Carry Learning Center

Long hauls, tight schedules, and fluctuating expenses make it easy for trucking income to feel unpredictable. Many owner-operators want to keep more of what they earn, yet the rules that shape taxes and retirement planning often feel complex or unclear. Some IRS deductions apply to daily costs on the road. Others relate to equipment, maintenance, or [...]

Oregon lawmakers approved legislation Wednesday that breaks the state’s automatic link to specific federal tax breaks, a move projected to recover nearly $900 million in state revenue over the next two years. The House passed SB 1507 more than a week after Senate approval, sending the measure to Governor Tina Kotek for her expected signature. The [...]

The IRS and Treasury Department announced Wednesday they plan to issue simplified regulations for calculating foreign currency gains and losses, potentially cutting compliance costs for the roughly 25,000 U.S. companies operating foreign business units. Notice 2026-17 signals a shift back toward methods proposed over three decades ago that many tax professionals had long advocated for. The [...]

The South Carolina Senate approved sweeping changes to the state’s income tax system Tuesday, voting 39-5 to decouple from federal tax rules and reduce rates for most filers starting with returns due in spring 2027. The amended legislation now heads back to the House, where lawmakers must decide whether to accept the Senate’s version or [...]

After a spouse passes away, a retirement account can come with decisions that feel overwhelming. One choice can affect taxes, access to cash, and when required withdrawals begin. A spousal rollover lets a surviving spouse move eligible inherited retirement funds into an account in their own name. After the rollover, the account is generally treated as [...]

Tax season often hits differently when you are self employed. Income can fluctuate throughout the year, and taxes are not withheld from each payment you receive. Even when business is strong, the timing of tax bills can still feel unexpected. A year-round approach can make those moments more predictable. Planning ahead gives you more visibility into [...]

Running a one person business means your retirement plan is your responsibility. There is no HR department setting up a traditional 401k for you.  The good news is that the IRS allows sole proprietors to use retirement plans that could reduce taxable income and create the potential for long term investment growth. The challenge is choosing [...]

Many high earners reach the regular 401k employee limit and still want more room for tax-advantaged retirement savings. Roth accounts may feel appealing because withdrawals in retirement are generally tax-free, yet income limits and plan rules often make direct Roth contributions unlikely. That is why strategies like the backdoor Roth IRA and the Mega Backdoor [...]

Tax season often feels like the finish line, yet the result is shaped by choices and events throughout the year. A job change, a raise, side income, a move, or a growing family can all affect what you owe. Tax rules also change over time, so last year’s approach may no longer apply today.  Tax planning [...]