Whether a business is new or established, 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.

One popular fringe benefit that an employer can offer is an education assistance program that allows employees to continue learning, and perhaps earn degrees, with financial help from the employer. A business can attract, retain and motivate employees by providing these benefits so that team members can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer under a “qualified educational assistance program.”

Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, depending on what they’re invested in. But one drawback is that they limit the account owner’s investment choices. A self-directed IRA provides more flexibility in investment choices but comes with greater risk as well.

Self-employed individuals, and those with income from interest, rent, dividends and other sources, generally must pay estimated tax payments throughout the year. Mishandling these payments could trigger penalties. This brief article offers three strategies for getting it right, and a reminder that the next due date for estimated taxes is coming up fast: January 16, 2024.