December 27, 2022
Many self-employed individuals are eligible to make annual contributions to Roth IRAs, despite having healthy earnings from their businesses. But some haven’t yet taken advantage of this retirement saving strategy. Making annual Roth contributions can have a big upside by allowing… Read more »
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401(k), Adjusted Gross Income, AGI, Are You Missing the Roth IRA Boat?, common misconceptions, Contributions, Contributions to Roth IRAs, Deductible vs. Nondeductible, Income Restrictions, individuals, IRA, MAGI phase-out range, maximum deductible SEP, Need Help, Roth IRA, Roth IRA Basics, self-employed, self-employed individuals, SEP, simplified employee pension, tax benefits of contributing to a Roth IRA, The Truth about Income Restrictions, Traditional IRA
October 25, 2022
It’s time for year-end tax planning. Every fall, small business owners should review their tax situations to determine steps they should consider to reduce their federal income taxes for the current year — and beyond. Fortunately, no significant unfavorable federal tax… Read more »
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100% First-Year Bonus Depreciation for Last-Minute Asset Additions, 401(k), businesses using a pass-through entity, Defined Benefit Pension Plans, Heavy SUV, How Can Small Business Owners Lower Taxes for 2022, Jobs Act (TCJA), Pickup or Van Write-Offs, publicly traded partnerships, QBI Deductions, qualified business income, REIT dividends, SECURE Act, self-employed, SEP-IRA, SIMPLE-IRAs, Small Business Tax Law Changes under the IRA, Tax-Favored Retirement Plans, Timing of Business Income and Deductions, Year-End Tax Planning