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Taxes

Top 10% of Income Earners Pay 68.3% of All Federal Income Taxes

FedSmith.com author Ralph R. SmithBy Ralph R. SmithMay 5, 2014 3:44 PM Categories Federal Employee Pay News Leave a comment

Comments about taxes are often long on vitriol but short on facts. Here are the latest data from the IRS about which income groups pay the most in taxes as well as each group’s share of all income taxes paid.

2014 Tax Inflation Adjustments

By FedSmith.comNovember 1, 2013 3:12 PM Categories Current Events Leave a comment

For tax year 2014, the Internal Revenue Service has announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes.

Do You Understand the True Cost of Your Retirement Plan?

FedSmith.com author Carol SchmidlinBy Carol SchmidlinAugust 20, 2013 8:41 PM Categories Federal Employee Retirement Leave a comment

There are a number of factors that need to be taken into consideration when identifying your savings options for retirement. Cost is not the only consideration, but an important one since fees can seriously erode your earnings.

Taxes and Your Federal Retirement

FedSmith.com author Ralph R. SmithBy Ralph R. SmithJuly 29, 2013 7:01 PM Categories Federal Employee Retirement Leave a comment

Here are a few tips to consider in calculating your future retirement income as a federal employee.

Taxes and American Citizenship

FedSmith.com author Ralph R. SmithBy Ralph R. SmithJanuary 2, 2013 3:12 PM Categories Federal Employee Retirement Leave a comment

A famous French actor makes headlines by leaving his home country for a more hospitable economic climate. With a global economy, mobility is always a possibility. Are wealthy Americans leaving this country and will the trend increase with higher taxes?

How Much Do Americans Pay in Income Taxes?

FedSmith.com author Ian SmithBy Ian SmithDecember 3, 2012 1:04 PM Categories Current Events Leave a comment

A recent report by the Tax Foundation based on new IRS data found that the average federal tax rate for all taxpayers in 2010 rose slightly over the previous year.

Prepare for Tax Changes in 2013

FedSmith.com author Carol SchmidlinBy Carol SchmidlinAugust 24, 2012 6:34 AM Categories Federal Employee Pay News Leave a comment

Will the Bush era tax cuts be extended by Congress? Nobody knows, but regardless of what Congress does, the authors offer steps one can consider taking before year end to improve your personal finances.

South Carolina: Retirement Haven or Tax Trap?

FedSmith.com author Ian SmithBy Ian SmithFebruary 1, 2012 3:26 PM Categories Federal Employee Retirement Leave a comment

If you are at or nearing retirement in your federal career, you may be thinking of relocating to a new state. South Carolina is a state that often attracts newcomers with its mild weather, attractive cities, and lots or recreational activities, but look closely at the state’s income tax structure before taking the relocation plunge.

Grassley Amendment Would Ban Federal Grants to Tax Delinquents

FedSmith.com author Ralph R. SmithBy Ralph R. SmithJune 14, 2011 8:51 PM Categories Human Resources Leave a comment

Sen. Chuck Grassley (R-IA) has filed an amendment designed to prevent fraud and waste within federal grant programs.

Mistakes to Avoid with Roth Conversions

FedSmith.com author Carol SchmidlinBy Carol SchmidlinJune 1, 2011 7:34 AM Categories Federal Employee Retirement Leave a comment

Should you do a Roth conversion to take advantage of the current tax rates which may be lower now than they are likely to be in the future? It may be a good idea but check out the details before you take action as your tax bill may be higher than you think.

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September 20, 2023

Fund Last % YTD
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Get detailed TSP data at TSPDataCenter.com

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