Accounting and Accountability

Episode 57: How will the Secure Act 2.0 Impact You?


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In this episode we discuss:

  • Worker Classification: The IRS is still taking a hard look at the distinction between an employee and a contractor. Make sure you've identified your workers correctly.
  • Passive Loss Rules: Know the rules of what you can claim from passive activities.
  • 1099K new filing rule, which was going to require the issuing limit to drop to $600 or more, has been suspended.
  • Omnibus Bill has been passed by Congress and is waiting the President's signature. Here details of how the Secure Act 2.0 will impact your tax situation.
    • Automatic enrollment in employee retirement plans.
    • New catch-up rules for retirement savings.
    • Matching Student Loan payments.

We also hear the story of "Dr." Malachi Love-Robinson. A 17 year-old who posed as a doctor and defrauded patients out of their money.

...more
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Accounting and AccountabilityBy Faw Casson

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