Carry Learning Center

A sudden boost in freelance income, a profitable stock sale, or even a large bonus might feel rewarding until the IRS expects its share. The U.S. tax system runs on a pay-as-you-go schedule, which means taxes must be paid throughout the year, not just at filing time. Anyone who expects to owe at least $1,000 in [...]

Driving, delivering, or freelancing can give you flexibility and control over how you earn. But when income changes from week to week, keeping up with tax payments can feel confusing or unpredictable. Many independent workers are surprised to learn that taxes aren’t automatically withheld and that the IRS still expects payments throughout the year. Understanding how [...]

Freelancers, gig workers, and small-business owners often face uneven cash flow — and with it, the risk of IRS underpayment penalties. When income fluctuates throughout the year, dividing estimated taxes evenly across quarters can feel unfair. The Annualized Income Installment Method (AIIM) helps address that by aligning each payment with what you actually earned during [...]

Here’s something worth exploring if you run a business. The Qualified Business Income (QBI) deduction under Internal Revenue Code Section 199A can allow certain business owners to reduce taxable income by up to 20% of qualified earnings. It may also apply to specific REIT dividends and income from publicly traded partnerships. Sole proprietors, partners, S corporation [...]

Are you moving through your financial milestones with a clear plan to capture each new tax advantage? New rules under Congress’s SECURE 2.0 law push the age for required minimum distributions to 73 and raise catch-up contributions for people ages 60 to 63. For 2025, the IRS sets contribution limits at $23,500 for 401k plans and [...]

Being self-employed gives you the freedom to work from anywhere. But where you choose to live can have a major impact on your income, expenses, and long-term financial goals. From rising rent prices to the 15.3% self-employment tax most independent workers owe, location matters more than many realize. To help you make a more informed move, [...]

Imagine reducing your next taxable income by as much as $7,000, simply by changing how a portion of your paycheck is allocated.  Pretax contributions allow you to direct part of your earnings into a traditional IRA or 401k before income taxes are applied. This may reduce your taxable income today, and your savings can potentially grow [...]

If you’re self-employed and using a Solo 401k to save for retirement, you may be wondering — can you actually trade stocks within the plan?  The short answer: Yes. But there are important tax rules and compliance issues to understand before placing your first trade.  This article is designed to help Solo 401k holders understand how stock [...]

When it comes to your investment returns, taxes can take a bigger bite than you might expect. Beyond federal taxes, state and local taxes (SALT) can also affect how much you actually keep. These extra layers of tax vary based on where you live and what types of investments you hold. That’s why understanding how [...]