Articles
Self-Directed IRA Versus Solo 401(k)
Debating between a self-directed IRA and a solo 401(k)? Both accounts allow alternative investments like real estate and private companies—but the right fit depends on your self-employment status, income, and goals. In this article, Mat Sorensen explains the key differences in taxes, contributions, and set-up so you can choose the best structure for your retirement strategy.
Stuck With a 401K Loan and Leaving Your Job
Have you taken a loan from your employer 401(k) plan and plan on leaving? Unfortunately, most company plans will require you to repay the loan within 60 days, or they will distribute the amount outstanding on the loan from your 401(k) account. Its one of the ways they...
Can I Use a SEP IRA If I Have Employees?
Wondering if you can use a SEP IRA if you have employees? The answer depends on their eligibility. In this article, Mat Sorensen breaks down the rules, loopholes, and strategies to maximize SEP IRA contributions while managing employee requirements.
6 Critical Trademark Considerations
Many clients wonder whether they need to trademark their business name. A trademark is a legal protection given to a business name or slogan and allows the owner to prevent others from using the same name or slogan. The purpose of a trademark is to give the owner of...
Solo 401K Form 5500 Tax Filing and Five-Point Compliance Checklist
Solo 401(k)s offer big benefits for the self-employed—but with that freedom comes responsibility. From Form 5500-EZ filings to plan updates and contribution tracking, this checklist outlines the key steps every Solo K owner must follow to keep their plan compliant and avoid costly penalties.
How to Disinherit a Child from your Estate?
What do you do when you have a child you’d like to disinherit from your estate? It’s not as easy as you think, so make sure you follow the proper procedures to specifically cut them out. Don’t just leave their name out of things and think that this will accomplish...
Invested in Crypto? Here’s Everything You Need To Know About This Year’s Tax Rules
The IRS continues to issue updated guidance on all things crypto. We help you make sense of it. When you buy Bitcoin and sell it for a profit, you are subject to capital-gains taxes. This is the case whether you buy Bitcoin and sell it for dollars or whether you...
The IRS is Coming for Your Crypto. Here’s What You Need to Know.
Tax season is upon us, and if you're unsure of how this affects your crypto wallet, then you need to see this. Tax season is here, and if you’ve had any transactions related to crypto, there is a lot you need to know. Mark and I break down some vital information on...
3 Critical Legal Tips When Buying a Business
Every buyer of a small business should consider the following three key legal issues when acquiring a business. 1. Buy Assets and Not Liabilities. Most small business purchases are done as what are called “Asset Purchases”. In an Asset Purchase the buyer of the...
New IRS 1099 Rule for PayPal and Venmo Targets Very Small Businesses and Will Cause Misreporting and Errors
The IRS recently announced that payment apps such as PayPal, Venmo and CashApp will be required to issue 1099s to small businesses and self-employed persons. The problem is these taxpayers don’t have accounting departments and professionals to rely on.
