Required Minimum Distributions and QCDs: Your December 31, 2026 Checklist
RMD rules for 2026: who must withdraw, how to calculate it, the December 31 deadline, and how a QCD can turn your RMD into a tax-free charitable gift.
John C Thompson, EA
Tag: Retirement Planning
9 posts
Year-End Tax Planning for Business Owners: Strategic Moves Before December 31, 2026
Year-end tax planning for small business owners in 2026: expense timing, retirement contribution deadlines, bad debt write-offs, and more before Dec. 31.
John C Thompson, EA
Backdoor Roth IRA: The High-Income Workaround (And the Trap to Avoid)
High earners can't contribute directly to a Roth IRA — but the backdoor strategy offers a legal workaround. Learn the steps, Form 8606, and the pro-rata trap.
John C Thompson, EA
Inherited IRA: What the 10-Year Rule Means for You
The SECURE Act changed inherited IRA rules for most beneficiaries. Learn the 10-year rule, who still qualifies for the stretch, and why tax planning matters.
John C Thompson, EA
5 Ways to Reduce Your Taxes Before You File
Still haven't filed? There are smart last-minute moves that can reduce your tax bill. Here are 5 things to check before you submit your 2025 return.
John C Thompson, EA
Understanding Tax Credits: Major Credits for Individuals and Businesses
Learn about major tax credits including Child Tax Credit, EITC, education credits, and business credits. Understand refundable vs non-refundable credits and how to maximize your tax savings.
John C Thompson, EA
New $6,000 Senior Deduction: What You Need to Know for 2025
The new $6,000 senior deduction provides automatic tax relief for those 65 and older, but income thresholds affect multiple retirement benefits. Learn the basics and when to seek professional help.
John C Thompson, EA
Tax Planning and Preparation: Your Year-Round Strategy Guide
Learn the difference between tax planning and preparation, and discover how year-round tax strategies can reduce your tax liability, maximize refunds, and eliminate filing season stress.
John C Thompson, EA
Open Enrollment and your Tax Plan
Maximize tax savings during open enrollment with FSA, HSA, and retirement plan elections. Learn how pre-tax benefits reduce your taxable income and save money.
John C Thompson, EA