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IRS Notices Letters
IRS Notices & Letters: What to Do If You Get One

Receiving an IRS notice or letter can be stressful, but it doesn’t always mean you’re in trouble. Here’s how to understand, respond to, and resolve IRS correspondence effectively.

1. Why Did You Receive an IRS Notice?

The IRS sends notices for a variety of reasons, including: ✅ Balance due notifications (CP14, CP501, CP503).
✅ Refund adjustments (CP12).
✅ Underreported income or matching errors (CP2000).
✅ Audit or examination notices (Letter 2205-A, Letter 566).

🔗 Related: IRS Audit Triggers: How to Avoid an Unnecessary Audit

2. How to Read & Understand Your IRS Notice

🚨 Each notice has a letter or form number in the upper-right corner.
🚨 It explains why the IRS contacted you and what action is needed.
🚨 Some notices require a response, while others are just informational.

✅ Always verify the accuracy of the IRS claim before responding.
✅ Compare the notice to your tax return and financial records.

🔗 Related: New IRS Tax Law Changes for 2025

3. What to Do If You Disagree With an IRS Notice

✅ If the IRS made an error, you can dispute it by sending a written response with supporting documentation.
✅ For CP2000 (underreported income), you must reply by the due date or request additional time.
✅ If you need help, consider hiring a tax professional or calling the IRS directly.

🔗 Related: IRS Relief Programs: What Help Is Available for Taxpayers?

4. What to Do If You Owe Money

🚨 If you receive a balance due notice, pay as much as possible by the due date to avoid penalties.
🚨 If you can’t pay in full, apply for an IRS payment plan.

✅ Options include short-term and long-term installment agreements. ✅ Consider Offer in Compromise if you qualify for a tax settlement.

🔗 Related: How to Apply for an IRS Payment Plan

5. How to Contact the IRS About Your Notice

📌 Call the IRS phone number listed on the notice.
📌 Use the IRS Online Account to view your tax status.
📌 If you need more time, request an extension before the response deadline.

🔗 Related: Important IRS Deadlines & Filing Dates

Final Thoughts

An IRS notice doesn’t always mean bad news, but ignoring it can lead to bigger problems. Read your notice carefully, verify the information, and take action promptly.

🚀 Next Steps:

Check your IRS notice type and required action.

Dispute incorrect notices with documentation.

Set up a payment plan if you owe taxes.

🔗 Need more IRS insights? Visit our IRS Tax Updates & Alerts Hub.
March 13, 2025
IRS Deadlines Filing Dates
Important IRS Deadlines & Filing Dates You Shouldn’t Miss

Missing an IRS tax deadline can result in penalties, interest, or even loss of tax benefits. Stay ahead by marking these key dates on your calendar.

1. Federal Tax Filing Deadline

📌 April 15, 2025 – Due date to file your 2024 federal tax return or request an extension.
📌 If you owe taxes, payment is due April 15, 2025, even if you file an extension.

🔗 Related: Tax Filing Shortcuts: The Easiest Ways to File

2. Tax Extension Deadline

📌 October 15, 2025 – If you requested an extension (Form 4868), this is your new filing deadline.
📌 Late-filing penalties may apply if you fail to file by this date.

🔗 Related: IRS Tax Filing Deadlines & Extensions

3. Quarterly Estimated Tax Payment Deadlines (2025)

If you’re self-employed, a freelancer, or have investment income, you may need to pay estimated taxes quarterly.

📌 Q1 Payment: April 15, 2025
📌 Q2 Payment: June 16, 2025
📌 Q3 Payment: September 15, 2025
📌 Q4 Payment: January 15, 2026

🔗 Related: How 2025 Contributions to IRA & 401(k) Can Reduce 2024 Taxes

4. IRA & 401(k) Contribution Deadlines for 2024 Tax Savings

📌 April 15, 2025 – Last day to contribute to a Traditional IRA or Roth IRA for the 2024 tax year.
📌 Employer 401(k) contributions must be made by December 31, 2024.
📌 Self-employed SEP IRA and Solo 401(k) contributions can be made up to your tax filing deadline (including extensions).

🔗 Related: Self-Employed Retirement Plans: SEP IRA, Solo 401(k), & More

5. Other Key IRS Deadlines

📌 June 17, 2025 – FBAR Filing Deadline for foreign bank accounts (FinCEN Form 114).
📌 January 31, 2025 – Deadline for employers to send W-2 and 1099 forms.
📌 May 17, 2025 – Deadline for tax-exempt organizations to file Form 990.

