What Happens When You Run Out of Money? A Memorial Day Reminder to Plan Ahead

Cartoon of a distressed man sitting in an armchair, holding an empty wallet with a single coin floating in a speech bubble above him, symbolizing financial struggle.

Memorial Day is a time to honor those who have served and sacrificed for our country. While we reflect on their bravery, it’s also an important reminder of how essential it is to plan ahead—financially. Just as military service members prepare for the challenges ahead, we should all be preparing for financial uncertainty. Running out…

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Why Retirement Plans Need Room to Breathe

A red 401(k) balloon squeezed inside a clear box, showing why retirement plans need room to breathe 4o

Most retirement plans are built with one goal: maximize contributions. But what if that mindset is too rigid? What if by trying to optimize every tax-advantaged dollar, you’re setting yourself up for long-term inefficiencies, liquidity problems, or even unnecessary taxes? Retirement plans need room to breathe. You need flexibility—financial, strategic, and tax-related—so your savings can…

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Unlock Hidden Roth Contributions Through Your 401(k) or 403(b)

Man unlocking a safe labeled Roth Savings, symbolizing hidden retirement contributions through a 401(k) or 403(b)

Roth IRA contribution limits are frustrating—especially when you’re a high earner. But there’s a way around it that most people miss. If your employer offers the right retirement plan, you can contribute far more than the standard Roth IRA limit—legally and efficiently. This strategy is called the Mega Backdoor Roth, and it works through your…

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Structure Your Business Properly to Significantly Lower Your Taxes

how to structure your business to save on taxes in 2025

  Knowing how to structure your business to save on taxes in 2025 is essential if you want to reduce your tax burden and keep more of your income. Recent changes in U.S. tax laws, such as the Tax Relief for American Families and Workers Act and the Inflation Reduction Act, have introduced new provisions…

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The Right Way to Ask Your C or S Corporation for Travel Reimbursements

Keep these basic rules in mind when you work in and operate your business as a corporation: You are an employee of the corporation. The corporation is a legal entity separate from you. The corporation is the business. You can incur business expenses on behalf of the corporation. The corporation may reimburse you for the…

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Triple Tax Advantages: Reimburse Employee-Spouse for Health Insurance

If you are self-employed or a single-member limited liability company (LLC) taxed as a proprietorship and your spouse is your only eligible employee: Your business can reimburse your employee-spouse for the cost of health insurance, whether purchased through a public health insurance exchange or an insurance company. Your health insurance reimbursement to your employee-spouse works…

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Beware of UBIT Lurking in Your IRA—It Causes Double Taxes , 2025

When you invest in a traditional individual retirement account (IRA), you get a tax deduction for the money you put in and then pay taxes when you take the money out. Money inside the IRA grows tax-free (or tax-deferred, technically, because it’s taxable when you take it out of a traditional IRA). But here is…

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How to Correctly Pay Yourself and Take Cash from Your Business in 2025

Many small business owners ask, “Should I put myself on the payroll?” The answer isn’t simple. Whether you are looking to maximize your qualified business income (QBI) deduction or take advantage of employee fringe benefits, incorrectly paying yourself wages can cause serious issues. In this article, we walk through the different ways the tax code…

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Maximize Tax Savings: Deduct Heavy Vehicles & Home Offices in 2025

As a small-business owner, you can set yourself up for some generous tax breaks by knowing a few vehicle and home-office deduction rules. And if you operate as other than a C corporation, you will realize the tax breaks on your personal tax return. If you operate as a C corporation, the C corporation gets…

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