Texas Finance Intel

The IRS website provides tools to pay taxes, check refund status, find forms, and get answers to federal tax questions.

Texas First Bank provides Small Business Administration loans with lower down payments and competitive terms to help businesses grow.

The Department of Savings and Mortgage Lending operates as a Texas state agency under the jurisdiction of the Finance Commission of Texas.

The Commodity Futures Trading Commission staff issued guidance on how individuals and firms can cooperate with the agency during enforcement investigations.

Bankers should be aware of current and impending cybersecurity and privacy regulations.

The Office of Consumer Credit Commissioner oversees nonbank financial services and provides education to consumers and industry providers to foster a fair, lawful, and healthy financial services market.

The Texas Credit Union Department supervises, regulates and examines Texas State-chartered credit unions to protect member finances and promote public trust.

The mega-backdoor Roth strategy requires a 401(k) plan that allows after-tax contributions AND in-service distributions or in-plan Roth conversions. Without both features, the strategy is unavailable regardless of income. Many plans permit one but not the other.

Medicare Part B and D premiums above the standard amount apply when modified AGI exceeds thresholds — but the lookback is two years (so 2026 IRMAA uses 2024 income). Roth conversions or retirement-account distributions that bump MAGI in the lookback year can produce surcharges that hit two years later, often unexpectedly.

For self-employed individuals, both vehicles allow significant retirement contributions, but the calculation differs. A Solo 401(k) permits an employee deferral plus an employer contribution — often producing higher total contributions than a SEP at identical profit. The crossover point is around $50K-$70K of self-employment income.