🔗 Related: IRS Notices & Letters: What to Do If You Get One

Final Thoughts

Staying aware of important IRS deadlines can help you avoid penalties and maximize your tax benefits. Don’t wait until the last minute—file early and stay compliant.

🚀 Next Steps:
- - Mark your calendar for the tax deadlines that apply to you.
- - File on time to avoid IRS late fees and penalties.
- - Make retirement contributions before the deadline to reduce your tax bill.
🔗 Need more IRS updates? Visit our IRS Tax Updates & Alerts Hub.
March 13, 2025
IRS Relief Programs
IRS Relief Programs: What Help Is Available for Taxpayers?

If you’re struggling to pay your tax bill, the IRS offers multiple relief programs to help taxpayers manage their debt. Here’s an overview of the best IRS tax relief options and how to qualify.

1. IRS Payment Plans (Installment Agreements)

✅ Allows you to pay taxes over time instead of in a lump sum.
✅ Available for those who owe $50,000 or less (individuals) or $25,000 or less (businesses).
✅ Interest and penalties still apply.

🔗 Related: How to Apply for an IRS Payment Plan

2. Offer in Compromise (OIC) – Settle Tax Debt for Less

✅ Allows taxpayers to settle their tax debt for less than the full amount owed.
✅ IRS considers income, expenses, and ability to pay.
✅ Only 30-40% of applications get approved, so it’s best to apply with professional guidance.

🔗 Related: Offer in Compromise Guide

3. IRS Fresh Start Program

✅ Helps taxpayers avoid tax liens and levies by offering simplified payment plans.
✅ Increased the debt threshold for Installment Agreements to $50,000.
✅ Reduces penalties for eligible taxpayers.

🔗 Related: IRS Tax Updates & Alerts

4. Currently Not Collectible (CNC) Status

✅ If you can’t afford to pay, the IRS may temporarily stop collection efforts.
✅ You must prove financial hardship (showing that paying taxes would prevent basic living expenses).
✅ Interest and penalties still accrue, but IRS collection actions are paused.

🔗 Related: IRS Notices & Letters: What to Do If You Get One

5. Penalty Abatement – Reduce or Remove IRS Penalties

✅ First-time penalty abatement available if you have a history of filing and paying on time.
✅ Reasonable cause abatement available if illness, natural disasters, or hardships prevented payment.
✅ Can remove failure-to-file and failure-to-pay penalties, but not interest.

🔗 Related: IRS Audit Triggers & How to Avoid an Audit

Final Thoughts

The IRS offers several options for tax relief, but choosing the right program depends on your financial situation. If you owe taxes, act early to avoid collections and additional penalties.

🚀 Next Steps:

Check if you qualify for an IRS payment plan or Offer in Compromise.

Apply for penalty abatement if eligible.

Seek professional help if you’re unsure about your options.

🔗 Need more IRS relief information? Visit our IRS Tax Updates & Alerts Hub.
March 13, 2025
IRS Tax Law Changes 2025
New IRS Tax Law Changes for 2025: How They Impact You

The IRS updates tax laws annually, and 2025 brings key changes that may affect your tax deductions, credits, and filing process. Here’s a breakdown of what’s new and how you can prepare.

1. Standard Deduction & Tax Bracket Adjustments

The IRS adjusts tax brackets and the standard deduction annually for inflation.

✅ Standard Deduction Increases (2025 Estimates):
- Single: $14,600 (up from $13,850 in 2024)
- Married Filing Jointly: $29,200 (up from $27,700)
- Head of Household: $21,900 (up from $20,800)
✅ Tax Bracket Adjustments – Marginal tax rates will be slightly adjusted for inflation to prevent bracket creep.

🔗 Related: IRS Tax Filing Deadlines & Extensions

2. Changes to Tax Credits (CTC, EITC, & Saver’s Credit)

✅ Child Tax Credit (CTC): Expected to increase for inflation, and refundable portion may be adjusted. ✅ Earned Income Tax Credit (EITC): Income thresholds will be adjusted upward. ✅ Saver’s Credit: More taxpayers may qualify due to income limit increases.

🔗 Related: Your Guide to Tax Credits & Deductions

3. IRA & 401(k) Contribution Limits for 2025

✅ IRA Contributions: Expected limit increase to $7,500 ($8,500 if 50+). ✅ 401(k) Contributions: Could increase to $24,000 ($31,000 if 50+). ✅ SEP IRA & Solo 401(k): Maximum contributions expected to rise.

