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In honor of yesterday's "Tax Day" - Erica addresses the question that is often high on our minds. And the answer should be encouraging!

Links to Resources Mentioned:

• Congressional Research | Distribution of IRS Audits by Income and Race
• The IRS’s First-Time Penalty Abatement | Forbes article

Until next time, may your week be filled with empty mailboxes and profit…

Connect with Erica Goode, CPA | LinkedIn | Monthly Newsletter | Website

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Today Erica is joined by Sean Mullaney, a Los Angeles-based advice-only financial planner and author of "Solo 401k: The Solopreneur Retirement Account". Sean shares his expertise on the differences between SEP IRAs and Solo 401(k)s, the benefits of each, and why most solopreneurs might favor the latter for their retirement savings.

Some of the questions they discuss are:

• What is the difference between a SEP IRA and a Solo 401(k)?

• How can an advice-only financial planner benefit your retirement planning?

• Can a Solo 401(k) be a better option for solopreneurs than a SEP IRA?

Make sure you check out the resources below!

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Erica and the Coaches, Consultants, and Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc., and their services.

Important Resources Mentioned:

• Choose FI podcast | How to Access Your Retirement Accounts Before 59.5

• Sean’s Book | Solo 401(k): The Solopreneur’s Retirement Account (on Amazon)

• Sean’s Favorite Money Books:

  • Millionaire Next Door, Thomas J. Stanley

  • The Simple Path to Wealth, by JL Collins

• Ep. 61 - When is an S-Corp a Bad Idea?

• Ep. 21 - What’s an S-Corp and When Should I Become One?

Connect with Sean:

Website | https://fitaxguy.com/

YouTube | @seanmulaneyvideos

Mullaney Financial | https://www.mullaneyfinancial.com/

Connect with Erica:

• Instagram
• LinkedIn
• Email List

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Whether it’s growing fast…or slow…today Erica shares some encouragement as you move forward in your business.

Hint: growth doesn’t have to be accompanied with pain!

And in the meantime, may your week be filled with healthy growth, and profit…

Connect with Erica Goode, CPA | LinkedIn | Monthly Newsletter | Website