GoFundMe was created as a platform for individuals to bank roll their personal causes. Although there are several other crowdfunding platforms out there, they focus more on funding for the creation of a business entity or a tangible product. Unlike its predecessors, GoFundMe focused on making financing available for personal needs, such as medical expenses...
More taxpayers will qualify for retirement tax breaks in 2021, but the contribution limits for IRAs, 401(k)s, and other retirement accounts won’t go up for next year. Employees who are saving for retirement through 401(k)s, 403(b)s, most 457 plans, can contribute up to $19,500 to those plans during the year. Unfortunately, that's the same contribution limit...
Women are more vulnerable and less prepared for retirement than their male counterparts. Why are they at risk? Consider these sobering *statistics: • A woman with a bachelor’s degree has just 60% of the estimated lifetime earnings of her male counterpart. • Annual Social Security benefits collected by a 65-year-old woman are 20% less than...
The 4th quarter is the time to be thinking about what the next year’s tax bill might look like. It is getting harder for professionals and small business owners to minimize tax liability with itemized deductions for state and local taxes and mortgage interest deductions being whittled down. Could an additional pension deduction help you?...
The New York State Department of Taxation and Finance provided guidance regarding the tax treatment of deductions from employee wages used to finance paid family leave premiums, and the tax treatment of Paid Family Leave (PFL) benefits to be received by eligible employees. Background: Paid Family Leave Benefits, available to employees as of January 1, 2018,...
