Ed Zurndorfer discusses IRS relief for IRA owners who initially had to take their first required minimum distribution during 2023 but as a result of a law change in late 2022 did not have to more…
How Part-Time Service Can Affect a FERS Employee’s Benefits – Part II
Ed Zurndorfer discusses the effect of FERS part-time employment on annual leave and sick leave accrual rates, the Thrift Savings Plan, and insurance benefits (health, life, dental and vision, and long-term care insurance). more…
How Part-Time Service Can Affect a FERS Employee’s Benefits – Part I
Ed Zurndorfer discusses the effect of part-time FERS employment on the FERS annuity and the FERS survivor annuity more…
How Retirement Can Affect Your Credit Score
The actions of scaling back one’s lifestyle in retirement and paying off existing loans such as mortgage can result in lower credit scores. Ed Zurndorfer provides tips on what retirees should do to keep their credit scores up more…
How to Leave Your Heirs an Inheritance, Not a Tax Bill
Under recent laws, it has become more difficult for federal employees to leave their retirement savings to their children and grandchildren. Ed Zurndorfer outlines considerations and questions for those planning their legacy for future generations more…
Understanding the Gift Tax Rules and Why They are Important – Part II
Ed Zurndorfer discusses the procedure of an individual’s lifetime giving and how lifetime giving may or may not lower taxes for the heirs of the individual’s estate more…
Understanding the Gift Tax Rules and Why They Are Important – Part I
Ed Zurndorfer outlines what constitutes a gift, the annual gift tax exemption, and gift tax returns. Several practical examples are provided more…
Is a Reverse Mortgage a Viable Option for Paying Long-Term Care Expenses?
Ed Zurndorfer discusses what a reverse mortgage is, how it works, its advantages and disadvantages, and how it can help employees and retirees pay the expenses associated with long-term care more…
6 Stealth Taxes That Can Affect a Federal Employee’s Retirement
A stealth tax is levied in a way that is largely unnoticed or not recognized as a traditional tax. Ed Zurndorfer explains how many of them do not kick in until retirement, why some are difficult to avoid, and how to prepare for them more…
How to Prepare for Financial Challenges When Retiring Overseas
Ed Zurndorfer discusses the financial challenge of a federal employee retiring overseas with respect to maintaining bank and retirement accounts, potential foreign and federal tax liabilities, health care options, and estate planning more…