Learn why thousands of federal employees and retirees are protecting their their retirement savings from inflation and economic uncertainty.
Federal benefits and tax expert, Ed Zurndorfer, explains that while the dependency exemption deduction was repealed in the 2017 tax law, the tax dependency test is still important for other tax credits and deductions more…
TSP Participants Should Carefully Examine 2020 Form 1099-R Statements
Federal benefits expert, Ed Zurndorfer, explains why some are receiving a Form 1099-R for 2020 as a result of the COVID-19 pandemic and how the information will be included on the TSP participant’s 2020 federal income tax return more…
Recharacterizing IRA Contributions Are Still Permissible Under Current Tax Law
Federal benefits and tax expert, Ed Zurndorfer, discusses what a recharacterization is, and how it can benefit federal employees and annuitants who may have contributed to the wrong type of IRA for the year 2020 more…
Federal Employees Should Check W-2 Forms for Elective Deferrals in 2020
Did you contribute to more than one defined contribution plan in 2020 (such as the TSP, 401(k) and 403(b) plans)? Federal benefit expert, Ed Zurndorfer, discusses what a federal employee has to do if they exceed the $19,500 contribution limit for 2020 more…
Many Federal Employees Need to Pay Back Deferred Payroll Taxes Starting January 2021
Federal benefits expert, Ed Zurndorfer, explains how the new payback timeline will work, and outlines what actions federal employees should take more…
Checklist for Federal Employees Retiring in Late December or Early January
Federal retirement expert, Ed Zurndorfer, outlines actions that FERS-covered employees retiring in late December 2020 or CSRS/CSRS Offset-covered employees retiring in early January 2021 should consider performing to make sure their transition into retirement is as financially beneficial and smooth as possible more…
How CARES Act Expanded Ways Individuals Can Deduct Charitable Contributions in 2020
Federal tax expert, Ed Zurndorfer, outlines the provisions this year that allow all individuals to make qualifying charitable contributions for 2020 (even in cases when they don’t itemize deductions) more…
How Tax Loss ‘Harvesting’ During December Can Help Reduce 2020 Taxes
Federal benefits and tax expert, Ed Zurndorfer, explains how tax harvesting works — and why it can be particularly useful during December when individuals are looking for ways to save on current year income taxes more…
Considerations for Roth IRA Conversion / Traditional TSP Transfer in December 2020
Federal benefits expert, Ed Zurndorfer, discusses why the last month of 2020 may be a good time for federal employees to consider converting a traditional IRA to a Roth IRA — or federal retirees (or employees age 59.5 and older) transferring a portion of their traditional TSP to a Roth IRA more…
Paid Parental Leave for Federal Employees Becomes Law
Federal benefits expert, Ed Zurndorfer, outlines the provisions of the Family and Medical Leave Act (FMLA) for federal civilian employees more…