In this episode, Dan Sipe and Ed Zurndorfer discuss everything federal employees need to know regarding tax withdrawals to ensure you’re not leaving any money on the table.
FEDLIFE ep. 71: Understanding Tax Withdrawals Before Retiring from Federal Service
Whether you are a CSRS employee or a FERS employee, you have the option to get a refund on your tax contributions if you decide to leave Federal Service before retirement age.
However, once you decide you want to receive your tax contributions in a lump sum, do you understand all the terms and conditions that come with that decision?
In this episode, Dan Sipe and Ed Zurndorfer discuss everything federal employees need to know regarding tax withdrawals to ensure you’re not leaving any money on the table.
Dan and Ed discuss:
- Why you shouldn’t withdraw your tax contributions if decided to leave federal service early
- The three categories of FERS employees
- Taxation on a TSP Account
- The importance of consulting a Tax Advisor when taking money out of your IRA
- The four ways the IRS taxes your social security
- And More!
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“Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Lee, Sipe & Associates, Inc. is not a registered broker/dealer and is independent of Raymond James. Content represents the opinions of the speaker and not necessarily those of Raymond James. Important Disclosure Information: http://raymondjames.com/smicd.htm.
