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Here's Why a Roth IRA Offers Incredible Tax Savings in Retirement

The Motley Fool

Taxes in retirement can become complicated fast with income coming from several sources. A Roth IRA can help simplify your taxes while offering incredible savings. Opening up an account sooner rather than later can help you position your finances to keep your tax bill low in retirement. First is when you pay taxes.

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Why I'm Considering Selling Pfizer for Tax-Loss Harvesting Purposes

The Motley Fool

As the year comes to an end, it's time to think about which stocks to sell for tax-loss harvesting. in 2023, making it a prime candidate for tax-loss harvesting. The silver lining is that I can use its shares to reduce my tax liability for the year, which is a net positive. That's fine. It happens sometimes.

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Navigating Tax Time: Tips for Filing Your K-1 Form

Zajac Group

For most people, tax time can be a headache—though for earners with traditional compensation packages, it can at least be fairly predictable (W-2 wages, withheld taxes, 401(k) contribution deductions, etc.). Each taxpayer receives a copy of their K-1, which they then use to complete their own tax return.

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Do You Need a Lawyer to Incorporate Your Business?

The Motley Fool

This means I filed Articles of Incorporation with my state as well as some forms with the IRS to specify that I wanted to operate my company as a specific kind of corporation called an S-corp. Image source: Getty Images Many years ago, I incorporated my small business. Here's what you need to know.

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Can I Sell My Business If I Owe Taxes

Hedgestone

As a business owner, you may be wondering if you can sell your business if you owe taxes. The answer is yes, but it is essential to understand the implications of selling a business that owes taxes. Taxes can be a significant factor in determining the value of your business, and they can also complicate the sales process.

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Is Buying an EV Really Better for the Environment? Or Your Wallet?

The Motley Fool

Meanwhile, others are considering an EV purchase thanks to expanded and updated tax credits. According to a recent article in The New York Times , in most cases, EVs contribute far less carbon emissions than gas-powered vehicles do. You can view a complete list of qualifying vehicles in The Ascent's EV tax credit guide.

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4 Unexpected Challenges in Starting a Small Business and How to Overcome Them

The Motley Fool

Forming an LLC or other legal business entity If you want to make your business "official" in the eyes of the law, you need to form a limited liability company (LLC), S Corporation, or other legal business entity. It lets you get an Employer ID Number (tax identification number, like a Social Security number for your business).

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