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If your business has a net loss, you may qualify for a Net Operating Loss (NOL) to offset future taxable income. Loss deductions vary by business type, with sole proprietors and pass-through entities reporting losses on personal returns. At-risk and passive activity rules may limit deductions.

In 2025, 401(k) contributions rise to $23,500, with higher catch-up limits for ages 60-63. Employers must auto-enroll new hires at 3-10%. A new IRS ruling may allow matches to go toward student debt or HRAs. These changes aim to boost retirement savings and flexibility.