Tax Tips & More
Solo Biz Owner? No Employees? Is the Mega Backdoor Roth for You?
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.
New Law Requires Written Freelance Agreements
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.
CTA BOI Reporting is Over Except for Foreign Companies
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.
Sole Proprietorship Retirement Plans to Help Reduce Your 2024 Tax Bill
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.
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.
Wildfires, Floods, Hurricanes: How the IRS Has Your Back
There’s nothing good about a disaster, but at least the tax law can help disaster victims in various ways. And recent changes in the law provide even more ways to get tax relief.
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.
April 2025 Tax Due Dates
April 1: First Required minimum distribution (RMD) by individuals who turned 73 in 2024
April 10: Tips for March 2025 reported to employer
April 15: File 2024 tax return and pay tax due
April 15: File Form 4868 to request 6-month income tax return filing extension (payment of tax not extended)
April 15: File Schedule H (1040) and pay employment taxes for household employees (file separately if Form 1040 is not filed)
April 15: Estimated tax payment for 1st quarter of 2025
April 15: Contribute to individual retirement account (IRA) for 2024
April 15: Withdraw excess IRA contributions in 2024 to avoid penalty if filing of form 1040 was not extended
April 15: Contribute to health savings account (HSA) for 2024
April 15: Contribute to solo 401(k) plan or simplified employee pension (SEP) plan for 2024 by self-employed if filing of form 1040 was not extended
April 15: File 2021 tax return (Form 1040) to request unclaimed tax refund for the 2021 tax year
May 2025 Tax Due Dates
May 12: Tips for April 2025 reported to employer (Form 4070)
June 2025 Tax Due Dates
June 10: Tips for May 2025 reported to employer
June 16: Estimated tax payment for 2nd quarter of 2025
June 16: U.S. taxpayers living and working abroad file 2024 tax return
June 16: U.S. taxpayers living and working abroad file form 4868 to request 4-month income tax return filing extension (payment of tax not extended)
June 16: Military personnel on duty outside the U.S. file 2024 tax return
June 16: Military personnel on duty outside the U.S. file Form 4868 to request 4-month income tax return filing extension (payment of tax not extended)