Getting your taxes done can be a confusing time, especially if you are self-employed. Today it’s all about self-employment and tax saving strategies.

If you’re self-employed you know that tax time can be an extremely daunting time. It can also be a bit of a surprise due to the way self-employment taxes work. Today’s podcast is for every self-employed individual who is feeling overwhelmed and completely lost as tax day approaches. Specific topics include:

• Benefits of self-employment
• What you need to consider before going self-employed
• Entity options: Sole proprietor, LLC, or S-Corp
• How does an S-Corp save taxes?
• Retirement pitfalls of an S-Corp
• When to use Roth IRA's and individual 401k's
• SEP IRA's are rarely the best option

 

 

Email your money question to [e-mail] , or call the show at 1-800-516-1220 on Tuesday's and Wednesday's from 6:00-7:00 a.m. (PDT)

 

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.NewFocusFinancial.com.