I run a pool business in Phoenix and contribute the maximum to my IRA annually. I believe a SEP could be a better option for retirement savings, but my CPA disagreed. Who is correct?
Question from a Small Business Owner A small business owner running a pool service in Phoenix, Arizona, inquires about their eligibility for a SEP IRA despite their CPA’s suggestion that they do not qualify. They mention contributing to an IRA up to the maximum amount annually and seek advice on this matter, having researched the […]
New $6,000 tax break for seniors presents a wonderful chance, says CPA: Tips for maximizing its benefits
New Tax Changes for Seniors in 2026 The upcoming changes to taxes in 2026 offer fresh opportunities for individuals aged 65 and older to manage their finances more effectively. A significant aspect of this is the newly introduced temporary senior “bonus,” which allows eligible individuals to deduct up to $6,000. This was part of the […]
Declining cryptocurrency values create a ‘unique’ opportunity for investors to utilize a traditional tax approach, according to a CPA.
The Current State of the Cryptocurrency Market The virtual currency market is experiencing a downturn. Bitcoin, the largest cryptocurrency globally, saw a 6% drop during trading on Monday, marking its most significant single-day fall since March. While it has seen a bit of a rebound and is currently priced around $93,000, it remains approximately 25% […]
'Taxes are on sale': Why now is a great time to save in a Roth account, says CPA – CNBC
As a kid, when your mom asked you to clean your room, pause your video game, or join her for dinner, you probably responded with something like, “Hold on a second” or “I’ll do it later.” With that same attitude, you would be a very traditional accountant, a CPA, IRA Help“From day one of your […]
Advice | Ask Amy: Boyfriend's CPA dad did my taxes wrong for years – The Washington Post
Dear Amy: My boyfriend’s father is a certified public accountant with decades of experience. A few years ago, he offered me to pay his taxes due to sudden complications due to inheritance. I was using cheap software for very basic filing. Since taking over my annual filing duties, he has consistently made mistakes that have […]