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October 2024

Three people engage in a discussion in a modern office, surrounded by colorful sticky notes on glass walls. A laptop sits on the table as they explore investing as limited partners, considering the prospects of generating passive income while mindful of potential losses.

Investing as a Limited Partner and Passive Income/Losses: Key Insights and Strategies

Tax Corner I Blog, Tax Planning & Strategy

As a limited partner, you’re stepping into a unique position in the investment world that allows for an intriguing blend of participation and passivity. Often, the income derived from your role within a partnership is classified as passive income, which offers both tax benefits and potential challenges. This categorization is often beneficial since passive losses […]

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Three people at a wooden table are immersed in comparing Solo 401k vs SEP IRA options, analyzing documents and using a calculator. One person diligently writes notes to capture their findings.

Solo 401k vs SEP IRA: Key Differences for Retirement Planning

Retirement, Tax Corner I Blog, Tax Planning & Strategy

When planning your retirement savings as a self-employed individual, understanding the differences between a Solo 401k vs SEP IRA is crucial. The Solo 401(k) often offers higher contribution limits and the ability for those aged 50 and above to make catch-up contributions, a feature not available with a SEP IRA (Simplified Employee Pension IRA). This

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