🔗 Related: How 2025 Contributions to IRA & 401(k) Can Reduce 2024 Taxes

4. Expanded IRS Enforcement & Audit Risk

The IRS is increasing tax enforcement efforts, meaning more audits and compliance checks. ✅ High-risk areas include self-employment income, cryptocurrency, and large deductions. ✅ Ensure accurate reporting to avoid penalties.

🔗 Related: IRS Audit Triggers & How to Avoid an Audit

5. Digital Payment Platforms (Venmo, PayPal, Cash App) Tax Reporting

✅ The IRS will continue requiring Form 1099-K for digital transactions over $600.
✅ Businesses and freelancers must report all earnings, even if not receiving a 1099-K.

🔗 Related: IRS Notices & Letters: How to Respond

Final Thoughts

Tax law changes in 2025 could impact your refund, deductions, and tax planning strategies. Stay ahead by understanding what’s changing and adjusting your tax strategy now.

🚀 Next Steps:
- Check if you qualify for new tax credits or increased deductions.
- Adjust your 401(k) and IRA contributions before the deadline.
- File accurately to avoid IRS audit triggers.
🔗 Need more tax updates? Visit our IRS Tax Updates & Alerts Hub.

March 13, 2025

How to Claim the Saver’s Credit for Retirement Contributions

The Saver’s Credit is an overlooked tax benefit that rewards low- and moderate-income taxpayers for saving for retirement. This credit directly reduces your tax bill, making it easier to build long-term wealth while lowering your 1040 taxes.

1. What Is the Saver’s Credit?

✅ A tax credit worth up to $1,000 ($2,000 for married couples).
✅ Applies to 401(k), 403(b), IRA, and some other retirement contributions.
✅ Helps lower-income taxpayers offset the cost of saving for retirement.

2. Saver’s Credit Income Limits (2024)

Filing Status	50% Credit (Max)	20% Credit	10% Credit	Not Eligible Above
Single	$0 – $23,000	$23,001 – $25,000	$25,001 – $36,500	$36,501+
Married Filing Jointly	$0 – $46,000	$46,001 – $50,000	$50,001 – $73,000	$73,001+
Head of Household	$0 – $34,500	$34,501 – $37,500	$37,501 – $54,750	$54,751+

3. Who Qualifies for the Saver’s Credit?

✅ Must be 18 or older and not a full-time student.
✅ Cannot be claimed as a dependent on someone else’s tax return.
✅ Must contribute to a qualified retirement account.

4. How Much Can You Get?

The credit is worth 50%, 20%, or 10% of your contributions, depending on income.

✅ Maximum Contribution for Credit:

$2,000 per person ($4,000 for married couples filing jointly).
Couples could receive up to $2,000 in total tax savings.

5. How to Claim the Saver’s Credit

✅ File Form 8880 (Credit for Qualified Retirement Savings Contributions).
✅ Report IRA, 401(k), or 403(b) contributions on your 1040 tax return.
✅ Use tax software or a preparer to calculate the credit.

Final Thoughts

The Saver’s Credit is a valuable tax break for those saving for retirement. If you qualify, it’s like getting free money for your future while lowering your tax bill today.

🚀 Next Steps:

Check if your income qualifies for the Saver’s Credit.
Make 401(k), IRA, or 403(b) contributions before the tax deadline.
File Form 8880 to claim your credit.

🔗 Need more tax-saving strategies? Visit our Retirement Tax Savings Guide.

Self Employed Retirement Plans

Self-Employed Retirement Plans: SEP IRA, Solo 401(k), & More

Self-employed individuals and small business owners have unique retirement savings options that offer major tax advantages. Here’s how SEP IRAs, Solo 401(k)s, and SIMPLE IRAs can help lower your 1040 taxes while securing your future.

1. SEP IRA: The Simplest Tax-Advantaged Plan for the Self-Employed

✅ Contributions are tax-deductible, reducing your taxable income.
✅ Maximum contribution for 2024: Up to 25% of net earnings, max $69,000.
✅ No annual IRS filing requirements.

2. Solo 401(k): Maximize Retirement Savings as a Business Owner

✅ Designed for self-employed individuals with no employees (except a spouse).
✅ Contribution limits (2024):

- Employee: Up to $23,000 ($30,500 if 50+).

- Employer (business) match: Up to 25% of net earnings.

- Total max contribution: $69,000 ($76,500 if 50+).

✅ Roth Solo 401(k) option available for tax-free withdrawals in retirement.

