Taxes - FinanceMythBusters

BUSTED: The $10,000 Myth About Maxing Out Your 401(k) at Year-End

Leave a Comment / Debunking Myths, Investing & Retirement Planning, Saving & Budgeting, Taxes / financemythbusters.com

The Myth: I can wait until December or even the tax deadline (April 15th) to contribute the bulk of my retirement savings and still get the full benefits. The Truth: While IRA contributions can be made retroactively, waiting until the end of the year to fund your 401(k) is one of the most common and […]

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Can You Really Write Off Everything as a Small Business Owner?

As a small business owner, you’ve probably heard people say, “Just write it off, it\’s a business expense!” But is that really how it works? Many entrepreneurs believe that owning a business gives them free rein to deduct almost any expense. Unfortunately, the IRS has clear rules on what qualifies as a legitimate business deduction.