do amounts an employees’ puts into IPERS – the Iowa Public Employees Retirement System — count towards the retirement savers credit? The short answer is no, because IPERS is a defined benefit plan, not a defined contribution plan — even though employees do make contributions to IPERS.
NOTE: I wrote this post in 2014, so be aware of its age. —– When I talk about the topic of salaries in sole proprietorships, I typically get confused looks from people. They run a sole proprietorship, they take money out of the business to live on or to reward themselves … that’s a salary, […]
An often overlooked charitable deduction is the deduction for mileage driven for charitable purposes. Taxpayers can take a deduction — 14 cents per mile (this amount is set by statute and is not adjusted for inflation, so it’s been 14 cents for many years) — for mileage driven in giving services to a charitable organization, […]