Good Advice Articles from Sense Financial: Investment tips and business strategies that help business owners and self employed individuals
Guest article by Rae Steinbach When saving money for retirement in a 401(k), IRA, or similar account, most people assume those tax-deferred funds will always be safe and available. Unfortunately, this isn’t universally the case. Several states fail to protect the money in certain accounts, such as IRAs, from being collected if the account holder […]
What was your reaction on receiving an IRS notice or a court order? Scared or worried! That’s the common reaction one would expect, but do you know that with some basic preparation and regular practice, you can be prepared for such occurrences. How these legal tips can make your life easier Never avoid a small […]
The past couple of years has seen a rapid change in the way businesses are conducted. Any and every business operating in the present world has an online presence. Considering an increase in our online exposure, a little diligence could go a long way in securing your information. The latest Google Docs phishing attack is […]
“If you’re not willing to risk the usual, you will have to settle for the ordinary.” ~ Jim Rohn Many freelance professionals or self-employed individuals would connect with what Jim Rohn said. Working as a freelancer has its own set of challenges and benefits, and judging by the numbers, freelancing is catching up in the […]
Owning and operating a small business is a popular trend in the U.S. According to a report, more than 28 million small businesses operate in the country out of which, 22 million are self-employed, with no additional employees. When it comes to self-employment, a lot of people consider financial independence as one of its biggest […]
Have you hired a CPA yet? Decided whether you want to file for an extension? For investors in particular, all of these looming 2017 tax deadlines might seem daunting. If you’re wondering where you should focus your attention as April approaches, use this visual representation to organize your thoughts. 2017 Tax Deadlines Investors Can’t Miss […]
If you’re a self-employed professional or owner-only business, the word ‘Solo 401k’ should resonate with retirement savings. In this post, we’ll find out more about a self-directed Solo k plan and how you can open one. What is a self-directed Solo 401 k plan? What is it: A qualified retirement plan targeted at owner-only businesses and […]
Entrepreneurs have to wear many hats. One of their key responsibilities is to understand and properly manage their business’s finances. But they must also be careful with how they handle their own money. Here are smart financial steps every young entrepreneur should consider. 1. Separate your business and personal funds It’s common for entrepreneurs to […]
The IRS allows termination of a retirement plan along with the option to rollover funds into a new retirement account. The key is to follow IRS guidelines, plan amendments, which protect the tax-favored status of your retirement plan during termination and ensure that plan participants can, further, rollover the funds to other qualified retirement plans. […]
Article by Larell Baldwin There seems to be a prevailing confusion over how to treat the designation of beneficiaries of a life policy where a Revocable Living Trust is in place. The main consideration of avoiding Probate can be achieved in either case whether beneficiaries of the life policy are named in the life policy […]