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Self Employed Benefits
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Planning for retirement is a challenge for many independent professionals. As a typical employee, you can rely on your employer to provide 401(k) plans or other options to help prepare for retirement, but when you run your own business putting a plan in place is up to you. Luckily, there are many retirement options available…
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When you run your own business, taking parental leave can be a scary prospect. Without set guidelines or a reliable paycheck, having to budget for time off, set expectations with clients, and work head on projects is daunting. Nevertheless, one of the benefits of running your own business is the freedom to structure projects around…
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As an independent professional, you love what you do, but looking forward towards the end of your career you won’t be running your business on a full-time basis forever. More than 15 million independents work full time, more than 15 hours per week. Whether you are just starting your small business or you have an…
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The challenge and uncertainty of planning for retirement is a common concern among self-employed professionals, even as you enjoy the flexibility, control, and creativity an independent career offers. At a traditional job, you have the benefit of built-in retirement options, but this field can be more difficult to navigate on your own. Fortunately, there are…
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Friday, the government signed into law the Paycheck Protection Program Flexibility Act to make it easier for small businesses and independent workers to gain relief under the Paycheck Protection Program, a key provision of the CARES Act for COVID-19 relief. What is the Paycheck Protection Program Flexibility Act? The Paycheck Protection Program Flexibility Act is…
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As a self-employed professional, you enjoy the flexibility, control, and creativity an independent career offers. However, the challenge and uncertainty of planning for retirement is a common concern. At a traditional job, you have the benefit of built-in retirement options, but this field can be more difficult to navigate on your own. Fortunately, there are…
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As an independent professional, cutting ties with the constraints of a corporate workplace can also mean losing some of the perks—including health insurance benefits that many employers offer. However, this factor seems to be outweighed by the many benefits of going independent. Eighty-two percent of full-time independents say they are happier working on their own…
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The information provided in the MBO Blog does not constitute legal, tax or financial advice. It does not take into account your particular circumstances, objectives, legal and financial situation or needs. Before acting on any information in the MBO Blog you should consider the appropriateness of the information for your situation in consultation with a…
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One of the big differences between being an employee and an independent contractor is managing your own benefits. As an independent, there’s no employer to provide you with benefit options like health insurance, retirement or vacation time. Your financial future is up to you. While it can initially be a daunting task to figure out…
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Working as an independent consultant and being your own boss offer a number of benefits including setting your own hours, determining your specialties, and choosing your clients. However, independent consulting is not without its challenges. In MBO’s State of Independence report, we surveyed independent consultants to learn about their experiences, goals, and difficulties. Here, we…