Carry Learning Center

The Internal Revenue Service will stop mailing paper checks for federal tax refunds beginning with the 2026 filing season. The change applies to returns filed for tax year 2025, with the filing deadline set for April 15, 2026 for most taxpayers. The change follows an executive order President Donald Trump signed in March 2025 directing federal [...]

The U.S. Court of Appeals for the Fifth Circuit ruled that limited partners may qualify for an exception from self employment taxes based on their legal status as limited partners with limited liability, rejecting an IRS interpretation that tied the exception to whether a partner was a passive investor. The decision in Sirius Solutions, L.L.L.P. [...]

The South Carolina Senate Finance Committee advanced two separate tax bills Tuesday that would reduce income taxes for some residents and expand property tax relief for homeowners age 65 and older. The committee moved forward the House passed income tax bill without changes and advanced a separate measure to expand the state’s Homestead Exemption. Together, [...]

Roth conversions can offer long-term tax advantages, but they come with short-term consequences you need to plan for. When you move money from a traditional IRA or 401k into a Roth account, the conversion is taxable in the year it happens. Once completed, you can’t undo it. The 2025 tax year brings extra pressure to get [...]

It’s easy to forget about Form 8606 until the IRS sends a surprise tax bill.  If you’ve ever added after-tax money to a traditional IRA or used the backdoor Roth strategy, this simple but important form helps you avoid being taxed twice on the same dollars. Form 8606 tells the IRS which portion of your IRA contributions [...]

If you have a 403b or 401a from a previous job, you might be thinking about what to do with it next. Maybe you’re changing employers or trying to simplify multiple retirement accounts. Either way, a rollover can help keep your savings tax-deferred and on track toward long-term goals. This guide walks through the eligibility rules, [...]

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 [...]