Category Business Owners
8 reasons to open a solo 401k plan
Updated for 2024 What is a solo 401k plan? The solo 401k plan is a powerful tool for entrepreneurs to save money for retirement and reduce their current tax bill. These plans are often ignored and overshadowed by the more…
Solo 401k – The Comprehensive Guide for Small Business Owners
Solo 401k is a retirement plan for solo entrepreneurs who don’t have access to traditional employer retirement plans. In the dynamic landscape of entrepreneurship, solo business owners often juggle numerous responsibilities. Between managing their business and spending time with family,…
Tax Saving Moves for 2020
As we approach the end year, we share our list of tax-saving moves for 2020. 2020 has been a challenging and eventful year. The global coronavirus outbreak changed the course of modern history. The Pandemic affected many families and small…
401k contribution limits 2020
401k contribution limits for 2020 are $19,500 per person. All 401k participants over the age of 50 can add a catch-up contribution of $6,500. What is 401k? 401k plan is a workplace retirement plan where both employees and employers can…
Digital strategies for small business owners
Digital strategies for small business owners post coronavirus. The coronavirus crisis pushed many small businesses on the verge of existence. The global lockdown forced non-essential small businesses to shut doors and furlough or lay off employees. Even essential businesses saw…
6 Saving & Investment Practices All Business Owners Should Follow
In my practice, I often meet with small business owners who have the entire life savings and family fortune tied up to their company. For many of them, their business is the only way out to retirement. With this post,…
11 Effective financial strategies for business owners
Eleven ways to boost and protect your wealth Small and mid-size businesses are the backbone of the US economy. Entrepreneurship and creativity have been moving the American economy for centuries. In fact, the US has one of the best grooming…
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