{"id":50,"date":"2008-07-03T11:58:01","date_gmt":"2008-07-03T15:58:01","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=50"},"modified":"2008-07-10T19:18:22","modified_gmt":"2008-07-10T23:18:22","slug":"massachusetts-disallows-401k-deductions-for-some-taxpayers","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2008\/07\/massachusetts-disallows-401k-deductions-for-some-taxpayers\/","title":{"rendered":"Massachusetts Disallows 401(k) Deductions for Some Taxpayers"},"content":{"rendered":"<div><span style=\"font-size: 12pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\"><span style=\"font-size: 7.5pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\"><span style=\"font-size: 10pt; color: #000000; font-family: Verdana;\">The Massachusetts Department of Revenue (DOR) has clarified its position on the deductibility of 401(k) contributions. In <a href=\"http:\/\/www.mass.gov\/?pageID=dorterminal&amp;L=7&amp;L0=Home&amp;L1=Businesses&amp;L2=Help+%26+Resources&amp;L3=Legal+Library&amp;L4=Directives&amp;L5=Directives+-+By+Decade&amp;L6=(2000-2009)+Directives&amp;sid=Ador&amp;b=terminalcontent&amp;f=dor_rul_reg_dir_dir_08_3&amp;csid=Ador\" target=\"_blank\"><span style=\"color: #800080;\">Income Tax Directive 08-3<\/span><\/a>, effective for 2008 and later years, the DOR denied deductions for 401(k) contributions for partners and self-employed individuals, whether\u00a0the contributions are elective or matching. This is in direct conflict with and supersedes earlier DOR positions that explicitly allowed partners and self-employed individuals a deduction for elective contributions to 401(k) plans.<\/span><\/span><\/span><\/div>\n<div><span style=\"font-size: 12pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\"><span style=\"font-size: 7.5pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">\u00a0<\/span><\/span><\/div>\n<p><span style=\"font-size: 12pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\"><span style=\"font-size: 7.5pt; color: #000000; font-family: Verdana; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">\u00a0<\/p>\n<p><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Massachusetts Department of Revenue (DOR) has clarified its position on the deductibility of 401(k) contributions. In Income Tax Directive 08-3, effective for 2008 and later years, the DOR denied deductions for 401(k) contributions for partners and self-employed individuals, whether\u00a0the contributions are elective or matching. This is in direct conflict with and supersedes earlier DOR [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[10,27,13,11,12],"_links":{"self":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/50"}],"collection":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/comments?post=50"}],"version-history":[{"count":0,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/50\/revisions"}],"wp:attachment":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/media?parent=50"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/categories?post=50"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/tags?post=50"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}