A large investment loss rarely disappears the moment the tax year ends. Under IRS rules, a capital loss that exceeds what can be used in a single year carries forward indefinitely — meaning a loss realized years ago may still be sitting on a return today, quietly available to offset a future gain. Many investors lose track of these carryovers simply by changing tax preparers or software. Here is how a capital loss carryover actually works for 2026. How a Capital Loss Offsets

A tax return is rarely perfect the first time, and the IRS built a specific mechanism to correct it: Form 1040-X, the amended return. A late-arriving Schedule K-1, a corrected 1099, a missed deduction discovered after filing, or a change to filing status can all require one. Understanding when an amendment is actually necessary — and the deadlines that govern claiming a refund through one — keeps a correctable error from becoming a permanent lost opportunity. What Form 1040-X

Over six parts, this series walked through 401(k) employee deferrals, employer matching and vesting, safe harbor design, the SEP-IRA, profit-sharing formulas, and stacking a 401(k) with a cash balance plan. This final installment steps back and puts all five structures side by side, because the right answer for any given business owner depends entirely on age, income, employee census, and cash flow — not on which plan sounds the most sophisticated. The Decision Starts With Tw

Parts 1 through 5 of this series covered 401(k) deferrals, matching, safe harbor design, the SEP-IRA, and profit-sharing formulas. Even fully maximized, these defined contribution structures cap out at a fixed dollar figure. For a business owner in peak earning years who has already reached that ceiling, layering a cash balance plan on top is the mechanism that allows substantially more to be sheltered — governed by a specific IRS combined deduction rule most business owners

Parts 1 through 4 of this series covered the 401(k) building blocks and the SEP-IRA. A profit-sharing plan is not a separate account type — it is a discretionary employer contribution feature that can be layered onto a 401(k), funded after the year ends, using one of several IRS-approved formulas. For a business owner, the formula chosen can mean a dramatically different outcome for how much of that contribution actually lands in the owner's own account. What a Profit-Sharing

Parts 1 through 3 of this series covered the 401(k) — employee deferrals, employer matching, and safe harbor design. The Simplified Employee Pension, or SEP-IRA, takes a completely different approach: no employee deferrals at all, minimal paperwork, and a contribution formula built entirely around the employer's decision each year. For a business owner who wants meaningful contribution capacity without 401(k)-level administration, here is exactly how the SEP-IRA works under I

Business owners maxing out their own 401(k) contribution often run into an unwelcome surprise: a failed nondiscrimination test that forces a refund of their own deferrals. The safe harbor 401(k) exists specifically to prevent this. Following Parts 1 and 2 on employee deferrals and employer matching, this installment covers the plan design that lets owners and highly compensated employees contribute the maximum, every year, without annual testing risk. Why Standard 401(k) Plan

In Part 1 of this series we covered the employee elective deferral — money that is always fully and immediately yours. Employer contributions work under a different set of rules entirely, and understanding the difference matters for anyone weighing a job change, negotiating compensation, or simply planning around when unvested dollars actually become theirs. Here is how employer matching and vesting actually work under IRS rules for 2026. Employer Contributions Are a Separate

Every retirement plan strategy for a business owner or professional starts with the same building block: the employee elective deferral. This is the portion of a 401(k) that comes directly out of your own paycheck, before any employer contribution enters the picture, and it is where our seven-part series on retirement plans as tax planning tools begins. Here is exactly what the IRS allows for 2026, and the rule that changed for high earners. What an Elective Deferral Actually

Irvine's home values have appreciated dramatically since the city's master-planned communities were first built, which means many longtime Irvine and Orange County homeowners carry a property tax base far below what their home would generate if purchased today. Proposition 19, passed by California voters in 2020, fundamentally changed what happens to that low tax base when the property passes to the next generation. For Irvine families holding inherited property purchased dec