Tag: Taxes

Hatch Drops Catch-Up Contributions Amendment from Senate Tax Bill

By on November 16, 2017 in Pay & Benefits with 0 Comments
Hatch Drops Catch-Up Contributions Amendment from Senate Tax Bill

An amendment to the Senate’s tax reform bill that had the potential to impact federal employees who invest in the TSP has been taken off the table.

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Proposed Amendment Would Eliminate Current TSP Catch Up Contributions

By on November 13, 2017 in Pay & Benefits, Retirement with 0 Comments
Proposed Amendment Would Eliminate Current TSP Catch Up Contributions

A proposed amendment to the Senate’s tax reform bill would eliminate current retirement savings catch-up contributions.

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Senate Unveils Tax Proposal; House Tax Bill Advances

By on November 9, 2017 in Pay & Benefits with 0 Comments
Senate Unveils Tax Proposal; House Tax Bill Advances

Senate Republicans unveiled their version of a tax reform bill as the House advanced its tax reform plan.

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No Changes to 401(k) Contributions in Republican Tax Plan

By on November 2, 2017 in Pay & Benefits with 0 Comments
No Changes to 401(k) Contributions in Republican Tax Plan

Republicans have unveiled their tax cut proposal, one which consolidates individual income tax brackets and leaves retirement plan contribution limits untouched.

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Double Taxation of Social Security

By on October 16, 2017 in Retirement with 0 Comments
Double Taxation of Social Security

The author says that what he describes as double taxation of Social Security benefits is unfair, but Congress has little option to address the situation.

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Should Social Security Benefits Be Taxed?

By on September 26, 2017 in Retirement with 0 Comments
Should Social Security Benefits Be Taxed?

One Congressman wants to eliminate income taxes on Social Security benefits paid to Americans in retirement.

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Taxes You Will Face in Retirement

on July 13, 2017 in Retirement with 0 Comments
Retirees face new tax issues when they stop working (or start working part-time) despite having probably having a lower income than they did during their working years.

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Legislation Reintroduced to Give Tax Credit to Federal Employees Serving in Combat Zones

By on June 19, 2017 in Pay & Benefits with 0 Comments
Legislation Reintroduced to Give Tax Credit to Federal Employees Serving in Combat Zones

Legislation has been introduced to give the same tax credit to federal employees that military personnel get when working in a combat zone.

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States That Tax Your Federal Government Pension the Most

on May 17, 2017 in Retirement with 0 Comments
When evaluating retirement destinations, avoiding the states that do tax federal government pensions could save a federal retiree thousands of dollars in state taxes every year throughout retirement. These are some of the worst offenders.

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Watch Out for this Medicare Part B Trap

By on May 9, 2017 in Retirement with 0 Comments
Watch Out for this Medicare Part B Trap

If your income is high enough, your Medicare Part B premiums could potentially triple. The author explains what to watch for.

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