Recently Asked: Federal Firefighter Overtime Deduction Under PL 119-21
Were you paid an overtime premium, and why? That's the question. Here's the framework for understanding what qualifies—and what to discuss with your tax pro.
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Tax Planning Strategies & Updates
Your 2025 W-2 Is Out—And There's No Overtime Reported. Here's What to Do.
DFAS released 2025 W-2s with no qualified overtime reported. There's no Box 12 code TT for 2025—that starts in 2026. Here's how to calculate your deduction and what the new reporting means for next year.
Read Full Article →DFAS Overtime Reporting is Confusing: Why Federal Firefighters Are Owed More Than What's Shown
DFAS isn't required to report your full qualified overtime for 2025. Learn why YOU are responsible for calculating your in-tour 7(k) overtime deduction.
Read Full Article →Trump Accounts for Kids: Grab the Free $1,000, Then Move On
If you've got a kid born between 2025 and 2028, the government will give you $1,000 for free. Should you take it? Yes. Should you dump more money into it? Probably not. Here's why custodial accounts are likely a better bet.
Read Full Article →The Pump Panel Approach to Tax Planning: Why I Don't Push All-Roth
Why I don't push clients toward all-Roth or all-Traditional accounts. Learn the pump panel approach to tax planning using three tax baskets for financial flexibility when tax laws inevitably change.
Read Full Article →TSP Roth In-Plan Conversions Coming in 2026: The Good, the Bad, and What to Consider
Starting January 2026, TSP participants can convert traditional balances to Roth without leaving the plan. Learn the benefits, drawbacks, and critical tax considerations before you convert.
Read Full Article →IRS Dirty Dozen 2025: The 12 Tax Scams Targeting You This Filing Season
From TikTok tax advice to ghost preparers, the IRS releases its annual list of the most dangerous tax scams. Learn which scams are targeting military families, landlords, and small business owners—and how to protect yourself.
Read Full Article →IRS Issues New Guidance on Federal Firefighter Overtime Deduction: Here's What You Need to Know
The IRS released Notice 25-69 confirming federal firefighters can divide total overtime pay by 3 to calculate their qualified deduction. Learn the calculation method, documentation requirements, and how to save over $1,000 in taxes for 2025.
Read Full Article →Is the Market Overvalued? Three Indicators Say Yes—And Why You Should Care About Your Portfolio Draw Date
The Shiller PE is at 40, the Buffett Indicator shows 230%, and gold is surging to record highs. Learn what three major valuation indicators are telling us about the market, what Warren Buffett just did with $4.9 billion, and why your Portfolio Draw Date matters more than any of these metrics.
Read Full Article →Three Simple Steps to Protect Your Finances Online (That Most People Skip)
Americans lost $12.5 billion to scams and fraud in 2023—a 14% increase from the previous year. Learn three essential, free strategies that can dramatically reduce your risk of becoming a victim: using credit cards online, freezing your credit, and monitoring your IRS transcripts.
Read Full Article →2026 TSP Contribution Limits Increase: What Military Members and Federal Employees Need to Know
The IRS announced that TSP contribution limits are increasing to $24,500 for 2026. Learn how to calculate your contribution percentage for military or per-pay-period amount for federal civilians to maximize your retirement savings and get the full employer match.
Read Full Article →Why I Believe Federal Firefighters Can Deduct Their Overtime Premium
A significant new tax law, the One Big Beautiful Bill Act (OBBBA), has introduced a potential tax deduction for overtime income that could benefit federal firefighters and other federal employees. The tax savings can be substantial—potentially over $1,700 per year for many federal firefighters.
Read Full Article →What is Tax-Gain Harvesting?
In the world of investing, we often hear about "tax-loss harvesting," but there's another powerful strategy that many investors overlook: tax-gain harvesting. Learn how to pay 0% tax on investment gains during low-income years, especially beneficial for military members with CZTE and early retirees.
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