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Author: David Fei, CFP®, ChFEBC℠, AIF®
Best Practices for Reporting Tax-Exempt Interest on Form 1040

Best Practices for Reporting Tax-Exempt Interest on Form 1040

Best Practices for Reporting Tax-Exempt Interest on Form 1040   Introduction Few moments in retirement planning cause as much confusion as tax time. While many retirees focus on their taxable income, they sometimes overlook the importance of reporting tax-exempt interest income on 1040. This oversight can lead to incorrect filings, IRS inquiries, and unexpected ripple effects on benefits like Social Security. Even if you’re a federal or military employee with decades of service, properly documenting tax-exempt income can be crucial

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Federal Employee Raise Guide: Key Updates for 2025

Federal Employee Raise Guide: Key Updates for 2025

Federal Employee Raise Guide: Key Updates for 2025   Introduction Every new year brings anticipation for the federal employee pay raise, and 2025 is no exception. While the percentage change on your paycheck may not sound dramatic, it can have a lasting impact on your retirement strategies, your Thrift Savings Plan (TSP) contributions, and your career decisions. In 2025, federal employees will see a smaller average increase of 2% compared to the more substantial jumps in recent years. However, understanding

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FERS Supplement Unveiled: Your Bridge to Social Security

FERS Supplement Unveiled: Your Bridge to Social Security

FERS Supplement Unveiled: Your Bridge to Social Security Imagine you’ve dedicated decades of service to our country—whether in a federal agency or in one of the uniformed services. As retirement nears, one dilemma might eclipse the excitement: How do you sustain your lifestyle until Social Security kicks in? The FERS Supplement, also known as the Special Retirement Supplement (SRS), offers a vital bridge, helping you retire with confidence before you reach the age for Social Security benefits. Understanding how it

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TSP Essentials: Unlock the Secrets to Mastering Your Federal Retirement Account

TSP Essentials: Mastering Your Federal Retirement Account

TSP Essentials: Mastering Your Federal Retirement Account For federal employees and uniformed service members, the Thrift Savings Plan (TSP) often becomes the cornerstone of a well-orchestrated retirement strategy. Beyond the familiar elements of government pensions and Social Security, the TSP grants you an opportunity to enhance your retirement savings. Yet, many people—especially those already 55 or older—wonder if it’s too late to optimize their approach. The good news: It’s never too late. By understanding your TSP inside and out, you

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2025 IRMAA Brackets: Discover New Medicare Premium Thresholds

2025 IRMAA Brackets: Discover New Medicare Premium Thresholds

2025 IRMAA Brackets: Discover New Medicare Premium Thresholds   Introduction   Have you noticed how healthcare expenses seem to keep creeping up just when you’re planning to step away from the workforce? If you’re a federal or military employee approaching retirement, or already retired, understanding how your Medicare costs can increase is vitally important. One of the most commonly overlooked factors affecting Medicare premiums is IRMAA (Income-Related Monthly Adjustment Amount). In 2025, IRMAA will enter a new set of brackets

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TSPTalk Expert Strategies: Boost Your Returns with C Fund and G Fund Insights

TSPTalk Expert Strategies: Boost Your Returns with C Fund and G Fund Insights

TSPTalk Expert Strategies: Boost Your Returns with C Fund and G Fund Insights For many federal and military employees approaching retirement age, the Thrift Savings Plan (TSP) represents a cornerstone of their future financial security. Yet, determining how to strike the right balance between growth potential and stability can feel daunting, especially when evaluating options like the C Fund and the G Fund. Both are vital corners of the TSP universe, each with distinct roles in building a resilient retirement

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Has Your Federal Raise Kept Up? Analyzing the 2025 Employee COLA

Has Your Federal Raise Kept Up? Analyzing the 2025 Employee COLA Many federal employees approach retirement expecting that each year’s pay increase will keep them on track with the cost of living. However, when the inflation numbers come in higher than your raise, you might find that your paycheck doesn’t stretch quite as far as it used to. If you’re wondering whether the 2025 cost of living increase for employees will carry you comfortably into your golden years, it’s time

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Comprehensive CSRS Retirement Benefits Guide for Federal Workers

Comprehensive CSRS Retirement Benefits Guide for Federal Workers For federal employees who have been in the workforce long enough to remember the Civil Service Retirement System (CSRS), it remains a tried-and-true pillar of retirement security. Established in 1920, CSRS served as the government’s primary pension system until the Federal Employees Retirement System (FERS) emerged in 1987. While only about 1.6% of active federal employees are still covered under CSRS today, those who remain can enjoy significant advantages when planning their

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