Running a small business is as fun and easy as you'd expect, and more people should do it. I'm an unabashed promoter of self-employment, not because it will make you rich quickly (getting rich quick is the wrong goal on the wrong time frame), but because it will make you self-employed. That's my unfortunate literal tendency which I can never seem to keep suppressed for … [Read more...] about 6 things I wish I knew before starting a business
It's no secret that I'm a cheerleader for self-employment and entrepreneurship. I now run two blogs, this one here on the Saverocity network and another at freequentflyerbook.com. I've never asked anyone permission to start a business, I don't have a "business license," I just run a business like a goddamn American. That's the spirit I'm trying to promote here: if you aren't … [Read more...] about This should be a golden age of entrepreneurship; why isn’t it?
This is a blog about self-employment and entrepreneurship, and access to affordable comprehensive health insurance has always been one of the biggest obstacles to entrepreneurship. That makes the newly-released draft of the Senate's healthcare reform bill squarely in this blog's wheelhouse, just as the House's version was back in March. First, we need to briefly review the … [Read more...] about Yes, we have to talk about the Senate healthcare bill
I've been doing a deep dive lately into one-participant 401(k) plans, which has caused me to observe that people are often extremely unclear about what they are talking about when they talk about one-participant 401(k) contribution limits. The reason is that multiple types of legal entities can sponsor one-participant 401(k) plans, including unincorporated sole proprietors … [Read more...] about S corporations: logic and illogic
[edit 6/13/17: I've been convinced that employee "elective" and employer "non-elective" solo 401(k) contributions can be made with the same money, so have slightly updated the values below to reflect that employer contributions don't have to be made with what's "left" after deducting up to $18,000 in elective employee contributions. I'll have a post soon exploring this issue in … [Read more...] about The sole proprietor’s marginal federal tax rates