CPA
Copa Holdings, S.A.
stock NYSE

I think the reason it is complicated is because the IRS webpage language says things like RMDs start the year the person turns 73. Your father never did that. But this is the year that he would have so does the fact that on January 1, 2026, he was alive in the year that he would have turned 73 flip that switch.
If you want to question what Fidelity told you, I would only listen to a CPA or other tax expert.

I believe you can take post tax dollars out of any account, Roth or Rollover, without penalty. But you really should talk to a CPA about your options and the proper way to do it.

So just had a meeting with partner and with a CPA, the CPA also initially amortized it. But when I explained how the most of the franchise fee was consumed upfront, the CPA had a better business context and acknowledged that the amortized value is for allocating costs monthly, that it doesn’t automatically equate to buyout market value. We still don’t have the final numbers but atleast I guess the CPA knows where this is going.

Interesting idea. The company is so shitty I find it very hard to believe they would ever do that. They're a big CPA firm, so they squeeze every bit of labor out of their employees and have all the benefits boxes checked so on paper it looks good, when in reality it's an abusive sweat shop with crappy benefits.

Ask your CPA how that is going to work out for you. If you will it, it is no dream, I guess.

congrats on the six figure year, that's a solid milestone. The entity structure question gets tricky with trading specifically because you need to think about trader tax status (TTS) first before the LLC vs corp decision really matters. If you qualify for TTS you can deduct trading expenses and potentially avoid some self-employment tax issues, but the IRS is picky about it.
You need substantial trading activity, regular patterns, not just holding positions long-term. An LLC by itself doesn't change your tax treatment much unless you elect S-corp status, which can help with self-employment taxes on other business income but trading income through an entity can get weird fast depending on what you're trading. Some people swear by Prime Path Advisory for this kind of thing.
They do Business Tax Structuring & Entity Optimization where they review your whole setup, how you should pay yourself, and apparantly save business owners a ton in unnecessary taxes each year. Might be worth checking out since your situation involves both the trading income side and the business structure piece. Other option is finding a local CPA who specializes in traders, which gives you someone you can meet with in person.
Really depends on how complex you want to get and whether you're trading stocks, options, futures (each has diferent rules). Don't rush into forming an entity until you map out the tax implications for your specific trading style though.

Have your tax and accounting questions answered by an expert small business CPA.

I stand corrected. I’ll make sure my CPA files correctly for my OF account. 

Get a CPA. Write off all of your expenses. Give yourself a stable salary Keep most of your funds in your bank and a trade the rest. Continue to scale.

I love you!
oh, sorry, I thought this was my chat with my CPA.

>But, nevertheless, there's no real sane reason for, for example, the next 75 years of family to benefit from a hit song written when their grandfather was 20 like current copyright law enables.
Where should the proceeds go, split amongst the population?
Come on, you didn't address one part of my comment. Why did you respond to me? Why not respond to this part:
"As a tax CPA, I really just don't think you understand enough about taxes to understand how impractical and regressive this tax would be for my generation, which home ownership is already hard to achieve. Would you rather me be forced to sell my childhood home to a corporation so I can pay taxes on it? "

Neither did my parents. I get the fruits of their labor because they're choosing to pass down something they own to me.
You could literally say that about any passive activity, and we do pay taxes on the increased value of the property already. So you want to tax us on unrealized gains for a home we own, along with forcing us to realize gains prematurely?
As a tax CPA, I really just don't think you understand enough about taxes to understand how impractical and regressive this tax would be for my generation, which home ownership is already hard to achieve. Would you rather me be forced to sell my childhood home to a corporation so I can pay taxes on it?
That's a great fucking thing for a country to force it's citizens to do....

Tell the CPA that you expect much less taxable income and he should adjust the estimates. If things change during the year adjust the estimates.

Total limit for 2026 is $72,000. It is a bit tricky but you don't need a CPA. There are calculators online. Once your Solo 401(k) balance exceed $250,000 there's an extra form you have to file every year, separate from your tax return.

