Carry Learning Center

Imagine looking at your finances and realizing debt is shaping more of your life than you thought.  In mid‑2025, U.S. household debt reached over $18.3 trillion, covering mortgages, student loans, auto loans, and credit cards. Debt levels vary widely by age, career stage, and life choices, and understanding these patterns can help you make more informed [...]

Self-employment can take many forms. Some people run small online shops. Others offer professional services or work as independent contractors. Together, they make up a significant portion of the U.S. workforce. As of May 2025, around 16.8 million Americans were self-employed. That’s about 10.3 percent of the total workforce. This figure includes roughly 6.7 million incorporated [...]

Understanding Solo 401k rules can get more complicated once part-time employees enter the picture. Starting in 2025, the SECURE Act 2.0 requires certain long-term, part-time workers to be included in retirement plans. This means small-business owners and self-employed individuals need to know which employees qualify, how contributions are handled, and what compliance steps apply. For example, [...]

A non-recourse loan lets you finance a property without putting personal assets at risk beyond the collateral. This type of financing can appeal to real estate investors who want to protect personal wealth or developers looking for project funding.  In this guide, we’ll explain what non-recourse loans are, highlight their benefits and risks, and cover qualification [...]

Most people with a workplace retirement plan, like a 401k, may not realize it’s governed by a law called ERISA — the Employee Retirement Income Security Act of 1974. This law sets the rules that keep plans fair, transparent, and properly funded.  For employers, it means meeting specific standards when offering retirement benefits. For employees, it [...]

Market ups and downs, inflation concerns, and global uncertainty often push retirement savers to look beyond traditional stocks and bonds. Gold is frequently viewed as a tangible store of value and a potential safeguard. For many, the question becomes simple: Can you invest in gold through a 401k? The short answer is yes, but not always in [...]

Saving for retirement can feel complex, especially if you are eligible for multiple tax-advantaged plans. Some individuals have access to both a 457b and a Solo 401k and want to understand how to contribute to each without exceeding IRS limits.  In 2025, the elective deferral limit for both plans is $23,500, though eligibility rules and contribution [...]

Deciding who will inherit your 401k is more than just paperwork. It’s about making sure the savings you worked for actually help the people you intend. When the beneficiary isn’t a spouse, the rules can feel less straightforward, and mistakes may leave loved ones with stress instead of security. This guide walks through what it means [...]

Americans are living longer, and healthcare costs continue to rise. That makes retirement savings a growing concern for many households. Yet the Federal Reserve’s 2022 Survey of Consumer Finances found that nearly half of U.S. families had no retirement accounts at all. For those who do save, the 401k is often the backbone of their plan. [...]

The Internal Revenue Service announced significant increases to retirement account contribution limits for 2026, providing Americans with greater opportunities to save for their future. The annual 401k contribution limit will rise to $24,500, up from $23,500 in 2025, while IRA contribution limits will increase to $7,500 from $7,000. These adjustments, detailed in IRS Notice 2025-67, reflect [...]

The IRS has significantly expanded its free email newsletter offerings, now providing over 20 specialized subscription options to help taxpayers stay current on tax law changes, filing requirements, and important updates. These e-News subscriptions cover everything from basic tax tips to specialized guidance for business owners, tax professionals, and specific industries affected by recent legislation. The [...]

The IRS announced penalty relief for employers struggling to comply with new reporting requirements for cash tips and overtime pay under recently enacted federal legislation. For the 2025 tax year, employers will not face penalties for failing to separately report cash tips, employee occupations, or qualified overtime compensation on tax forms. This transition period recognizes that [...]

The IRS has established a comprehensive Taxpayer Bill of Rights that outlines 10 fundamental protections designed to ensure fair treatment and transparency for all taxpayers. These rights, codified in IRS Publication 1 and under Internal Revenue Code §7803(a)(3), are intended to safeguard individuals and businesses throughout any interaction with the nation’s tax collection agency. The bill [...]

The IRS has issued new guidance clarifying that the Form 1099-K reporting threshold has been restored to $20,000 and 200 transactions. This reverses earlier plans to lower the threshold under phased rollout guidance. The change stems from the One, Big, Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, which applies retroactively to [...]

The IRS released new guidance limiting Employee Retention Credits (ERC) for businesses that filed claims for the third and fourth quarters of 2021 after January 31, 2024. The guidance, outlined in Fact Sheet 2025-07, addresses restrictions enacted under recent legislation known as the One, Big, Beautiful Bill. Under these new rules, businesses that submitted ERC claims [...]

The IRS has issued guidance for a new tax benefit that allows individuals to deduct interest paid on car loans for qualifying new vehicles. This update stems from the One, Big, Beautiful Bill Act (H.R. 1), which established the new personal car-loan interest benefit referenced by the IRS. IRS Notice 2025-57 (IR-2025-105, Oct. 21, 2025) provides transitional [...]

The Internal Revenue Service (IRS) has experienced significant leadership transitions and operational shifts over the past three years, including recent workforce adjustments under the current administration. Danny Werfel took over as IRS Commissioner in April 2023, replacing Charles Rettig, who completed his term after overseeing the agency through unprecedented pandemic relief efforts. During Rettig’s tenure, the [...]

The Internal Revenue Service (IRS) reminded taxpayers today that those who filed extensions for their 2024 tax returns must submit their filings by October 15, 2025—tomorrow at midnight. In a statement released October 14, 2025, the agency clarified that the ongoing federal government shutdown does not alter existing tax filing obligations or statutory deadlines. The IRS [...]