Filing the Form 5500-EZ for your solo 401k plan is super easy but you have to remember to file it. I use these the plan characteristics codes.
Latest Blog Posts
Covid Retirement Account Withdrawal in TurboTax and H&R Block
If you withdrew from your retirement account due to COVID in 2020, follow this to get the special tax treatment in TurboTax and H&R Block tax software.
ACA Health Insurance Enrollment: Request Subsidy Upfront Or Not
Although you will be required to submit more documentation, you should estimate your income as low as possible and get the highest premium subsidy upfront.
How To Enter Mega Backdoor Roth In H&R Block Tax Software
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into H&R Block tax software.
How To Enter Mega Backdoor Roth in FreeTaxUSA: A Walkthrough
Follow these easy step-by-step explanation with screenshots when you enter the 1099-R form for your mega backdoor Roth into FreeTaxUSA.
When TurboTax and H&R Block Give Self-Employed Wrong ACA Subsidy
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
Make Backdoor Roth Easy On Your Tax Return
Many investors are confused when they report Backdoor Roth on their tax return. It’s very clean if you learn how to do it the easy way.
Make Fewer Things Matter: My Epiphany From Cutting A Pineapple
Making fewer things matter helps you focus attention and ward off FOMO and sales pitches. You’ve made it when you can afford all the “mistakes.”
Foreign Tax Credit With Form 1116 In TurboTax and H&R Block Software
You need a Form 1116 when your total foreign taxes paid is over $300/$600. Here’s a walkthrough for how to do it in TurboTax and H&R Block software.
Self-Employed ACA Health Insurance Subsidy In H&R Block Tax Software
If you’re self-employed and you buy health insurance from the ACA exchange, here’s how to use H&R Block software to calculate the subsidy and tax deduction.