Ed Zurndorfer explains how the WEP works, and who is affected by it. Practical examples are included more…
Latest Articles
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…
10 Important Actions for Federal Employees Planning to Retire
Your retirement date often comes sooner than you may have had a chance to fully prepare. Ed Zurndorfer outlines the most common areas that need to be addressed by federal employees who plan to retire within the next few years more…
10 Thrift Savings Plan Mistakes Federal Employees Should Avoid
Federal benefits expert Ed Zurndorfer discusses common mistakes to avoid when investing in the TSP in order to maximize growth and preserve your savings throughout your retirement years more…
Proposed Legislation Would Repeal Social Security Tax
In a recent survey, during the 2023 tax season, 23 percent of those who received Social Security for three years or more said they paid tax for the first time more…
10 Costly TSP and IRA Rollover Errors Federal Employees and Retirees Should Avoid
Many Thrift Savings Plan participants who own traditional IRAs and Roth IRAs choose at some time to rollover their TSP account and/or IRAs. While a rollover does not have to be a stressful experience, rollover errors can be costly. Ed Zurndorfer discusses how federal employees and retirees can avoid ten of the costliest mistakes more…