3. SIMPLE IRA: A Retirement Plan for Small Businesses

✅ Best for small businesses with up to 100 employees.
✅ Lower contribution limits than SEP & Solo 401(k): Up to $16,000 ($19,500 if 50+).
✅ Requires mandatory employer contributions.

4. Choosing the Best Self-Employed Retirement Plan

Plan Type	Best For	Max Contribution (2024)
SEP IRA	Freelancers & business owners	$69,000
Solo 401(k)	Self-employed with no employees	$69,000 ($76,500 if 50+)
SIMPLE IRA	Small businesses with employees	$16,000 ($19,500 if 50+)

5. How to Set Up a Self-Employed Retirement Plan

✅ Choose a provider (Fidelity, Vanguard, Charles Schwab, etc.).
✅ Open an account online (for SEP IRA, Solo 401(k), or SIMPLE IRA).
✅ Make contributions before your tax deadline.

Final Thoughts

Self-employed retirement plans provide huge tax benefits while helping you save for the future. Whether you choose a SEP IRA, Solo 401(k), or SIMPLE IRA, each option offers tax deductions and long-term financial growth.

🚀 Next Steps:

- Compare SEP IRA vs. Solo 401(k) based on your income and tax needs.

- Open a self-employed retirement plan before your tax filing deadline.

- Consider adding an HSA for extra tax savings.

🔗 Need more tax-saving strategies? Visit our Retirement Tax Savings Guide.

HSA Tax Benefits

The Health Savings Account (HSA): A Triple Tax Advantage

A Health Savings Account (HSA) is one of the most powerful tax-saving tools available. With triple tax advantages, HSAs can help lower your 1040 taxes now and provide long-term savings for medical expenses.

1. What Is an HSA?

✅ An HSA is a tax-advantaged account for medical expenses.
✅ Available to those enrolled in a high-deductible health plan (HDHP).
✅ Contributions are tax-deductible, grow tax-free, and withdrawals for medical expenses are tax-free.

2. HSA Tax Benefits

📌 Contributions are tax-deductible, reducing taxable income.
📌 Earnings grow tax-free, unlike regular savings accounts.
📌 Withdrawals for qualified medical expenses are tax-free.
📌 No required minimum distributions (RMDs), unlike IRAs and 401(k)s.

✅ HSA Contribution Limits for 2024:

- Self-only coverage: $4,150

- Family coverage: $8,300

- 55+ catch-up contribution: Additional $1,000

3. How to Use Your HSA for Maximum Tax Savings

✅ Pay for medical expenses now or let funds grow tax-free for future healthcare costs.
✅ Invest HSA funds in stocks, ETFs, and mutual funds for long-term growth.
✅ Use an HSA as a retirement savings tool, as non-medical withdrawals after age 65 are penalty-free (though taxed like income).

4. Who Can Open an HSA?

✅ Must be enrolled in an HSA-eligible high-deductible health plan (HDHP).
✅ Cannot be covered by Medicare or another non-HDHP plan.
✅ Cannot be claimed as a dependent on someone else’s tax return.

5. HSA vs. Flexible Spending Account (FSA)

Feature	HSA	FSA
Tax-Deductible Contributions	✅ Yes	✅ Yes
Funds Roll Over Each Year	✅ Yes	❌ No (Use-it-or-lose-it rule)
Invest Funds for Growth	✅ Yes	❌ No
Penalty-Free Withdrawals for Any Purpose After Age 65	✅ Yes	❌ No

Final Thoughts

An HSA is one of the best ways to lower your taxable income while saving for future healthcare costs. Max out contributions to get the triple tax benefits and consider investing your HSA funds for long-term growth.

🚀 Next Steps:

- Contribute to your HSA before the tax deadline.

- Use HSA funds for medical expenses or let them grow tax-free.

- Consider an HSA as part of your retirement plan.

🔗 Need more tax-saving strategies? Visit our Retirement Tax Savings Guide.

IRA 401k Contributions 2024

How 2025 Contributions to IRA & 401(k) Can Reduce 2024 Taxes

Did you know you can still make IRA and 401(k) contributions in 2025 that will lower your 2024 tax bill? Here’s how to take advantage of last-minute retirement contributions to reduce taxable income and maximize deductions.

1. Traditional IRA Contributions (Until April 15, 2025)

✅ Contributions made by April 15, 2025 can be applied to your 2024 taxes.
✅ Deductible contributions lower your Adjusted Gross Income (AGI).
✅ Maximum contribution: $7,000 ($8,000 if 50+).

