Self Employed Taxes Tips to Get Prepared

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Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, self-employed taxpayers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees. The IRS is undeniably suspicious of self-employed persons. The IRS routinely audits self-employed / independent contractors, often looking for unreported income or overstated … [Read more...]

Filed Under: Your Online Business

The 401k plan is the Ultimate Retirement Saving Plan

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Free money from your employer can be termed as one thing -- a 401K plan. This is an employer sponsored retirement plan where employees contribute a percentage of their salary into an account, with employers providing a matching percentage. Motley Fool describes it as “one of the best ways to save for your retirement. Few alternatives are better.” Basically your contribution is automatically taken from your paycheck before taxes. These contributions along with any match that your … [Read more...]

Filed Under: Planning for the Future
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