Carry Learning Center

Earning both W-2 and 1099 income opens the door to extra retirement contributions — but it also adds complexity. If you already have a 401k through your employer and want to set up a Solo 401k for your side business, the IRS has strict coordination rules you must follow. It’s easy to make honest mistakes that [...]

Freelance marketers and small marketing agency owners have several ways to lower their 2025 taxes and potentially grow long-term wealth. Success starts with understanding how business expenses and retirement contributions work under IRS rules. Everyday costs such as advertising, campaign tools, and creative software may qualify as deductions—and these deductions can free up cash for [...]

Earning 1099 income puts you in control of your work and your financial future. Unlike traditional employees, independent contractors are responsible for setting up their own retirement plan, which can impact both long-term savings and current tax liability.  The good news is there are tax-advantaged plans designed specifically for self-employed individuals. Each one comes with its [...]

Selling online is more than finding a popular product. It is also about keeping more of your earnings. Every cost in an e-commerce business, from packaging to advertising, can affect your 2025 tax bill. Smart sellers usually plan ahead instead of waiting until April. Tracking eligible deductions and contributing to a retirement plan like a Solo [...]

Most S-Corp owners are surprised to learn that not all business income is treated equally when it comes to retirement savings. Only W-2 wages count toward contribution limits, while shareholder distributions are excluded — and that single rule can determine how much you can set aside each year. This affects which retirement plan may be [...]

Consultants and agency owners have unique opportunities to lower 2025 taxes and build long-term wealth — but only if you know which deductions apply to your situation and how retirement contributions affect your taxable income. The right moves can reduce what you owe this year and redirect those dollars into future savings instead of taxes. Not [...]

Starting January 1, 2026, millions of Americans who gamble will owe federal taxes on money they never actually kept. A provision buried in President Trump’s sweeping tax and spending bill caps gambling loss deductions at 90% of winnings, creating what industry groups call “phantom income” taxation that hits even gamblers who break even or lose [...]

The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation have jointly released informational copies of the 2025 Form 5500 series, marking annual updates to the mandatory filing requirements for employee benefit plans. These forms serve as the federal government’s primary tool for monitoring the financial health and operations of retirement and welfare [...]

The IRS Criminal Investigation (IRS-CI) division released its fiscal year 2025 annual report showing record-breaking results in uncovering financial crimes. The agency identified $10.59 billion in financial crimes from October 2024 through September 2025, representing a 15.7% increase from the previous year. Tax fraud alone accounted for $4.5 billion of these findings, marking a 111.8% [...]