Government Executive · 27dTaxes and the TSP
With many federal employees unexpectedly losing their jobs, now is a good time to review some essential tax rules.
News
Government Executive · 27dGovernment Executive · 19hDon’t get stuck with a tax bill in retirement: The federal retiree's guide to tax withholding
While tax withholding is automatic while working, retirees face the responsibility of ensuring their income is withheld for federal and state taxes. With that in mind, here are some options to be aware of.
How Much Tax Do You Pay on a Roth IRA Conversion?
A Roth IRA can offer a powerful tax advantage for retirement savers: tax-free withdrawals during retirement ... when your income is lower. How To Calculate the Taxes on a Roth Conversion Here ...
Ask Bob: Do I Qualify For a TSP Hardship Withdrawal?
To qualify for a hardship withdrawal ... If you are under age 59 1/2, your TSP distribution will be subject to a 10% penalty, you will owe income tax on such a distribution, and the TSP has ...
Ask Bob: Should I Take a Financial Hardship Withdrawal from My Thrift Savings Plan?
The amount you withdraw from your Thrift Savings account for a financial hardship must be limited to your financial need. I have tried several times to refinance a $70,000 loan but once they find ...