New Solo 401(k) Rules for 2025: What You Need to Know
If you’re self-employed or a small business owner, the latest updates to Solo 401(k) plans could impact your r...
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💸 Scammed in 2024? You might still be able to deduct the loss—but only in specific cases.
According to new data from the Federal Trade Commission, consumers lost over $12.5 billion to fraud in 2024. I...
Major tax reform is on the horizon, and many can face uncertainty with respect to their current and future tax planning. Some of the proposed upcoming changes are as follows:
Major tax reform is on the horizon, and your clients are facing unprecedented uncertainty about their t...
If you’re part of a multimember LLC taxed as a partnership (or a traditional partnership), you might occasionally pay out-of-pocket for items like travel, meals, car expenses, continuing education, professional dues, or even home office costs.
You generally have two paths to take these items as deductions:
• Reimbursement: If your LLC or partnership...
Triple Tax Advantages: Reimburse Your Employee-Spouse for Health Insurance
Are you a self-employed business owner or a single-member LLC with your spouse as your only eligible employee?...
Understanding Taxable Events in Crypto Transactions
There are several scenarios in the crypto space where a taxable event is likely to occur. Some examples includ...
Figuring Decline in FMV
Determining the decline of a property’s FMV due to a disaster can be the most complicated part of the casualty...
Penalty-Free Withdrawals from Retirement Accounts
As a result of the Secure 2.0 Act passed in 2022, taxpayers may make penalty-free withdrawals from theirretire...
🚨 Will Congress Fix R&D Expensing in 2025? 🚨
Businesses investing in R&D have been struggling since 2022, when full expensing was replaced with mandato...
Best Retirement Plan Options for Solo-Owned S Corporations
As a solo business owner operating under an S corporation, you have access to some powerful retirement plan op...