Tax Planning For Restricted Stock Units and Awards
Tax planning for Restricted Stock Units (RSUs) and Restriced Stock Awards (RSAs).
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Taxes
SEP IRA vs. Solo 401k for the Self Employed Professional
I’ve recently written about two options for the self-employed professional to save a significant amount for retirement in a tax advantaged way. The SEP IRA, and the Solo 401(k). In this article I’ll summarize the key differences and advantages of one over the other. While both of these plans will help you achieve your goal
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Solo 401k for the Self Employed Professional
Self-employed professionals can save for retirement using tax-advantaged accounts like the Solo 401k, offering both employee and employer contributions tailored to individual goals. The Solo 401k permits pre-tax, Roth, and after-tax contributions and a higher potential savings rate compared to SEP IRAs, with caps at $66,000 for 2023 and $69,000 for 2024. Complexities in administration versus a SEP IRA are offset by the benefit of increased contributions and Roth options. Consulting a tax advisor is advised for compliance and maximizing benefits.
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SEP IRA: Big Tax Savings for the Self Employed Professional
As a self employed professional you are responsible for establishing your own retirement plan. Fortunately there are several options that can result in significant tax savings and help you eventually exit your business with a solid retirement plan. Some retirement plan options for self employed professionals include a SEP IRA, Individual 401k, Defined Contribution Plan,
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Roth IRA Strategies After SECURE Act 2.0
On December 23, while most of us were beginning to celebrate the holidays the president signed a massive $1.7 Trillion Omnibus bill to fund the government. Tucked away in this 4,000 page bill were significant changes that will impact retirement savers known as Secure Act 2.0. While there were many changes in the new law
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It’s Time To Bring In The Tax Loss Harvest
This has been a rough year for investors. The stock market averages have been down double digits for most of the year. We are clearly in a bear market for equities. To make matters worse, bonds have also dropped significantly this year, meaning the lower risk 60/40 type portfolios are down almost as much as
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