Mega Backdoor Roth

Solo Business Owner with No Employees? The Mega Backdoor Roth Could Be a Game Changer

If you're a solo business owner who prefers the benefits of a Roth retirement account—but your income is too high to contribute directly to a Roth IRA—there’s a powerful tool you should know about: the mega backdoor Roth! This strategy allows you to invest up to $70,000 ($77,500 if age 50 or older) into a...Continue reading

Business-Entity-Comparison-2024

What is the Best Structure for My Business?

What is the best structure for my business? Use this chart to help determine how best to structure your business. Are you a business owner or entrepreneur trying to decide which entity structure is the best fit for your needs? Navigating the complex landscape of business entities can be challenging, so we provide this Business...Continue reading

Shutting Down Sole Proprietorship

What Are the Tax Implications of Shutting Down a Sole Proprietorship?

As you consider shutting down your sole proprietorship or your single-member LLC treated as a sole proprietorship for tax purposes, it’s crucial to understand the tax implications of this decision. Here’s an overview of key points you need to consider. Sole Proprietorship Asset Sale Tax Implications When you sell a sole proprietorship, you sell its...Continue reading

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