2. Self-Employed Retirement Contributions (Extended Until Tax Filing Deadline)

✅ Solo 401(k), SEP IRA, and SIMPLE IRA contributions can be made up to your tax filing deadline (including extensions).
✅ SEP IRA contributions: Up to 25% of net earnings, max $69,000.
✅ Solo 401(k) employee contributions: Must be made by Dec 31, 2024, but employer contributions can be extended.

3. Employer 401(k) Contributions (Deadline: Dec 31, 2024)

✅ Employee 401(k) contributions must be made by the end of 2024.
✅ Max employee contribution: $23,000 ($30,500 if 50+).
✅ If eligible, check if your employer allows after-tax 401(k) contributions for tax-free Roth conversions.

4. Can You Still Contribute to a Roth IRA for 2024?

✅ Yes! Roth IRA contributions for 2024 can be made until April 15, 2025.
✅ Roth contributions don’t lower your current-year taxes, but they provide tax-free withdrawals in retirement.

5. HSA Contributions for 2024 (Tax Deductible Until April 15, 2025)

✅ Health Savings Account (HSA) contributions are tax-deductible, reducing taxable income.
✅ Max contributions: $4,150 (self-only), $8,300 (family), plus $1,000 catch-up for 55+.

Final Thoughts

Don’t miss out on last-minute IRA, 401(k), and HSA contributions that can still lower your 2024 tax bill.

🚀 Next Steps:

- Contribute to a Traditional IRA by April 15, 2025.

- Max out self-employed retirement plans before filing.

- Consider an HSA contribution for additional tax savings.

🔗 Need more tax-saving strategies? Visit our Retirement Tax Savings Guide.

Traditional vs Roth IRA

Traditional vs. Roth IRA: Which One Lowers Your Taxes More?

Saving for retirement can also help you save on taxes, but choosing the right IRA is crucial. Here’s how Traditional IRAs and Roth IRAs affect your taxes differently.

1. How Traditional and Roth IRAs Affect Your Taxes

✅ Traditional IRA Contributions: Tax-deductible, reducing your taxable income now.
✅ Roth IRA Contributions: Not tax-deductible, but withdrawals are tax-free in retirement.
✅ Earnings in both accounts grow tax-free.

2. Tax Benefits of a Traditional IRA

📌 Reduces current taxable income.
📌 No taxes on contributions until withdrawal in retirement.
📌 Required minimum distributions (RMDs) start at age 73.

✅ Who Benefits Most?

- People expecting lower tax rates in retirement.

- Those who need deductions now to lower their 1040 tax bill.

3. Tax Benefits of a Roth IRA

📌 Pay taxes on contributions now, but withdrawals are 100% tax-free in retirement.
📌 No required minimum distributions (RMDs).
📌 Contributions can be withdrawn anytime without penalties.

✅ Who Benefits Most?

- People expecting higher tax rates in retirement.

- Younger workers with time for tax-free growth.

4. Contribution Limits & Income Rules

Account Type	2024 Contribution Limit	Tax Deductibility
Traditional IRA	$7,000 ($8,000 if 50+)	Deductible based on income & workplace plan
Roth IRA	$7,000 ($8,000 if 50+)	No deduction, but withdrawals are tax-free

✅ Income Limits for Roth IRA:

- Single Filers: Contributions phase out at $146,000–$161,000.

- Married Joint Filers: Contributions phase out at $230,000–$240,000.

5. Traditional vs. Roth IRA: Which One Should You Choose?

Factor	Traditional IRA	Roth IRA
Tax Benefit	Deducts taxes now	No tax benefit now, but tax-free later
Best for…	Lowering this year’s taxes	Tax-free retirement income
Required Minimum Distributions?	Yes, at age 73	No RMDs ever

🚀 Final Thoughts:

- Need tax savings now? Choose a Traditional IRA.

- Want tax-free retirement withdrawals? Choose a Roth IRA.

- Consider your income, future tax rates, and withdrawal needs before deciding.

🔗 Need more help? Visit our Retirement Tax Savings Guide.

Tax Filing Deadlines

Tax Filing Deadlines & Extensions: What You Need to Know

Missing a tax deadline can lead to penalties, interest, and IRS notices. Here’s everything you need to know about tax deadlines, late filing penalties, and how to request an extension.

