Ed Zurndorfer discusses the withdrawal option of Thrift Savings Plan payments for separated participants based on life expectancy. Includes an in-depth example more…
Some May Have Received Incorrect RMD Notices in Early 2023
Ed Zurndorfer explains how the incorrect required minimum distribution notices stated that traditional IRA owners have to take their first traditional RMD for 2023, when in fact they do not have to more…
TSP Withdrawals Fixed Payment Option
There have been numerous changes to the Thrift Savings Plan including withdrawal options. Ed Zurndorfer discusses the various withdrawal methods for separated TSP participants including the fixed dollar amount option more…
How to Use the ‘Backdoor’ Strategy to Contribute to a Roth IRA
The backdoor Roth IRA strategy allows individuals to move funds into a Roth IRA even if they do not qualify to contribute to a Roth IRA because their income exceeds the allowable limits. Ed Zurndorfer discusses how the this strategy works — and how it can benefit some federal employees more…
Understanding the Rules for Deducting Home Mortgage Interest
Ed Zurndorfer explains the home mortgage interest deduction and its limitations — plus how Tax Cuts and Jobs Act of 2017 (TCJA) resulted in significant changes to this deduction more…
Some Face First Traditional IRA Required Minimum Distribution
Ed Zurndorfer discusses what a traditional IRA RMD is, how the RMD is calculated, and the IRS penalty for not making a timely RMD more…
Federal Retirement Planning Checklist for Retiring in 5-10 Years
The last 5-10 years of a federal employee’s service represents a critical period if the employee intends to retire at the time he or she wants and with sufficient pension income and benefits that will last throughout the employee’s retirement years. Ed Zurndorfer provides a general checklist for soon-to-be retirees more…
The Importance of Keeping Your Personnel File Up-to-Date
Learn why an employee’s OPF is vitally important — including for retirement purposes — and how federal employees can get a copy of their OPF and make changes in case of errors or omissions more…
Choosing Between Standard Deduction and Itemizing Deductions
Ed Zurndorfer discusses some important considerations for using the standard deduction — or itemizing deductions — when filing federal income taxes more…
Understanding the Capital Gain Tax Rules When Selling a Primary Personal Residence
Real estate sales during 2022 decreased compared to sales in previous years. Ed Zurndorfer explains why it is important for federal employees and retirees — who may have sold their principal residence during 2022 — to review the IRS rules regarding the sale of a principal residence more…