Browsing Category : Taxes

Our Huge Tax Bill… Oops


You know what’s fun during tax season?  A call from your accountant. Why is he calling?  Taxes are due in 2 days, he usually just emails that everything is done, and then we e-sign it. Something must be up. So, I pick up the phone, “Hey, what’s going on?” I just wanted to call to discuss your tax situation with…

Executing the Elusive Mega Backdoor Roth


Welcome to Part 5 of the FIRE small business series. You can see the Introduction and summary of what we are talking about here.  You should also read the disclaimer: ***Disclaimer *** This is written for educational purposes.  I am writing to explain my understanding of these principles.  Please, do your own research and talk to a licensed professional before…

Setting Up a Big Boy 401k


Welcome to Part 4 of the FIRE small business series. You can see the Introduction and summary of what we are talking about here.  You should also read the disclaimer: ***Disclaimer *** This is written for educational purposes.  I am writing to explain my understanding of these principles.  Please, do your own research and talk to a licensed professional before…

WTH is a Distribution?


Welcome to Part 3 of the FIRE small business series. You can see the Introduction and summary of what we are talking about here.  You should also read the disclaimer: ***Disclaimer *** This is written for educational purposes.  I am writing to explain my understanding of these principles.  Please, do your own research and talk to a licensed professional before…

Small Business Retirement Plans


Welcome to Part 2 of the FIRE small business series. You can see the Introduction and summary of what we are talking about here.  You should also read the disclaimer: ***Disclaimer *** This is written for educational purposes.  I am writing to explain my understanding of these principles.  Please, do your own research and talk to a licensed professional before…

Business Entities and Advantages to Having One


Welcome to Part 1 of the FIRE small business series. You can see the Introduction and summary of what we are talking about here.  You should also read the disclaimer here: ***Disclaimer *** This is written for educational purposes.  I am writing to explain my understanding of these principles.  Please, do your own research and talk to a licensed professional…

Small Businesses on the Path to FI


Since we’ve set up Mrs. Wow’s company, I’ve had several discussions with people about how it was set up and what we did with retirement plans, accounting, expenses and all the rest of it. There’s a lot of literature out there about starting a company.  Like a shit ton. 273MM results!!! And there’s also a whole lot about retirement accounts. …

Is a Mega Back Door Roth Worth It?


With the turn of the year, everyone has all these resolutions and goals that they are trying to accomplish.  Some want to save more, some want to lose weight, some want to travel more, you get the idea.  The Mrs and I have our goals for the year and we’ve set some pretty ambitious savings goals, but one thing that…

The Tax Is Right


Let’s reminisce a little bit, remember when you stayed home from school sick and you sat around and watched all those silly game shows that were on during the day?  You would watch, Let’s Make a Deal and The Price is Right, yelling at the TV, telling the people what the answer should be.  You always knew that if you…