Carry Learning Center

Tax scammers increasingly target small business owners with sophisticated schemes designed to exploit business tax forms, payroll systems, and professional relationships. The IRS’s 2026 “Dirty Dozen” list highlights threats that go far beyond the simple phishing emails most people recognize. Business owners face unique vulnerabilities around payroll withholding manipulation, ghost tax preparers who vanish after filing, [...]

High earners often face a frustrating reality. Direct Roth IRA contributions phase out quickly once your income crosses certain thresholds. That leaves the Mega Backdoor Roth as one of the most powerful tools for building tax-free retirement savings. If you work multiple jobs or have access to several employer plans, you might wonder whether opening [...]

Small business owners face a hidden tax complexity in 2025 and 2026. Federal tax law changes like the OBBBA Act have altered deductions for research expenses and bonus depreciation. States, however, do not automatically follow these changes. Some states adopt federal updates immediately. Others lock into older tax code versions and require new legislation each [...]

If you freelance as a developer, it may be possible to open a Solo Roth 401k before tax season and still make it count for the current tax year. The key issue is timing. Many self-employed workers focus on when they can fund the account. In many cases, the more important question is when the [...]

Even if December has not arrived yet, it is worth understanding the deadline now if you are thinking about opening a Roth IRA. Many people assume they need to open and fund the account before year end to get that year’s contribution treatment. In most cases, that is not true. The IRS generally gives you [...]

Opening a Roth Solo 401k for your LLC sounds complicated, but the document list is shorter than you might expect. The catch? Missing even one key piece of paperwork can delay your plan or lock you out of important features like catch-up contributions. Starting in 2026, new IRS rules make Roth provisions mandatory for certain high [...]

Tax law changes can hit fast, and the 2026 updates from the One Big Beautiful Bill Act are no exception. Employers face new W-2 codes, higher 1099 reporting thresholds, and expanded deductions that affect payroll systems, employee communications, and filing deadlines. These changes apply to forms filed in 2027 for the 2026 tax year, but [...]

Opening a Roth IRA as a startup founder requires surprisingly few documents. A Roth IRA is always an individual retirement account. You open it in your personal name, not as a company benefit plan. The good news? You typically need just two personal identification documents to get started. The key challenge lies in proving you have [...]

Virginia’s 2026 budget negotiations have introduced a handful of tax policy changes that could affect how small business owners plan for the year ahead. The proposals include scaling back certain business interest deductions, phasing out a major data center tax exemption, and increasing standard deductions for individual filers. Some of these changes create new costs. [...]

The IRS issued guidance last week allowing businesses to reverse or make certain tax elections affected by changes in the One Big Beautiful Bill Act, giving some companies a way to revise positions taken under earlier rules. Revenue Procedure 2026-17 covers three areas. It allows eligible businesses to withdraw elections to be treated as excepted trades [...]

A bipartisan bill introduced this week in the House of Representatives would extend full floor plan financing interest deductions to semi-trailer dealers, addressing what industry advocates call an unfair tax disadvantage that has strained cash flow for local dealerships across the country. Representatives Blake Moore, a Republican from Utah, and Norma Torres, a Democrat from California, [...]

The US Tax Court is considering how to respond to the use of artificial intelligence in court filings after attorneys and litigants submitted briefs citing cases that do not exist, according to Judge Mark V. Holmes. Holmes said the court is proceeding cautiously because more than three-quarters of its cases involve self-represented taxpayers rather than lawyers. [...]

St. Louis County Executive Sam Page signed legislation Friday placing a county use tax on the August 4 ballot, setting up a vote on a measure that county officials said could generate between $50 million and $75 million a year from remote purchases. If approved by voters, Proposition U would impose a 2.263 percent use tax [...]

Ohio’s sweeping property tax reform package became law Friday, March 18, delivering over $3 billion in estimated savings through five bills that cap tax increases tied to rising home values and shift more relief toward homeowners. Governor Mike DeWine signed the legislation in December 2025 after more than a year of Statehouse deliberations, marking what [...]

The Hawai’i Tax Fairness Coalition on Thursday urged lawmakers to raise taxes on the state’s highest earners, backing six bills that remain alive at the midpoint of the 2026 legislative session and would change Hawaii’s tax structure to direct more revenue to housing, education, health care, and climate programs. The coalition outlined its position at a [...]

A bipartisan bill introduced in the House Ways and Means Committee would temporarily exempt certain retroactive Social Security payments from federal income tax, a proposal aimed at retirees who began receiving restored benefits after Congress repealed two long-standing provisions that had reduced payments for some public sector workers. The measure, called the No Tax on Restored [...]

A new federal tax deduction allows some car buyers to deduct up to $10,000 in annual loan interest on new vehicles assembled in the United States through 2028. The deduction was created under the One Big Beautiful Bill Act, which was signed into law on July 4, 2025, and applies to qualifying vehicles purchased after [...]

Michigan workers who earn tips and overtime pay will not be able to claim new state tax deductions when they file returns this spring for 2025 income. The deductions will apply beginning with income earned in 2026, which means the first Michigan returns claiming them will be filed in early 2027. The deductions were included in [...]