SEP vs. SIMPLE vs. Qualified Plans: How to Choose a Retirement Plan When You Have Employees
IRS Publication 560 frames the employer choice as SEP vs. SIMPLE vs. qualified plan — compare uniformity, mandatory contributions, and admin cost.
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Tax Planning
Strategic tax planning to minimize liability and maximize savings
Borrowing From Your 401(k): Loan Limits, the 5-Year Repayment Rule, and What Happens When You Leave Your Job
A 401(k) loan caps at 50% of your vested balance or $50,000 — and leaving your job can turn the unpaid balance into taxable income plus a 10% penalty.
Christmas Tree Farm Taxes: How the Section 631(a) Election Turns Stumpage Value Into Capital Gain
Section 631(a) lets Christmas tree farms tax January-1 stumpage value as capital gain — lower rates and no self-employment tax.
From First Brand Deal to S-Corp: A Content Creator's Tax Playbook for 2026
Creators owe 15.3% self-employment tax from $400 in net profit, plus quarterly estimates — and an S-corp election saves five figures past ~$60K profit.
Farm Income Averaging on Schedule J: How Farmers and Fishers Smooth Tax Across Good and Bad Years
Schedule J lets farmers and fishers spread a bumper year's income across the prior three years' lower brackets — average savings topped $4,400 in one study.
Qualifying Surviving Spouse: How Widows and Widowers Keep Joint Tax Rates for Two More Years
IRS qualifying surviving spouse status keeps joint brackets and a $32,200 standard deduction for two years after a spouse's death.
Refund, Apply, or Split? How to Turn This Year's IRS Overpayment Into Next Year's Estimated Taxes
Applying your IRS overpayment to next year's estimates is irrevocable — take the refund, apply it forward, or split it via Form 8888 deliberately.
Your State May Pay You for Your Kids Too: State Child Tax Credits in 2026
Federal child credit is $2,200 per kid in 2026, and 17 states plus D.C. stack their own on top — up to $3,200 in Colorado, $1,750 per child in Minnesota.
Tax-Gain Harvesting in the 0% Bracket: How Business Owners With a Low-Income Year Can Sell, Rebuy, and Reset Basis Tax-Free Before December 31
In a low-income year, long-term gains are taxed at 0% Federal rate up to $98,900 joint — sell, rebuy immediately, and reset basis before December 31.
Canada's Small Business Deduction in 2026: How to Qualify for the 9% Rate
Canada's small business deduction taxes the first $500,000 of CCPC active business income at 9% federal — if you pass the control, income, and grind tests.
Military Spouse Tax Residency Relief: How to Stop Paying Income Tax in Every Duty-Station State
Federal law lets military spouses pay income tax in one chosen state instead of every duty station — if the withholding paperwork is filed.
Bison Ranch Bookkeeping: Breeding Herd vs. Market Inventory, Unit Livestock Prices, and Brucellosis Testing
Raised bison breeding stock carries zero IRS basis but still earns Section 1231 treatment at culling; purchased animals depreciate over five years.