Retirement tax withholding

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FERS retirees will have the task of tax withholding in retirement which is different than working years. There are three different income sources that could potentially have tax withheld - FERS annuity, Social Security and the TSP or other investments.

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Outstanding advice. Thanks for the Dinkytown referral, so straightforward. For 2024 you might want to remind your viewers to watch their interest income. Going from .04% to 4% or higher on CD’s can really smack you in the face 😳 at tax time if you’re not paying attention. Again, thank you so much for this! 🤗👏👏👏

Bc-wqrv
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Thank you for the recommendation on the Dinkytown 1040 calculator. I’ve been wondering how I will be able to calculate my taxes and retirement I have bookmarked it! Thank you!

sarahsunsetpark
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When you withdraw from a traditional TSP, they take 20% for taxes. If you withdraw enough from the TSP to cover your tax liability for the year, why not just withhold 0 from your pension since you're paying enough from your TSP withdrawals anyway?

smithb
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Nice video. Please what's the name of the site for the tax withholding calculations?

osiumeh
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Where would you put a spouse's salary? In income section?

generitaldato