Retirement Planning For Small Business Owners and Freelancers: How Do You Choose Between a SEP IRA and a Solo 401(k)?
If you’re a small business owner, planning for retirement can get a little confusing. How do you know which retirement savings plan will work best for you? Specifically, how do you choose between the Simplified Employee Pension (SEP) IRA and a Solo 401(k)? Each has its own benefits and drawbacks, but after reading this post, […]
There are some for whom family and business go together like music and lyrics. These business owners may have been part of a family business for generations, in which the business is passed down from parent to adult child, and include that adult child’s spouse, siblings, even extended family. For others, mixing business and family […]
No matter how well-prepared you are, tax time is nearly always stressful for small business owners. Finding receipts, keeping track of all your expenses, listing out deductions—it’s a lot to manage, more so if you have employees that you should file additional paperwork for. And while it’s probably impossible to get rid of all the […]
It happens to all of us at one point or another: we lose a loved one to old age, illness, or accident. Along with the grief attendant on such an experience, there are also, unfortunately, plenty of legal and financial issues to manage when a loved one passes. If you’re not prepared for these, the […]
The second round of PPP loans was approved by Congress in December 2020, as part of the second coronavirus stimulus package. Because the money is lent on a first-come, first-served basis, you don’t want to wait to apply. While the deadline isn’t until March 31, 2021, it’s a good idea to get started as soon […]
The Paycheck Protection Program (PPP) was renewed in December 2020 with a new round of funding—$284 billion, to be exact. This brings the total funding for the program, which is managed by the Small Business Administration, to $806 billion. And none of it is going to waste. The SBA has given out more loans since […]