Depreciation’s Tax Break Has Consequences
Property owners may love the tax deduction now, but when they sell the IRS may come knocking for what is due through “depreciation recapture.” Here’s how that works.
Understanding TSP Loans
One of the good points of the TSP plan is the ability to take loans. You can put money into your TSP, build up a decent value and if you need a loan for a primary home purchase or other reasons you can get a loan from your TSP account.
Don’t pay more taxes than you must!
The MSRRA changes the basic rules of taxation with respect to military spouses who earn income from services performed in a State in which the spouse is present with the Service member (SM) in compliance with military orders when that State is not the spouse's domicile (legal residence).
The Thrift Savings Plan (TSP) for Military Members
A large part of the new retirement plan is the Federal Thrift Savings Plan or TSP. Understanding some basic elements of the TSP will help you to navigate to a successful and prosperous retirement.