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If you are self-employed and contributing to a SEP IRA, SIMPLE IRA, or solo 401(k), you may be deducting your retirement contributions in the wrong place on your tax return without even knowing it. This common mistake doesn’t just misplace a number; it can distort your self-employment tax calculation, throw off your allowable contribution amount, and cost you money. Read on to learn where the deduction actually belongs, why the distinction matters more than most people realize, and how choosing the right plan could potentially double your tax-sheltered savings.

Getting married triggers significant tax changes that catch many couples off guard, from a new filing status that takes effect the moment you say “I do,” to withholding gaps that can result in an unexpected tax bill in April. Beyond filing and withholding, newlyweds also need to address name and address updates, healthcare coverage decisions, HSA eligibility changes, and dependent-related credits before year-end. Tackling these adjustments proactively, rather than waiting until tax season, helps couples avoid penalties, protect their refunds, and start their financial life together on solid footing.

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs have been reauthorized and extended through September 30, 2031. The reauthorization includes several notable changes, including higher funding ceilings, expanded agency participation, new foreign-entity security screening requirements, and a new large-award allocation for qualifying businesses. Small businesses engaged in applied research and development across a broad range of industries should take note of these programs as a potential source of non-dilutive grant funding.

A practical guide to using a SEP IRA, SIMPLE IRA, or solo 401(k) strategically, covering contribution limits, deadlines, employee rules, tax planning, and when each plan makes the most sense.

Filing a tax extension buys you time, but only if you use it wisely. From revisiting your April payment estimate to gathering missing documents and staying on top of current-year obligations, the months between now and October 15th are a valuable planning window. Read on to learn how to make the most of your extension and avoid a costly repeat of the same tax challenges next year.

With the expiration of expanded ACA subsidies in 2026, self-employed professionals are facing significant premium increases with no employer to share the burden. While healthcare costs are rising, strategic planning can help reduce your total cost. The key is treating healthcare like any other business expense – strategically, proactively, and with tax efficiency in mind.

The IRS Individual Online Account gives taxpayers secure, year-round access to tax records, balances, payments, and official notices all in one place. Read on to discover how this powerful tool works and how it can make staying on top of your taxes easier than ever.

For business owners, financial decisions rarely stay within company walls – they extend into personal wealth and security. Financial resilience emerges when business health and personal protection are managed together, not in isolation. This article explores how owners can strengthen both through disciplined financial monitoring, strategic risk management, and intentional separation between enterprise and personal finances.

S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren’t automatic – they depend on your income level, involvement in the business, and whether you’re ready to manage the added compliance responsibilities. Here’s what you need to know about how S-corps work, who they’re right for, and what’s required to maintain one.

The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available to FLSA-covered employees who meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.