January is tough. The holidays are over. Tax forms are starting to trickle in. You probably have a lot of things on your to-do list that you didn’t get done in December because you were so busy. Now you don’t know when you’ll have time to catch up because the new month and new year […]

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a Deduction The net operating loss (NOL) deduction addresses the tax inequities that can […]

Many individuals today are self-employed or generate income from interest, rent, dividends and other sources. If you’re in this situation, you could be risking penalties if you don’t pay enough taxes during the year through estimated tax payments and withholding. (The due date for the final estimated payment for 2023 is January 16, 2024.) Here […]

Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they’re invested in, they limit your investment choices. For more flexibility in investment choices but also more risk, another option is a self-directed IRA. Gaining More Control A self-directed IRA is simply an IRA that provides greater control over investment decisions. […]