Tax Tips & More
Best Retirement Plan Options for a Solo-Owned C or S Corporation
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.
Triple Tax Advantages: Reimburse Employee-Spouse for Health Insurance
If you operate a sole proprietorship or a single-member LLC taxed as a proprietorship and your spouse is your only eligible employee, you can take advantage of tax-free health insurance reimbursements while reducing your tax liability.
Beware of UBIT Lurking in Your IRA - It Causes Double Taxes
If your IRA makes alternative investments, it may be subject to a special tax called the unrelated business income tax (UBIT)—and that’s true even if it’s a Roth IRA.
Almost the Last Chance to Claim the 2021 ERC
If your business has not yet claimed the 2021 Employee Retention Credit (ERC), you still have time—but you must act soon.
How to Correctly Pay Yourself and Take Cash from Your Business
A common question among business owners is how to pay themselves from their businesses properly. The correct method depends on your business structure, so I wanted to give you this quick guide to help you navigate this issue.
2024 Last-Minute Year-End Medical Plan Strategies
All small-business owners with one to 49 employees should have a medical plan for their business. Here are six opportunities for you to consider.
Best Practices When E-Filing Returns
Avoid future problems by following these best practices for e-filing.
Common Mistakes in Tax Preparation
Avoid errors that can occur when preparing tax returns by learning these common mistakes.
What Are Your Chances of Being Audited?
These red flags could increase your chances of the IRS selecting your return for audit.
August 2025 Tax Due Dates
August 11: Tips for July 2025 reported to employer
September 2025 Tax Due Dates
September 10: Tips for August 2025 reported to employer
September 15: Estimated tax payment for third quarter of 2025
October 2025 Tax Due Dates
October 10: Tips for September 2025 reported to employer
October 15: File extended 2024 tax return (Form 1040)
October 15: Withdraw excess IRA contributions in 2024 to avoid penalty if filing of Form 1040 was extended
October 15: Contribute to solo 401(k) plan or simplified employee pension (SEP) plan for 2024 by self-employed if you received a filing extension