Tackle your credit card debt by paying 0% interest for up to 21 months
The IRS’ online tool makes it easy for both employees and retirees to determine if they are having too little or too much federal tax withheld more…
Recent Articles
Coordinating TSP Withdrawals and Receipt of Social Security Retirement Benefits
Ed Zurndorfer discusses how to optimize a plan of when to start receiving Social Security retirement benefits and making Thrift Savings Plan withdrawals 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…
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…
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 more…
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 more…