Retirement & Deduction Tax Planning in Manassas, VA
Retirement contributions and business deductions are two of the most powerful tools for reducing your tax bill—but only when they're strategic and defensible. Random year-end moves won't cut it.
At Hollins & Hur, we help established small businesses across Northern Virginia and DC build a real plan—one that maximizes retirement contributions, captures legitimate deductions, and holds up if the IRS ever looks.
Book a Tax Fit CallWhat This Service Covers (And Why It Matters)
This isn't about finding clever loopholes or maximizing deductions at all costs. It's about building a sustainable, defensible tax strategy that reduces your liability year after year.
Retirement planning means choosing the right plan type, calculating contribution limits based on your entity structure, and timing contributions to align with your cash flow and tax situation.
Deduction strategy means ensuring every expense you claim has a clear business purpose, proper documentation, and meets IRS standards. We help you capture what you're entitled to—and avoid what you're not.
Who This Is For
What's Included in Our Retirement & Deduction Tax Planning Service
Retirement Planning — Strategic Contributions (Not Guesswork)
Retirement contributions aren't just about "maxing out." The right strategy depends on your income, entity type, cash flow, and tax bracket. We help you:
- Compare plan options: SEP-IRA, Solo 401(k), SIMPLE IRA, defined benefit
- Calculate your specific contribution limits based on entity and income
- Time contributions for maximum tax benefit
- Coordinate with your financial advisor if you have one
Retirement planning connects directly to your year-end tax planning and quarterly estimated taxes. We coordinate all three so nothing falls through the cracks.
Deduction Strategy — Keep It Real (and Defensible)
The goal isn't to claim as much as possible—it's to claim what you're entitled to with documentation that holds up. We help you build a deduction strategy that's:
How Entity Structure Affects Deductions & Retirement Strategy
Your business structure determines how retirement contributions are calculated and which deductions apply. Here's how it breaks down:
S-Corp Owners
Retirement contributions are based on your W-2 salary, not total profit. This means reasonable salary planning and retirement planning go hand-in-hand. Health insurance premiums are handled differently for S-corp shareholders, and QBI deduction calculations depend on your salary/distribution split.
LLC Owners
Contribution limits are based on net self-employment income. You may have more flexibility with contribution timing, but you're also paying self-employment tax on all profit. We evaluate whether staying as a disregarded LLC or electing S-corp treatment makes sense for your retirement and tax goals.
LLC Tax PlanningOur Retirement & Deduction Planning Process (3 Steps)
Step 1: Assessment
We review your current deductions and retirement setup. We look at what's working, what's missing, and what might be risky.
Step 2: Strategy Development
We model different retirement contribution levels and deduction scenarios. You'll see the tax impact of each option so you can make informed decisions.
Step 3: Implementation & Coordination
We help you execute the plan—coordinating contributions, documentation, and quarterly estimates so everything works together.
If Your Books Aren't Tax-Ready, We Fix That First
Retirement and deduction planning only works when the numbers are accurate. If your bookkeeping is behind or messy, we'll clean it up before making recommendations. That means:
- Reconciled accounts and categorized expenses
- Owner transactions properly separated
- Year-to-date financials you can rely on
Once your books are clean, we can give you real recommendations—not guesses. Learn more about our tax return preparation process.
FAQs About Retirement & Deduction Tax Planning
What's the difference between SEP-IRA and Solo 401(k)?
SEP-IRA allows up to 25% of net self-employment income (max $69,000 in 2024). Solo 401(k) allows both employee and employer contributions, potentially higher limits. The best choice depends on your income level and whether you have employees.
When should I set up my retirement plan?
Solo 401(k) plans must be established by December 31 of the tax year. SEP-IRAs can be set up and funded until your tax filing deadline (including extensions). We recommend planning early in the year so you can make informed quarterly decisions.
How do I know if my deductions are defensible?
Defensible deductions have clear business purpose, proper documentation, and follow IRS guidelines. We review your expenses to ensure they meet the 'ordinary and necessary' standard and help you maintain records that support each deduction.
Can I contribute to retirement if I'm an S-corp owner?
Yes, but contributions are based on your W-2 salary, not total profit. This is why reasonable salary planning and retirement planning go hand-in-hand. We coordinate both to maximize your retirement contributions within IRS limits.
What deductions do small business owners commonly miss?
Common missed deductions include home office expenses, vehicle mileage, professional development, health insurance premiums (for self-employed), equipment depreciation, and the QBI deduction. We review your situation to capture everything you're entitled to.
Should I max out retirement contributions every year?
Not necessarily. We look at your cash flow, tax bracket, and other planning opportunities. Sometimes it makes sense to contribute less and use the cash elsewhere. Strategy beats maximization.
How does retirement planning connect to quarterly estimated taxes?
Retirement contributions reduce your taxable income, which affects your quarterly estimated tax payments. We coordinate both so you're not overpaying quarterly or underpaying and facing penalties.
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Ready to Build a Real Retirement & Deduction Strategy?
Stop guessing. Book a tax fit call and we'll review your situation, identify opportunities, and build a plan that's strategic and defensible.
Book a Tax Fit Call