Thinking about starting your own business? There are a lot of things you need to plan for in order to break even on taxes and benefits as a self-employed.

New Focus on Wealth with Chad Burton

English - June 06, 2020 04:00 - 40 minutes - 9.55 MB - ★★★★ - 60 ratings
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Previous Episode: Civil unrest is surging across the nation and historically it hasn’t harmed the market. Rob takes over today to discuss what economic factors do bother him.

Next Episode: The S&P 500 erased its losses for the year following one of the most volatile markets ever recorded. Did you remain invested throughout it?

Being able to tell people you own a corporation feels empowering. Before you jump ship and quit your job make a list of the added responsibilities and increased costs of being your own boss. Items to include are health insurance benefits, 401k match, FICA tax match and disability benefits. Today I tackle self-employment issues, maximizing your retirement savings and how to minimize the dreaded self-employment tax. Other topics:

Looking at how the stock market preformed last month Should you form an LLC or S-Corp? Individual 401k, Solo 401k, Defined Benefit Plan, Mega Roth 401k Are stimulus checks taxable? Managing your cortisol and inflammation levels may be the key to better sleep

Email your money question to [email protected] , 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.