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We walk through our sequence for retirement contributions! Here's how we invest our money as accountants!

• Start with any employer matching funds available - it's free money and an immediate 100% return
• Max out a Roth IRA if eligible ($7,000 limit for 2025, $8,000 if over 50)
• Aim to save 15% of income for retirement (12-20% range is generally recommended)
• Business owners should consider a Solo 401(k) rather than SEP IRA when operating as an S-corp
• Solo 401(k)s allow both employee contributions (up to $23-24k) and employer contributions (25% of salary)
• Once all tax-advantaged accounts are maxed, use a taxable brokerage account for additional savings
• Coordinate retirement planning between your CPA and financial advisor, especially when changing salary levels

Email us at carson@sansconcierge.net for accounting help or to schedule a monthly accounting call where we can help with bookkeeping, tax planning, and business decisions.

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The big, beautiful tax bill brings welcome news for taxpayers with lower tax brackets being preserved, an increased standard deduction, and a higher child tax credit of $2,500 per child. Seniors will especially benefit from an additional $6,000 deduction per person regardless of whether they itemize or take the standard deduction.

• Lower tax brackets from the Tax Cut and Jobs Act will remain in place
• Standard deduction stays at $15,750 for single filers and $31,500 for married couples
• Child tax credit increased from $2,000 to $2,500 per child through 2028
• Seniors get an extra $6,000 deduction per person ($12,000 for married couples)
• Tips now excluded from income tax up to $25,000 annually
• Overtime is taxed only at your regular hourly rate, not at the higher overtime rate
• Auto loan interest deductible up to $10,000 for vehicles finished in the USA
• SALT deduction cap increased from $10,000 to $40,000 through 2029
• 100% bonus depreciation returns starting January 19, 2025, through 2028
• 1099 reporting threshold increased from $600 to $2,000 beginning in 2026
• Income limitations apply to many benefits: $150K for singles, $300K for married couples

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Ever been shocked by a massive tax bill in April? Let's not let that happen again! For business owners, freelancers, and anyone with significant non-W2 income, estimated tax payments necessary.

The IRS rules have changed in recent years. While the IRS used to charge around 3% for missing these payments, that penalty has increased. Now more than ever it is important to make your estimated tax payments!

The good news is that navigating estimated tax payments is manageable with the right approach. In this episode we walk you through how to make estimated tax payments and answer all the common questions we receive about them.

Take control of your tax situation by planning ahead. Your future self will thank you! Share this with a friend who complains every April about owing too much – you might just save them from the next tax-time panic!

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