by Fishman, Block + Diamond, LLP | Nov 9, 2021 | Tax
Oops, you overfunded your 529 plan Some might consider it a good problem to have – – saving too much money for college. But if the money is held in a Section 529 college savings plan, there could be tax consequences to overfunding the account. The taxman...
by Fishman, Block + Diamond, LLP | Nov 9, 2021 | Tax
When can you deduct business-related meals . . . and how much can you deduct? The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct any of...
by Fishman, Block + Diamond, LLP | Nov 9, 2021 | Tax
There’s a common misconception that, when you retire, your tax bills shrink, your tax returns become simpler and tax planning is a thing of the past. That may be true for some, but many people find that the combination of Social Security, pensions, and withdrawals...
by Fishman, Block + Diamond, LLP | Nov 9, 2021 | Payroll, Tax
Worker classification is still important In 2020 and 2021, many companies have experienced “workforce fluctuations.” If your business has engaged independent contractors to address staffing needs, be careful that these workers are properly classified for federal tax...
