“QCD with IRA Checking Account—Easy, but Beware” To get my complete articlewith all the details… If you're over 70½ and taking required minimum distributions (RMDs) from your traditional IRA, you’ve probably heard of the qualified charitable distribution (QCD) strategy—a smart way to donate to charity while reducing your taxable income. What you may not know is … [Read more...]
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Don’t Let the Excess Business Loss Rule Catch You Off Guard
“Navigating Excess Business Loss Limits:What You Need to Know” To get my complete articlewith all the details… If your business saw a loss, the Tax Cuts and Jobs Act (TCJA) and subsequent tax law changes could limit your ability to deduct that loss on your tax return. In our new article, Navigating Excess Business Loss Limits: What You Need to Know, we break … [Read more...]
Statutory Employees: The Weird Tax Rule You Need to Know
“Tax Code–Defined Statutory EmployeesAre Hybrid Self-Employed” To get my complete articlewith all the details… Are You Accidentally Overpaying Payroll Taxes? You’ve probably heard the term statutory employee—but do you really know what it means? Here’s the kicker: a statutory employee isn’t your average employee. They’re a unique hybrid created by the tax … [Read more...]
Avoid a 7% Estimated Tax Penalty (or Worse) — Here’s How
“Don't Let the IRS Penalize Youfor Missing an Estimated Tax Deadline” To get my complete articlewith all the details… The IRS won’t send you a reminder—but it will send you a penalty. Miss just one of the quarterly estimated tax deadlines, and you could owe a 7% penalty (or more). For high earners, the true cost can hit over 11% thanks to non-deductibility. The … [Read more...]
Smart Tax Play or Trap? The Truth About Backdoor Roth IRAs
“Backdoor Roth IRA Conversions:Smart Move or Hidden Tax Trap?” To get my complete articlewith all the details… Is the Backdoor Roth IRA Your Secret to Tax-Free Wealth—or a Costly Mistake? For years, you've been told Roth IRAs are one of the best tools in the tax-planning toolbox. But what if your income is too high to contribute directly? Enter the Backdoor Roth … [Read more...]