You Are A Sole Proprietor: How About A Solo 401(k)

I am seeing more and more people quit the corporate America lifestyle and venture into becoming their own business owner.  This shape of a business owner can be a freelancer, consultant, or someone who actually starts up a ‘brick and mortar’ operation.    Many of these folks will ask questions about whether they should incorporate their business, which I have discussed in other articles.    Once they become profitable, they often ask which kind of retirement plan would suit them the best.   For someone who is a sole business owner, the Solo 401(k) has been around for about a decade and provides a great alternative to helping maximize your retirement contributions.   Here’s a little history on the Solo 401(k) and how it can be a smart money move for your business. The Solo 401k came about in 2002 after Congress passed Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). EGTRRA added some small paragraphs to the tax code that put forward the solo 401(k) as the preferred retirement vehicle for…

VIDEO | Where Can I Get An Unsecured Line Of Credit?

Published on: May 02, 2013 @ 11:00

The Solo 401(k)- For A Decade A Good Option For The Self-Employed

In the Gen X and Gen Y arena, I am seeing more and more people quit the corporate America lifestyle and venture into becoming their own business owner.  This shape of a business owner can …

Health Insurance- Where are we headed?

There has been a ton of press over the past few months regarding health insurance. Democrats slamming Republicans, and Republicans slamming back Democrats.

I too have a political party. The party of the small business owner. We take all of our cash, put a business plan together, and work 70 to 80 hours per week creating the dream of building something that will live beyond our lifetime. However, with all that has gone on over the past year, where is the small business owner to turn when the policies from Washington, D.C. come to fruition.

What happens when the Unemployment Check runs out?

With almost 1.5 million people nearing their end of the unemployment check, the big questions will be what happens next? If we are depending on the large corporations to create new jobs, then we will be waiting for a long time. Big companies have been spending the last year figuring out how to reduce costs in order to meet the expectations of their shareholders. After working 16 years for a large company, I learned restructuring is just another way to say cost cutting.