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About Kushner & Company
In the ever-changing world of employee benefits, Kushner & Company is an acknowledged leader in the field. We provide comprehensive consulting and administrative services individualized to assure your specific benefit requirements are entirely fulfilled. Our specific service offerings encompass consulting, plan design and administration of a full range of plans such as health and welfare, retirement, executive benefits, and cafeteria and flexible spending accounts.
Since our founding in 1982, over one thousand organizations, three United States Presidents and numerous Congressional Committees have sought the expertise of Kushner & Company. By receiving no compensation from insurance companies, brokers or those who sell products, we offer you totally objective, unbiased recommendations. Our primary concern is to provide exceptional solutions that simplify your benefit-related responsibilities.
Pioneers in employee benefit consulting and administration, you can have complete confidence in Kushner & Company.
Latest Benefit Topics
| The New World of 403(b) Compliance: What Employers Must Do Now | HTML | Printable |
| By Gary Kushner, SPHR, CBP President, Kushner & Company | ||
| 2009 IRS HSA Limits Announced | HTML | Printable |
| By Gary Kushner, SPHR, CBP President, Kushner & Company | ||
| DOL Proposes New Small Retirement Plan Deposit Timeline | HTML | Printable |
| By Gary Kushner, SPHR, CBP President, Kushner & Company | ||
Gary Kushner's Benefits Blog
Latest Entry
Massachusetts to Tax Small Business Owners' 401(k)'s
In a remarkable reading of its statute, the Massachusetts Department of Revenue (DOR) has issued Directive 08-3 that will require all unincorporated business owners and partners who make either an elective deferral or receive a matching contribution in a qualified 401(k) plan to withhold state income tax.
Unless corrected by the state legislature, this short-sighted decision will cost the state and its residents dearly in the future. Since the taxation occurs currently, the future retiree distribution will not be taxable. Given the large number of state residents who will be affected by this interpretation (particularly baby boomers), the state will collect slightly more money today and substantially less money as retirement funds are withdrawn over the next 10 to 30 years.
Further, how many small business owners will establish plans for their employees knowing that they will be taxed on their own contributions by the state?
Hopefully, the Massachusetts legislature will figure this out shortly and correct its tax code. Read more >>>