Self-Employed Benefits

The CARES Act: What it Means for Self-Employed, Freelancers, and Independent Workers

March 27, 2020

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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Benefits as a Self-Employed Professional

February 21, 2020

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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Planning for Parental Leave as an Independent Contractor

December 31, 2019

Taking parental leave when you run your own business can be scary. Without set guidelines or a reliable paycheck, the prospect of 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…

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Top 2 Challenges Independent Consultants Face

August 16, 2019

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…

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How Portable Benefits Impact the Gig Economy

August 25, 2018

As the American independent workforce continues to grow, the discussions surrounding non-employee and self-employed benefits and protections continue to gain steam. A potential solution to this issue, portable benefits, has been receiving significant attention for the last few years. What are portable benefits? Portable benefits are a proposed system that would allow an independent contractor, or…

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Retirement Plans for the Self-Employed: 4 Options

July 27, 2018

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 solutions…

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Solo 401(k) for Small Businesses and Self-Employed

May 2, 2018

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 solutions…

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Business Insurance Coverages for Independent Contractors

March 29, 2018

As an independent contractor, you’ve probably dealt with the headache of small business insurance, most likely to satisfy the terms of a contract. Although the word insurance is often accompanied by a sigh, there are benefits in your small business insurance policy outside of just checking a box in the contract terms. It is important to…

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Retirement Planning For Independent Contractors

March 24, 2018

As an independent consultant, you love what you do. Reality dictates, however, that you may not want to continue doing it on a full-time basis forever. With more than 17.8 million fulltime independents working more than 15 hours a week, there is no better time than the present to consider your future. After all, 29%…

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Group and Individual Insurance Options for Contractors

February 7, 2018

Whether you are contemplating making the leap to independence or are new to the independent workforce, you have likely grappled with how you will manage benefits without traditional employment. Health, life, and disability insurance are among the perks of a corporate career. Below we explain different health insurance options available to self employed professionals along with…

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