Ed Zurndorfer discusses the tax savings when HSA distributions are made to pay medical expenses, including which expenses are qualified, IRS reporting requirements, and state tax treatment. Tax-free HSA distributions include both the HSA contributions and accrued earnings within the HSA.
IRA Contributions: Types of IRAs, Eligibility Rules and Contribution Limits
Ed Zurndorfer outlines the different types of IRAs and eligibility rules for contributions including deductible traditional IRAs, nondeductible traditional IRAs, and Roth IRAs. Practical examples are included
Reaping Tax Benefits from Health Savings Account Contributions
Ed Zurndorfer explains the eligibility rules of an HSA, contribution limits and guidance, and the tax-saving opportunities for federal employees
10 Important Actions for Federal Employees Planning to Retire
Your retirement date often comes sooner than you may have had a chance to fully prepare. Ed Zurndorfer outlines the most common areas that need to be addressed by federal employees who plan to retire within the next few years
10 Thrift Savings Plan Mistakes Federal Employees Should Avoid
Federal benefits expert Ed Zurndorfer discusses common mistakes to avoid when investing in the TSP in order to maximize growth and preserve your savings throughout your retirement years
10 Costly TSP and IRA Rollover Errors Federal Employees and Retirees Should Avoid
Many Thrift Savings Plan participants who own traditional IRAs and Roth IRAs choose at some time to rollover their TSP account and/or IRAs. While a rollover does not have to be a stressful experience, rollover errors can be costly. Ed Zurndorfer discusses how federal employees and retirees can avoid ten of the costliest mistakes
Maximizing Social Security Benefits and the ‘Deemed Filing’ Rule
Many individuals preparing to claim Social Security retirement benefits are not aware of the Social Security “deemed filing” rule. Ed Zurndorfer explains it, and provides suggestions for married couples in which both spouses are eligible for a Social Security monthly retirement benefit as to how maximize their lifetime benefits
TSP and IRA Tax-Planning Moves for Federal Employees and Retirees
The stock market reached all-time highs during 2023. While that is encouraging news for TSP participants and IRA owners, Ed Zurndorfer suggests some tax-planning moves that federal employees and retirees should consider, including required minimum distributions (RMDs), Roth IRA conversions, and charitable distributions
Understanding the CSRS Voluntary Contribution Program
Ed Zurndorfer discusses the CSRS Voluntary Contribution Program including an overview, CSRS/CSRS Offset employee eligibility requirements, filing an application, contributions and how they are made, limits on contributions, and withdrawal options
Medicare General Enrollment Period: What Are the Implications for Federal Retirees?
Most individuals find the Medicare enrollment process to be confusing. Ed Zurndorfer reviews the four Medicare enrollment periods, and how they apply to most federal employees and retirees when they become first eligible to enroll at age 65. Practical examples are included