Carry Learning Center

Planning for tax-free growth in retirement can feel complicated, but a Roth IRA can make it more manageable if you follow IRS rules.  This guide explains the 2025 contribution limits, key deadlines, and practical strategies to help you capture potential tax-free growth while avoiding excess-contribution mistakes. Before funding a [...]

Running your own business does not mean missing out on the tax benefits often available to employees at larger companies. A Solo 401k can potentially help freelancers, consultants, and single-member LLC owners defer ordinary income taxes and save meaningful dollars for retirement in a tax-advantaged way.  For 2025, the IRS has increased employee contribution limits and [...]

Missing a deadline or misunderstanding income rules could reduce your tax benefits. In 2025, the IRS set the Traditional IRA contribution limit at $7,000 for individuals under age 50, or $8,000 for those age 50 and older. Income thresholds for deductibility and Roth eligibility have also increased, which may affect how much of your contribution [...]

The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation have jointly released informational copies of the 2025 Form 5500 series, marking annual updates to the mandatory filing requirements for employee benefit plans. These forms serve as the federal government’s primary tool for monitoring the financial health and operations of retirement and welfare [...]

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 [...]

The IRS Criminal Investigation (IRS-CI) division released its fiscal year 2025 annual report showing record-breaking results in uncovering financial crimes. The agency identified $10.59 billion in financial crimes from October 2024 through September 2025, representing a 15.7% increase from the previous year. Tax fraud alone accounted for $4.5 billion of these findings, marking a 111.8% [...]

The Treasury Department and IRS have issued new guidance allowing states to prepare for a federal tax credit program that could save taxpayers up to $1,700 annually on their federal taxes. Revenue Procedure 2026-6, released December 12, 2025, establishes the framework for states to participate in a new federal tax credit for contributions to Scholarship [...]

The Internal Revenue Service kicked off the 10th National Tax Security Awareness Week this December, highlighting the growing threat of tax-related identity theft and scams during the holiday season. The initiative, led by the Security Summit coalition of IRS officials, state tax administrators, and tax software companies, aims to protect taxpayers as criminals increasingly target [...]

The IRS has released new guidance clarifying how workers can claim tax deductions for tips and overtime pay received during 2025. Notice 2025-69, published on November 21, provides detailed instructions for approximately 6 million tipped workers and overtime earners on how to calculate and claim these new deductions without requiring additional forms from their employers. Under [...]

The IRS announced it will maintain current interest rates for the first quarter of 2026, keeping the rate at 7% annually for individual taxpayers who owe money or are owed refunds. The rates, which take effect January 1, 2026, represent a continuation of the current structure that has been in place since early 2025. For individuals, [...]

The IRS has launched its annual “Get Ready” campaign for the 2026 filing season, encouraging taxpayers to begin preparing now for filing their 2025 tax returns early next year. This year’s preparation is especially important as the One, Big, Beautiful Bill brings significant changes to federal taxes, credits, and deductions that will affect millions of [...]

The IRS is reminding tax professionals across the country that they have until December 31, 2025, to renew their Preparer Tax Identification Numbers (PTINs). Anyone who prepares tax returns for compensation must have a valid PTIN, and these credentials expire at the end of each year. The renewal process takes about 15 minutes to complete online [...]

The IRS has expanded its educational offerings for tax professionals by adding 15 new seminars to its Nationwide Tax Forum Online platform. The seminars cover current tax law updates, procedural changes, and essential topics for the 2025 tax season, including specialized sessions on retirement plan distributions and digital asset reporting requirements. Tax professionals can access these [...]

Saving for retirement can feel overwhelming, especially with shifting rules on how much you can contribute and when. But in 2025, knowing the right numbers and deadlines could help you save more and avoid costly mistakes.  Whether you’re eyeing an IRA, Roth IRA, or a Solo 401k, there are crisp contribution limits, deadlines, and catch-up rules [...]

What does the typical American earn at ages 22, 45, or even 65? As careers unfold, income usually climbs, peaks, and eventually levels off — but exactly how, and when?  In this article, we explore the latest data from the U.S. Bureau of Labor Statistics (BLS), SmartAsset, and research on financial literacy by age to reveal [...]

Spending habits often mirror the time you grew up in and the stage of life you’re in now. According to the latest Consumer Expenditure Survey from the Bureau of Labor Statistics, households led by Americans aged 35 to 54 spent about $93,000 in 2023. Those under age 35 averaged under $63,000, while people age 65 [...]

Owning a home is often viewed as a cornerstone of long-term financial security in the United States. Yet the path to achieving it can look very different depending on age, income, and life stage. Younger buyers often juggle rising prices, limited savings, and tighter lending standards. Older homeowners, on the other hand, may hold substantial equity [...]

Credit card balances in the U.S. have climbed to levels that are putting more pressure on households than ever. Interest charges grow quickly, and repayment patterns look very different across generations. Some age groups carry far heavier balances, shaped by income, spending habits, credit access, and major life events. Here’s a closer look at how debt [...]