 |
Investments | Insurance | Tax Services | Home Financing | Site Map | About Us | Contact Us |
 |
|||
       |
 Not only is it satisfying and a source of personal freedom, but being your own boss can  have significant tax advantages. When you are self-employed,
many things you might purchase anyway, such as a cell phone, pager, computer, and high-speed Internet connections,
become fully or partially tax deductible. It can be advantageous to hire your spouse or children. Deductions for
a home office become more feasible and less of an audit risk. You may have thought about offering a 401(k) plan but were reluctant to undertake the high administrative cost and reporting requirements, or discouraged by the fact that the rules would prevent you from personally participating. If you employ fewer than 100 people, all of these problems are solved with a SIMPLE IRA plan. The participating employees pay nominal account administration fees. Gone are the onerous reporting requirements and top-heavy rule calculations. You are allowed to participate even if none of your employees choose to do so. You can offer Health Savings Account-based medical insurance. This option is a win-win situation for you and your employees. Your medical insurance premiums are greatly reduced while your employees have the opportunity for tax-deductible contributions and tax-free growth. For the self-employed small business owner, Schubert Financial Associates is fully prepared to help you take full advantage of these opportunities. |
Did you know...? Businesses have been promoting themselves with print ads since about 1450 AD, not long after the invention of the printing press. By the 1670s, the London Gazette had a special "advertsing supplement." Samuel Johnson wrote, "Advertisements are now so numerous that they are very negligently perused, and it is therefore become necessary to gain attention by magnificence of promise and by eloquence sometimes sublime and sometimes pathetick." Sound familiar?
|
|
