Small business owners seeking a flexible, cost-effective retirement plan may benefit from a Simplified Employee Pension (SEP) plan. This article explains how SEP plans work, including setup and contribution limits. It also discusses other plans to help businesses choose an option that aligns with their goals and supports their employees.
Renting out a vacation home can generate additional income, but it also brings important tax considerations. The article explains how rental and personal use days affect income reporting, allowable deductions and loss limitations. It highlights key rules, including the 14-day threshold and expense allocation requirements, to help homeowners better understand how to manage the tax implications of short-term property rentals.
An emergency fund is an important part of a healthy financial plan. Periodic reviews can help ensure savings reserves still align with current expenses, liquidity needs and long-term financial goals.
Businesses that hire independent contractors need to understand when backup withholding applies and the reporting requirements to remain compliant and avoid IRS penalties. This article covers the basics.
This calendar notes important tax deadlines for the third quarter of 2026.