1) yes and the paperwork will guide you but it will ask for your business name and info
2) none. There are no account fees. Fees are incurred and paid through investments. For instance SPAXX has a ~0.3% fee but you pay for it through investing and not outright.
3) Fidelity will allow to invest in nearly everything from stocks, bonds, ETFs,mutual funds, closed-end funds, etc. There are no specific investment restrictions.
I have a solo 401k. My husband has one too. The accounting can be a bit tricky. You get to put in up the IRS limit for you personally and your business can put in some too. I think for 2026 the total limit is $70k for both personal and business. Talk to your CPA because there are tax and accounting rules your business will need to abide by.

I would almost guarantee there are loop holes, trusts etc. There's always loopholes built in for those in power. You'll just have to read the law for yourself & then contact tax attorney/financial planner specializing in family/ legacy wealth if you can't find the loopholes yourself. Would be a great idea to start searching for a CPA who is really good at protecting wealth from inflation & govt.

You have to pretend you converted to your overlord's currency before you purchased and identify which of your btc you used, preferably the ones you paid the most overlord currency for, so you don't have too much profit. If you don't mind spending a few hundred, get a CPA.

CPA here, if the Franchise Fee you're referring to is the one time franchise fee, then this is considered as an intangible asset in accounting and is normally amortized using the franchise period. Being an intangible asset, this shall form part of equity; thus should be considered in computation of the buy-out price - pro-rated based on the time elapsed relative to the franchise period.
The fees that are treated as an expense are the Continuine Franchise Fees - which normally is a percentage of your gross sales. This fee does not form part of equity and should be excluded from your computation to buy her out.
But first suggestion is to go by any formalities that you may have at the moment - contracts of any kind that may provide for cases of exit of a partner. In the absence of such, I believe a buy out of her share is the most logical thing to do on her part. I also siggest hiring a competent accountant or lawyer for the computation of the same.

Couple of ideas 1) be sure your 2024 liability is input into the tax software 2) this is a bit “advanced” but since the diva came at the end of the year you could potentially annualize away the penalties which you can do on Form 2010. Source: am CPA

You’re running into a structural issue, not necessarily a legal violation.
If this is a defined benefit pension administered by Fidelity Workplace Services, it’s not like a brokerage or 401(k) account with a daily fluctuating balance. Many traditional pensions do not generate periodic “account values” because technically there isn’t an individual investment account — there’s a promised future payment stream.
That distinction matters.
For estate tax purposes, what’s typically required is the present value of the accrued benefit as of the date of death, not a brokerage-style statement. In many defined benefit plans, that value is:
• The lump sum available (if the plan allows lump-sum distribution), or
• The actuarial present value of the future annuity payments
The plan administrator may not automatically generate that calculation unless specifically requested, and in some plans the actuarial valuation is done by a third-party actuary — not Fidelity customer service.
Instead of asking for “valuation,” which may be triggering the wrong workflow, try requesting very specifically:
• The accrued monthly benefit as of date of death
• Whether a lump-sum option exists
• The actuarial present value as of date of death (if available)
• Summary Plan Description (SPD)
• Contact information for the plan administrator or actuary
Under ERISA, beneficiaries/executors generally have disclosure rights to plan documents and benefit information. That request should be directed to the plan administrator — which may not be the same as Fidelity retail customer service.
Also, if there is no lump-sum option and the benefit is payable only as an annuity, a CPA can calculate the present value using IRS actuarial tables once you have:
• Monthly benefit amount
• Beneficiary percentages
• Date of birth of beneficiary
• Payment form (single life, joint & survivor, etc.)
The IRS does require estate inclusion, but that does not automatically mean the custodian must generate a ready-made valuation statement. The estate is ultimately responsible for reporting a good-faith value. If necessary, estates often file using an actuarial estimate and amend later if updated numbers are provided.
The key question here is:
Is this a traditional defined benefit pension, or is it a cash balance plan (which actually does have an account value)?
Those are treated differently.
If it’s cash balance, there should be an identifiable account value.
If it’s traditional defined benefit, the “value” must usually be calculated.
Escalation may still be appropriate, but the framing of the request likely needs to change from “send me a valuation” to “provide accrued benefit details and any available lump-sum value as of date of death.”
That shift alone may unlock the correct department.