Have You Checked Your Tax Withholding This Year?
My Federal Retirement
by My Federal Retirement
1d ago
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... The post Have You Checked Your Tax Withholding This Year? appeared first on www.myfederalretirement.com ..read more
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Coordinating TSP Withdrawals and Receipt of Social Security Retirement Benefits
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
5d ago
Ed Zurndorfer discusses how to optimize a plan of when to start receiving Social Security retirement benefits and making Thrift Savings Plan withdrawals more... The post Coordinating TSP Withdrawals and Receipt of Social Security Retirement Benefits appeared first on www.myfederalretirement.com ..read more
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Foreign Tax Credit: How it Works and Who Can Claim It
My Federal Retirement
by My Federal Retirement
1w ago
The foreign tax credit is an IRS tax break that offsets tax paid to other countries. Ed Zurndorfer explains how some federal employees may qualify for it, and the IRS reporting requirements more... The post Foreign Tax Credit: How it Works and Who Can Claim It appeared first on www.myfederalretirement.com ..read more
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Choosing the ‘Perfect’ Day to Retire
My Federal Retirement
by Chris Kowalik
2w ago
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... The post Choosing the ‘Perfect’ Day to Retire appeared first on www.myfederalretirement.com ..read more
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Understanding the Child and Other Dependent Tax Credit
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
2w ago
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... The post Understanding the Child and Other Dependent Tax Credit appeared first on www.myfederalretirement.com ..read more
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How Social Security’s Windfall Elimination Provision Affects Some Federal Retirees
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
2w ago
Ed Zurndorfer explains how the WEP works, and who is affected by it. Practical examples are included more... The post How Social Security’s Windfall Elimination Provision Affects Some Federal Retirees appeared first on www.myfederalretirement.com ..read more
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Choosing the ‘Perfect’ Day to Retire
My Federal Retirement
by My Federal Retirement
2w ago
Chris Kowalik outlines five key elements of your approach to retirement -- and how to win your game strategy more... The post Choosing the ‘Perfect’ Day to Retire appeared first on www.myfederalretirement.com ..read more
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US Series I Savings Bonds: How to Purchase, Interest Paid & Taxation
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
3w ago
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... The post US Series I Savings Bonds: How to Purchase, Interest Paid & Taxation appeared first on www.myfederalretirement.com ..read more
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What Is Considered Income for Federal Income Tax Reporting Purposes?
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
3w ago
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... The post What Is Considered Income for Federal Income Tax Reporting Purposes? appeared first on www.myfederalretirement.com ..read more
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Tax Savings of Health Savings Account Distributions to Pay Medical Expenses
My Federal Retirement
by Edward A. Zurndorfer, Certified Financial Planner
1M ago
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... The post Tax Savings of Health Savings Account Distributions to Pay Medical Expenses appeared first on www.myfederalretirement.com ..read more
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