1. Important Tax Filing Deadlines for 2025

📌 Tax Day 2025: April 15, 2025 – Deadline to file your federal tax return.
📌 Extension Deadline: October 15, 2025 – If you file for an extension.
📌 Quarterly Estimated Tax Payments:

Q1: April 15, 2025
Q2: June 17, 2025
Q3: September 16, 2025
Q4: January 15, 2026

🔗 Related: How to File Taxes for the First Time

2. What Happens If You File Late?

🚨 Failure-to-File Penalty: 5% of unpaid taxes per month, up to 25%.
🚨 Failure-to-Pay Penalty: 0.5% of unpaid taxes per month, up to 25%.
🚨 IRS Interest Charges: Accrue daily until balance is paid in full.

🔗 Need help? IRS Payment Plans & Tax Debt Relief

3. How to File a Tax Extension

If you need more time to file, request an automatic 6-month extension by April 15, 2025.

✅ Use IRS Free File or tax software to submit Form 4868.
✅ Mail Form 4868 if filing a paper return.
✅ An extension gives more time to file, NOT to pay taxes owed.

🔗 Learn more: Tax Filing Shortcuts

4. What If You Owe Taxes?

If you can’t pay by April 15, 2025: ✅ Pay as much as possible to reduce penalties.
✅ Set up an IRS installment plan.
✅ Consider Offer in Compromise if facing hardship.

🔗 Read more: How to Apply for an IRS Payment Plan

Final Thoughts

Mark your calendar with key tax deadlines and file early to avoid penalties and IRS notices. If needed, file an extension before April 15 to avoid late filing fees.

🚀 Next Steps:

File on time or request an extension.
Pay any taxes owed to minimize penalties.
Set up an IRS payment plan if needed.

🔗 Need more tax guidance? Visit our Tax Filing Shortcuts Guide.

Blog

1. Why Did You Receive an IRS Notice?

2. How to Read & Understand Your IRS Notice

3. What to Do If You Disagree With an IRS Notice

4. What to Do If You Owe Money

5. How to Contact the IRS About Your Notice

Final Thoughts

1. Federal Tax Filing Deadline

2. Tax Extension Deadline

3. Quarterly Estimated Tax Payment Deadlines (2025)

4. IRA & 401(k) Contribution Deadlines for 2024 Tax Savings

5. Other Key IRS Deadlines

Final Thoughts

1. IRS Payment Plans (Installment Agreements)

2. Offer in Compromise (OIC) – Settle Tax Debt for Less

3. IRS Fresh Start Program

4. Currently Not Collectible (CNC) Status

5. Penalty Abatement – Reduce or Remove IRS Penalties

Final Thoughts

1. Standard Deduction & Tax Bracket Adjustments

2. Changes to Tax Credits (CTC, EITC, & Saver’s Credit)

3. IRA & 401(k) Contribution Limits for 2025

4. Expanded IRS Enforcement & Audit Risk

5. Digital Payment Platforms (Venmo, PayPal, Cash App) Tax Reporting

Final Thoughts

1. What Is the Saver’s Credit?

2. Saver’s Credit Income Limits (2024)

3. Who Qualifies for the Saver’s Credit?

4. How Much Can You Get?

5. How to Claim the Saver’s Credit

Final Thoughts

1. SEP IRA: The Simplest Tax-Advantaged Plan for the Self-Employed

2. Solo 401(k): Maximize Retirement Savings as a Business Owner

3. SIMPLE IRA: A Retirement Plan for Small Businesses

4. Choosing the Best Self-Employed Retirement Plan

5. How to Set Up a Self-Employed Retirement Plan

Final Thoughts

1. What Is an HSA?

2. HSA Tax Benefits

3. How to Use Your HSA for Maximum Tax Savings

4. Who Can Open an HSA?

5. HSA vs. Flexible Spending Account (FSA)

Final Thoughts

1. Traditional IRA Contributions (Until April 15, 2025)

2. Self-Employed Retirement Contributions (Extended Until Tax Filing Deadline)

3. Employer 401(k) Contributions (Deadline: Dec 31, 2024)

4. Can You Still Contribute to a Roth IRA for 2024?

5. HSA Contributions for 2024 (Tax Deductible Until April 15, 2025)

Final Thoughts

1. How Traditional and Roth IRAs Affect Your Taxes

2. Tax Benefits of a Traditional IRA

3. Tax Benefits of a Roth IRA

4. Contribution Limits & Income Rules

5. Traditional vs. Roth IRA: Which One Should You Choose?

1. Important Tax Filing Deadlines for 2025

2. What Happens If You File Late?

3. How to File a Tax Extension

4. What If You Owe Taxes?

Final Thoughts