Why the TSP Only Gives You 80% of Your Money
Federal employees will likely have taxes withheld from their TSP withdrawals at retirement. This is a summary of what to expect.
Taxes
Stay informed on tax rules and implications affecting federal employees and retirees, including guidance on taxes for FERS and CSRS annuities, Social Security taxation, TSP withdrawals, and retirement income planning. Explore updates on IRS regulations, withholding rules, state tax considerations, and policy changes that influence how federal retirement benefits are taxed. Find clear explanations and practical insights to help federal employees understand how different income sources are treated and how tax changes may impact their financial planning.
2021 Tax Updates That Should Be on Your Radar
A number of tax proposals could impact your financial planning. This is a summary of some under consideration.
Examining the TSP as an Income Stream
How your TSP produces income during retirement largely depends on the tax status of your TSP account.
Marginal vs. Effective Tax Rates — How Are They Different?
What are the differences between marginal and effective tax rates, and how do they impact how much you will have to pay in taxes?
Is Social Security Taxed in Your State?
Are there any states that tax Social Security benefits? A new report provides important information for retirees.
Here’s How to Take Early TSP Withdrawals Without a Penalty
Early TSP withdrawals are generally penalized, but there are some instances where it can be done without the extra penalty.
How to Double Your TSP Account
These are some planning tips to help maximize the growth of your TSP account over the course of your federal career.
5 Strategies to Reduce Your 2020 Tax Bill
Want to reduce your 2020 taxes? These are a few last minute strategies that can help.
Welcome Back RMDs. We’ve Missed You!
RMDs were suspended in 2020 under the CARES Act, but we now go back to normal RMD rules in 2021.
Legislation Reintroduced to Target Tax Delinquent Federal Employees
Another legislative effort is being made to target federal employees with seriously delinquent tax debts.
