If you’re making quarterly estimated tax payments, missing a deadline can be costly. The IRS currently charges a 7 percent penalty for underpayments—and since penalties aren’t deductible, the real cost can feel closer to 11 percent. But here’s good news: strategic withholding can often help you avoid or erase those penalties—even late in the year.

If you are a business owner with no employees and prefer Roth-style retirement savings, you may want to consider the mega backdoor Roth strategy.

If your business hires freelance workers—also known as independent contractors—you need to be aware of new laws now in effect in California, Illinois, and New York.

On March 21, 2025, FinCEN issued an interim final rule that formally removes all BOI reporting requirements for U.S. companies and U.S. persons.

Are you looking for ways to reduce your 2024 tax bill while securing your financial future? Setting up a self-employed retirement plan may be your solution.

Because you operate your business as a solely owned corporation (C or S) with no employees, several excellent retirement plans are available to you that can provide significant tax deductions and help you build wealth for retirement.