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© Encore Partners LLP 2021 – all rights reserved
site design by digitalstoryteller.io
Maximize your 401(k) plan to save for retirement
/in News, Tax Tips - Business/by Betty KimContributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a substantial sum of money.
1099-NEC Replacing Form 1099-MISC
/in News, Tax Tips - Business/by Betty KimFor 2020 filings, there is a new and different form to fill out. The IRS will require Form 1099-NEC, Nonemployee Compensation to report non-employee compensation—Not Form 1099-MISC which was used for 2019 reporting.
Don’t forget about your FSA funds
/in News, Tax Tips - Business/by Betty KimMany employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs).