SEP vs. Solo 401(k)
2023-12-07 SEP vs. Solo 401(k) These are the two retirement plans that allow self-employed individuals to defer the most income.  These two plans have many similarities and some key differences.  The maximum ...
Relief From Stringent 1099-K Reporting Requirements
2023-12-06 Relief From Stringent 1099-K Reporting Requirements I recently posted about new filing requirements that would require transaction processors such as Venmo and Paypal to issue a Form 1099-K to anyon...
Benefits of Section 529 College Savings Plans
2023-11-21 Benefits of Section 529, Tax-advantaged Savings Plans    Section 529 plans allow parents and grandparents the ability to save for their children’s future college expenses in a tax-friendly manner.  ...
Substantiation of Business Expenses
2023-11-21 Substantiation of Business Expenses    Taxpayers bear the burden of substantiating every deduction claimed on their tax return.  The information presented here is aimed specifically at business dedu...