This column explains how RMDs will be calculated during 2021 for those individuals who are required to take them. Before presenting the general RMD calculation procedure, it is useful to review what an RMD actually is. Edward A. Zurndorfer The ... Read More

For Employees Born Between 1955 and 1959 and Receiving Social Security Retirement Benefits During 2021, Beware of the “Earnings Test” Edward A. Zurndorfer Social Security benefits are designed to replace a portion of the earnings an individual (and in some ... Read More

Ed Zurndorfer discusses these changes, as well as presenting automatic inflation adjustments to individual income tax brackets and other employee benefits thresholds and limits taking effect in 2021. During 2020, Congress passed two important pieces of tax-oriented legislation in response ... Read More

In this episode, Dan Sipe and Ed Zurndorfer have come up with a list of ten essential year-end planning tips. They improvise on some of the strategies from last year to adapt to the changes during 2020, and also provide ... Read More

While Gathering Documents to Prepare 2020 Income Tax Returns, Employees Are Reminded to Check Their Social Security Statements Edward A. Zurndorfer – Like individuals who work in private industry, nearly all federal employees will receive some form of Social Security ... Read More

Employees Who May Owe Significantly on Their 2020 Taxes Should Make An Estimated Tax Payment by January 15, 2021 Edward A. Zurndorfer Federal employees have federal and state income taxes regularly withheld from their paychecks. But many employees receive income ... Read More

In this episode, Dan Sipe and Ed Zurndorfer discuss how, with only a few days left in December, you can implement some last-minute tax-saving moves that can potentially save you a significant amount of money! Optimizing Your Tax Situation Don’t ... Read More

We celebrate the end of the year with our Top 5 “Most-Listened-To” Podcasts in 2020 5. Episode 23: Tax & TSP Talk Click Here to Listen 4. Episode 17: The Furlough Cheesecake Click Here to Listen 3. Episode 12: The ... Read More

Now is the Time for Employees to Choose 2021 TSP Contribution Amounts So As to Not Lose Agency TSP Matching Edward A. Zurndorfer Internal Revenue Code (IRC) Section 402 imposes a limit – the “elective deferral” limit – on the ... Read More

In the above, the IRAs being discussed are Traditional, not Roth IRAs. While it is just as legal to rollover money from a Roth IRA to an HSA, it makes little sense because Roth funds are already tax and penalty-free ... Read More