Generally, you can contribute up to $6,000 of your earnings for the tax year 2019 (up to $7,000 if you are age 50 or older in 2019). You can fund a traditional IRA, a Roth IRA (if you qualify), or both, but your total contributions cannot be more than these amounts.
While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of.
Choosing a legal entity is one of the most important decisions you’ll ever make as a small business owner. Here’s what you need to know.