CPA
Copa Holdings, S.A.
stock NYSE

I am 1099 all along.
In 2026, I made 4k overcontribution (employer) to my solo 401k for year 2025.
Do I need to file 5330 or can I just reassign the 2026 overcontribution ?
Please help. CPA ghosting me.

$INTU is a steal right now. Quickbooks and TurboTax aren't going anywhere, because their customers are SMB's with 3-300 employees, and those businesses have tax firms or CPA's doing the books/taxes. They are NOT going to use AI (although you and I might) to do financial paperwork. The SMB tax professionals love Quickbooks, it's familiar for them to work with, and that's not going to change quickly.
Yes, it's getting expensive, but so is everything else, and you generally don't want the new, cheap, untested version of good software when your business is on the line.
CreditKarma is used by an enormous amount of people, and it's basically a loan factory that doesn't write loans. They just make money on connecting lenders. It's a great model.
Mailchimp is the worst of the major parts of Intuit, but it's so deeply embedded in so many businesses that if it does erode, it'll be slowly. They've got time to improve.
Things may change eventually in this space, but it'll take years. In the meantime, I feel they're incredibly undervalued right now.

your CPA is referring to cost or attendance for living off campus which applies if you are enrolled at the eligible educational institution as a student at least half-time. It does not apply if you are an employee such as a resident.

Sorry this I’m not very sure since my CPA handled mine. I’d check with your cpa to see what they say in your situation

No. Spoke to my CPA and she said will roll the over contribution from 2025 to 2026. So I have to make sure I don’t over contribute this year.

Ya I have a CPA and a lawyer already
Already spoke to a colleague who's a tax lawyer at the big 3 and confirmed it's feasible and allowed.
I'm in Canada so the rules are different then other places

This happened to me last year with my Roth. My CPA flagged it and referred me to the brokerage to have the over contribution repurposed to a taxable account. Took about a week to resolve. If you know the amount, contact the brokerage and they should be able to steer you in the right direction.
You will also owe/deduct any earnings/losses plus the over-contribution. This can be a percentage of your overall portfolio gain/loss amount for the tax year it occurred.
In my case, I was able to do this before I filed which avoided penalty. Not sure if that will also be true in your scenario.

I had 1099 income in 2025. On April 2026 I made employer contribution of 21k. I got a tax extension and doing my numbers now. My max employer contribution is only $17k.
What do I do now ? I asked carry401k ( never use them) for reassigning 4k to 2026 employer contribution but they said no.
Do I have to file 5330 and pay penalty ? Please help as my CPA won't answer.

Hello everyone, I am a 34-year-old working on an H1B visa in NY. I plan on returning to India soon and have a significant amount of money in my 401k. I am looking for ways to maximize the money I can withdraw from my 401k. While I do not have an immediate need, I was thinking of using my NRO tax-free benefit. My current plan is to convert the 401k to a rollover IRA, then use SEPP to circumvent the 10% penalty and 30% tax. My CPA was not too helpful in offering clarity. Is anyone familiar with the process and can tell me what I am missing? I am also open to other strategies if anyone is aware of one. Thank you in advance!

LOL did you put this into ChatGPT for a response?
You make 400k in the bay area, aka you're close to the poverty line. But for somebody that knows about economics, you would know that.
You couldn't afford my lifestyle. I know, based on your crack ass response, that you are 100% broke. CPA in the bay area making 400k, just lol. Crying about basic expenses online on reddit. Just fucking lol.

I had cancer when I was 28. It set me back financially pretty good. I wasn’t throwing as much as I should have at my 401K before then, and I stoped contributing for several years due to money constraints. Top it off with me having kids at 32 and 35, and I really didn’t get humming for a while. I’m 45 now, but man do I hate that I stopped contributing or slowing it down during those years. I’m just glad I got to where I needed to today.
I will say it really doesn’t matter where you start. What matters is that you started. You’re out of debt, have an emergency fund built up, so you look to be doing well now. You still have years and years to go. If you make enough, you can cap that out at $72K/year. If you make that much, you’re probably not worrying about making up anymore, lol. One thing I will say, is if you aren’t doing a Roth version of it, you might want to. Roth is always the way to go. Just make sure to run what you are doing through AI every once and a while just to see what options you might have, how to save on taxes, and at some point, you might want to get a financial advisor and/or CPA. They don’t need to tell you what to invest in, but just to help give you guidance.

