From Payroll to Roth IRAs: Master Tax Moves for Year-End Success with Mark Kohler Ep 269
Dec 13, 2024
01:00:00
Highlights:
* Year-End Tax Deadline: December 31st marks the cutoff for essential financial moves. * Payroll Allocations: Save on self-employment taxes by restructuring income via S-corporations. * Family Employment Benefits: Employ children under 18 for tax-free earnings up to $14,600. * Retirement Planning: Solo 401ks allow contributions 5–6x higher than IRAs. * HSAs and FSAs: Maximize contributions and utilize funds to avoid forfeiture. * Compliance Reminder: File BOI reports to avoid $500/day penalties.
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