Self Employed Benefits

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SIMPLE IRA: Self Employed Contributions and Limits

By MBO Partners

Self-employed professionals enjoy the flexibility, control, and creativity an independent career offers, but 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 a number of…

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4 Options for Home Based Business Insurance

By MBO Partners

If you’re a self-employed professional working from the comfort of a home office, business insurance may be the last thing on your mind. But most homeowners’ insurance policies don’t cover losses sustained by a home-based business, which can lead to costly claims, unexpected legal expenses, and damages to your company. Self-employed professionals who work from…

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Benefits

Defined Benefit Plan for the Self-Employed: Pros and Cons

By MBO Partners

Retirement planning is a top concern for self employed professionals and a defined benefit plan is one of the options to consider. The best option for you will depend on a number of factors including your personal goals and income level, which you can discuss with a financial advisor. What is a Defined Benefit Plan? Think…

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Planning for Retirement as an Independent Contractor

Planning for Retirement as an Independent Contractor

By Rian Ervin

What retirement plans for independent contractors exist in today’s world? Traditional employees (usually) have a 401(k) or the equivalent to help prepare for retirement. But, when you run your own business, putting a plan in place falls into your realm of responsibilities.  Thankfully, there are a ton of retirement plans for independent contractors available. But,…

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Planning for Parental Leave as an Independent Contracto

Planning for Parental Leave as an Independent Contractor

By MBO Partners

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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Retirement Planning Tips For Self Employed Professionals

Retirement Planning Tips For Self Employed Professionals

By MBO Partners

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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Solo 401k for Self Employed and Small Businesses

By MBO Partners

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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What is the Paycheck Protection Program Flexibility Act and What Does it Mean for Independent Contractors and Small Business Owners?

By MBO Partners

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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Retirement Options SEP IRA for Self Employed Professionals

Retirement Options: SEP IRA for Self Employed Professionals

By MBO Partners

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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5 Health Insurance Options for Independent Consultants

By MBO Partners

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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