Ed Zurndorfer discusses Social Security widow/widower benefits including when and how a surviving spouse can receive a survivor benefit and how these benefits can assist the surviving spouse meet financial needs more…
Social Security and Children’s Benefits
In addition to retirement income, Social Security can also serve as a lifeline for children when one or both of a child’s parents retires, becomes disabled, or dies. Ed Zurndorfer discusses children’s Social Security benefits including which children are eligible, when these benefits are reduced and stop, and how parents can apply for them more…
How Social Security’s Earnings Test Can Affect Your Retirement Benefits
Ed Zurndorfer discusses how the Social Security earnings test affects individuals between age 62 and their full retirement age who are receiving their Social Security retirement benefits and who also have earned income. Practical examples are included more…
Recharacterization of Roth IRA Contributions
Some federal employees may have made contributions to their Roth IRAs when in fact they were not eligible to make these contributions. They therefore must recharacterize their Roth IRA contributions. Ed Zurndorfer discusses how to do it
Options for Those Unable to Pay Federal Income Tax Balance Due
Some federal employees and retirees discover they have a large federal income tax balance due they are unable to pay in full before the deadline. Ed Zurndorfer outlines the options including installment and online payment agreements with the IRS, and extensions of time to pay more…
Some Federal Employees, Retirees Should Be Aware of the Need to Pay Federal Estimated Taxes
Ed Zurndorfer discusses why some federal employees and retirees need to make quarterly estimated tax payments to the IRS. more…
Filing Requirements for Individuals Owning Foreign Bank and Financial Accounts
Ed Zurndorfer discusses discusses the Foreign Bank and Financial Account Report, including filing requirements, where on a federal income tax return an individual indicates where he or she may have an FBAR filing requirement, what is considered a foreign financial account, how the FBAR is filed, and penalties for not filing an FBAR more…
Coordinating TSP Withdrawals and Receipt of Social Security Retirement Benefits
Ed Zurndorfer discusses how to optimize a plan of when to start receiving Social Security retirement benefits and making Thrift Savings Plan withdrawals more…
Understanding the Child and Other Dependent Tax Credit
Many federal employees may not be aware that they could be eligible to claim on their federal income tax returns the Child Tax Credit (CTC) of up to $2,000 per qualifying child. discusses the CTC and the equivalent “other dependent” tax credit (ODC) more…
How Social Security’s Windfall Elimination Provision Affects Some Federal Retirees
Ed Zurndorfer explains how the WEP works, and who is affected by it. Practical examples are included more…