Yes, get your own lawyer, and make sure it's not your FIL's company attorney. That lawyer represents him and the company, not you. A good business attorney costs far less than one bad clause. A CPA who knows S corps is worth adding too.
Things I'd want answered before signing anything:
- Gift or sale? "Given to them less all debt" could mean a gift, a sale, or something in between. Each has different tax consequences (gift tax filings, the basis the new owners get). That's a CPA question.
- Personal guarantees. This is probably your biggest exposure. An S corp protects personal assets from business debts, but banks, equipment lenders, and suppliers often require owners to personally guarantee loans. If your husband signs one, his assets are on the line, and in some states yours too. Find out exactly which debts exist, who guaranteed them, and whether lenders will release your FIL or require new guarantees.
- Don't co-sign anything yourself unless a lawyer has explained exactly what you'd owe. Lenders sometimes ask spouses to sign, and you can say no.
- Due diligence. Ask for 3 to 5 years of financials and tax returns, a list of all debts, pending or past claims, insurance loss history, and the equipment list and condition. Tree care is high-risk work, so check workers' comp history, safety record, and liability coverage limits.
- Buy-sell agreement between your husband and BIL. It should cover what happens if one wants out, dies, becomes disabled, divorces, or they deadlock on a decision. Disagreements between siblings in business are one of the most common ways family companies fall apart.
- Insurance. Look at life and disability coverage on both owners, and review the company's liability coverage before the transfer.
- Transition terms. Will your FIL stay involved? Are there non-compete or consulting terms? Do licenses, contracts, and key customer relationships transfer smoothly?
Congrats, it sounds like a great opportunity. Just do it with the paperwork done properly.
(Not a lawyer, just sharing what I'd want checked. Laws vary by state.)

I am 1099 all along.
In 2026, I made 4k overcontribution (employer) to my solo 401k for year 2025.
Do I need to file 5330 or can I just reassign the 2026 overcontribution ?
Please help. CPA ghosting me.

$INTU is a steal right now. Quickbooks and TurboTax aren't going anywhere, because their customers are SMB's with 3-300 employees, and those businesses have tax firms or CPA's doing the books/taxes. They are NOT going to use AI (although you and I might) to do financial paperwork. The SMB tax professionals love Quickbooks, it's familiar for them to work with, and that's not going to change quickly.
Yes, it's getting expensive, but so is everything else, and you generally don't want the new, cheap, untested version of good software when your business is on the line.
CreditKarma is used by an enormous amount of people, and it's basically a loan factory that doesn't write loans. They just make money on connecting lenders. It's a great model.
Mailchimp is the worst of the major parts of Intuit, but it's so deeply embedded in so many businesses that if it does erode, it'll be slowly. They've got time to improve.
Things may change eventually in this space, but it'll take years. In the meantime, I feel they're incredibly undervalued right now.

your CPA is referring to cost or attendance for living off campus which applies if you are enrolled at the eligible educational institution as a student at least half-time. It does not apply if you are an employee such as a resident.

Sorry this I’m not very sure since my CPA handled mine. I’d check with your cpa to see what they say in your situation

No. Spoke to my CPA and she said will roll the over contribution from 2025 to 2026. So I have to make sure I don’t over contribute this year.

Ya I have a CPA and a lawyer already
Already spoke to a colleague who's a tax lawyer at the big 3 and confirmed it's feasible and allowed.
I'm in Canada so the rules are different then other places

This happened to me last year with my Roth. My CPA flagged it and referred me to the brokerage to have the over contribution repurposed to a taxable account. Took about a week to resolve. If you know the amount, contact the brokerage and they should be able to steer you in the right direction.
You will also owe/deduct any earnings/losses plus the over-contribution. This can be a percentage of your overall portfolio gain/loss amount for the tax year it occurred.
In my case, I was able to do this before I filed which avoided penalty. Not sure if that will also be true in your scenario.

I had 1099 income in 2025. On April 2026 I made employer contribution of 21k. I got a tax extension and doing my numbers now. My max employer contribution is only $17k.
What do I do now ? I asked carry401k ( never use them) for reassigning 4k to 2026 employer contribution but they said no.
Do I have to file 5330 and pay penalty ? Please help as my CPA won't answer.