Opening a Roth IRA as a startup founder requires surprisingly few documents. A Roth IRA is always an individual retirement account. You open it in your personal name, not as a company benefit plan. The good news? You typically need just two personal identification documents to get started. The key challenge lies in proving you […]
Virginia’s 2026 budget negotiations have introduced a handful of tax policy changes that could affect how small business owners plan for the year ahead. The proposals include scaling back certain business interest deductions, phasing out a major data center tax exemption, and increasing standard deductions for individual filers. Some of these changes create new costs. […]
Running a business with your spouse can create additional retirement planning opportunities. Many self-employed business owners wonder if their spouse can contribute to a Roth Solo 401k alongside them. The short answer is yes, but only if your spouse works in the business and meets specific requirements. If both spouses qualify, this setup may allow […]
Funding a Solo 401k sounds straightforward until you sit down to move money and realize there are two separate contribution buckets, multiple deadlines, and different tax treatments depending on how you structure each deposit. Most self-employed professionals know the plan exists and have heard the big numbers, but the mechanics of actually getting funds into […]
High-income software engineers often hit a frustrating ceiling when trying to save for retirement. Direct Roth IRA contributions phase out completely once your income crosses certain thresholds. For singles, that happens at $168,000 in 2026. Married couples filing jointly lose access at $252,000. These limits block many tech professionals from contributing to one of the […]
Should you open a Roth IRA now or wait until your income drops? Learn how Roth IRA income limits, phase-out rules, and timing can affect when contributing may make the most sense.
Retiring in 2026 as a small business owner? See updated senior deduction, Social Security taxes, Solo 401k limits, QBI and bonus depreciation.
High income can feel like a penalty. As earnings rise, more deductions and credits start to phase out. Some rules also add extra limits. Business owners who plan early often focus on a few levers. One lever is solid records for ordinary and necessary expenses. Another lever is retirement plan design. Timing also matters for […]
A higher income does not always mean a straightforward tax return. Some filers calculate their tax one way, then learn the IRS requires a second calculation using a different set of rules. This second system is called the Alternative Minimum Tax, or AMT. AMT is a parallel tax formula. It adjusts income by adding back […]
