Making the decision to quit your job to pursue self-employment is a tough one. You are leaving the world of comfort and familiarity (and a steady paycheck), for a world full of unknowns.
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3 Simple Tax Tips for Self-Employed People
I used to enjoy doing our taxes. I know, I’m a dork, but I genuinely liked sitting down at the end of the year to see how everything shook out for the previous 12 months. We didn’t have anything too extravagant going on so it was fairly straightforward.
That all changed once my wife and I stopped working for our employers and went to work for ourselves. Taxes became even more complex when we saw our business take off. I know there is some debate as to whether or not you should pay someone to do your taxes, but for us, it made sense to go that route. That, however, does not let us off the hook in terms of tax preparation. With that in mind, I thought I’d share some of my tax tips to help out if you’re self-employed.
How to Save for Retirement When You’re Self-Employed
As someone who has been self-employed for a little over two years there is quite a bit I have learned. However, the thing I continue to come back to is that no one is going to do anything for me, meaning it’s all up to me. That ranges from finding the work and knowing what expenses we should take on to things like retirement. You see, I don’t have the cushy benefit of having someone give me free money for retirement leaving me on my own to handle it. That said, I think I’ll take the benefits of working for myself if it means managing my own retirement. 🙂
[Read more…] about How to Save for Retirement When You’re Self-Employed
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