annuity Supplement is to provide a portion of retirement income to FERS employees who retire before age 62. Ed Zurndorfer discusses who is eligible (or not), steps for estimated how much it will be, how long a retiree receives supplement payments, and how it works with Social Security. Practical examples are included more…
Federal Employees, Retirees Should Be Aware of Paying Estimated Taxes
Most federal employees and retirees receive some type of income that is not subject to mandatory federal and state withholding taxes. Ed Zurndorfer discusses why some should make quarterly estimated tax payments to the IRS and their state tax departments more…
Understanding the Capital Gain Tax Rules When Selling a Primary Personal Residence
Ed Zurndorfer discusses the important IRS rules of the sale of a principal residence, including the $250,000-$500,000 tax exclusion, how to calculate the gain or loss of a sale, and an explanation of the three tests that apply to the owner in order to exclude capital gain (profit) and the resulting taxes. Practical examples are included
Foreign Tax Credit: How it Works and Who Can Claim It
The foreign tax credit is an IRS tax break that offsets tax paid to other countries. Ed Zurndorfer explains how some federal employees may qualify for it, and the IRS reporting requirements more…
Changes to the Child Tax Credit Resulting from OBBBA
The one Big Beautiful Bill Act (OBBBA), which President Trump signed into law in July 2025, permanently extended the enhanced Child Tax Credit beyond 2025. Ed Zurndorfer explains who is a qualifying child for the CTC, and how it’s calculated. A practical example is included. more…
Important Tax-Savings Affecting 2025 Tax Filings from OBBBA
Ed Zurndorfer gives an outline of the changes in the new tax line that affect 2025 federal income taxes, including new permanently increased standard deductions, increased deduction for seniors. the increase in State and Local Tax (SALT) deduction, and auto loan interest deduction more…
CSRS / FERS Lump Sum Annuity Option (And How It is Taxed)
If eligible, a retiring CSRS or FERS employee may elect to receive the alternative form of a CSRS or FERS annuity, receiving a lump sum payment equal to the employee’s contributions to the CSRS or FERS Retirement and Disability Fund. Ed Zurndorfer discusses the specific eligibility requirements, the calculation of the lump sum payment and reduced CSRS and FERS annuity, and the tax liabilities more…
How CSRS / FERS Survivor Annuities Are Taxed
Ed Zurndorfer what portion of a CSRS or FERS survivor annuity (full or partial) is federally taxable under several common scenarios (examples included) and provides an important caution CSRS and FERS annuitants and survivor annuitants regarding information on on CSA 1099-Rs and CSF 1099-Rs from OPM’s Retirement’s Office more…
How CSRS and FERS Retirement Annuities Are Taxed
Ed Zurndorfer explains how the IRS taxes CSRS and FERS non-disability annuities when a federal employee retires from federal service. Worksheet and practical example are included more…
Choosing the Right Tax Filing Status
Ed Zurndorfer explains how your tax filing status can have consequences on your federal tax liability more…