Under the SECURE Act, small businesses can receive a tax credit for the first 3 years for implementing a retirement plan. For taxable years beginning 1/1/20 and beyond, employers with fewer than 100 employees who implement a retirement plan could be eligible for a credit up to $5,000. Previously this credit was capped at $500. […]
The recently passed SECURE act allows families to withdraw up to $10,000 tax-free for payments towards qualified education loans. However, when student loan interest is paid via 529 plan distribution, the interest is not eligible for the student loan interest deduction.