Chris Kowalik presents how not to let short-sighted decisions ruin your big day. Your retirement date affects your pension, leave, and other benefits — as well as income taxes more…
Recent Articles
2025 Federal Retiree COLA Watch – FERS / CSRS / Social Security
Follow the trend for the 2025 cost-of-living adjustment for those under the Civil Service Retirement System and the Federal Employees Retirement System. The 2024 federal retiree COLA was announced in October… more…
2025 Federal Pay Raise of 2% Proposed in White House Budget
If implemented, this would be the smallest pay raise in the last 3 years. Some House and Senate Democrats are proposing a 7.4% increase for 2025. 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…
Latest Thrift Savings Plan (TSP) Returns: Monthly and Annual
View the latest Thrift Savings Plan returns of the G, F, C, S, I and L funds more…
US Series I Savings Bonds: How to Purchase, Interest Paid & Taxation
Ed Zurndorfer discusses the the tax consequences of the record I bond redemption during 2023, and reviews the basics of I bonds including how they are purchased, interest paid, and when I bonds mature. more…
What Is Considered Income for Federal Income Tax Reporting Purposes?
Ed Zurndorfer guides federal employees and retirees in examining the various types of income that are reported on an individual’s federal income tax return including retirement benefits and Social Security more…
Tax Savings of Health Savings Account Distributions to Pay Medical Expenses
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. more…
2025 COLA Estimate Less Than 2%
Analysts estimate the 2025 cost-of-living adjustment for retirees will be about 1.75%, and say seniors are concerned that expenses continue to rise faster than COLAs more…