“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...]
Tax Planning
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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...]
If You Hire Freelancers in CA, IL, or NY, You Need To Read This
“Alert: CA, IL, and NY Laws RequireWritten Freelance Agreements” To get my complete articlewith all the details… If your business hires freelancers in California, Illinois, or New York, you need to read this: New state laws now require written contracts—and missing one could cost you double damages, attorney fees, and statutory penalties. Freelancer-friendly … [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...]