By Prashanth Srikanthan, EA — Enrolled Agent based in Ashburn, Virginia
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21 articles found
LatestThe 2026 annual gift tax exclusion lets a grandparent fund a grandchild's whole life premiums with no Form 709 required. Here's how the exclusion, policy ownership, and 529-plan comparison actually work.
Prashanth Srikanthan, EA··13 min read
The real S-corp election breakeven math for 2026, why the 60/40 salary rule has no basis in tax law, and how the QBI deduction changes a calculation most generic advice never accounts for.
What the 2026 1099-K threshold change under the One Big Beautiful Bill Act actually means, why card processors still report every dollar with no threshold at all, and why your tax bill doesn't change either way.
A full breakdown of the IRC Section 183 nine-factor test the IRS uses to decide if your side business is a real business or a hobby, plus a self-scoring checklist and the permanent 2026 change that makes this test higher-stakes than ever.
A complete breakdown of Trump Accounts (IRC Section 530A) -- eligibility, contribution rules, tax treatment, employer programs, and how they compare to 529 plans, custodial Roth IRAs, and UTMAs.
A whole life policy started at birth quietly builds a financial toolkit your child will use to pay for college, buy a home, and retire with confidence -- all from a single monthly premium you probably won't notice.
Why the 2025 rule change still governs your inherited IRA distributions -- your complete action plan for compliance, tax savings, and distribution strategy.
Key tax planning moves to consider before year-end 2026, including retirement contributions, SALT strategies, and business deductions.
A side-by-side tax comparison of S-Corporations and LLCs to help self-employed business owners choose the right structure.
Why your marginal rate isn't your actual tax bill -- and what that means for six-figure earners.
What is an Enrolled Agent, how do you become one, and why does it matter when choosing a tax professional?
Understanding the true lifetime tax cost of traditional retirement savings -- and why the math almost never works out the way people expect.
How the 2025 OBBBA transformed estate tax planning -- understanding federal exemptions, state tax strategies, and family wealth protection.
The little-known IRS provision that shields entrepreneurs and high earners from underpayment penalties -- no matter when income arrives.
The ultimate guide to setting up tax-free retirement savings for children and teens -- contribution rules, investment strategies, family business opportunities, and state-by-state transfer ages.
How smart families are converting unused education savings into decades of tax-free retirement growth -- the six requirements, state tax rules, and implementation strategies.
The step-by-step recharacterization strategy that turns an excess Roth IRA contribution into a perfectly legal backdoor Roth -- without paying a single dollar in penalties.
How high-income professionals can transform HSAs from medical expense accounts into tax-free retirement powerhouses -- 5 advanced strategies covering investment positioning, the shoebox method, Medicare coordination, family coverage optimization, and estate planning.
How high-income professionals who have maxed out conventional retirement options can use specially designed whole life insurance to build substantial tax-free retirement income -- the structure, mechanics, and scenarios explained.
How high-income professionals can use after-tax 401(k) contributions to add up to $47,000+ annually to Roth accounts -- the mechanics, plan requirements, step-by-step implementation, and three real-world examples.
Income too high for direct Roth contributions? The backdoor Roth strategy lets you fund a Roth IRA regardless of income level -- here is exactly how it works, how to handle the pro-rata rule, and common mistakes to avoid.
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