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Sep 24, 2024 | 
time.com | Jess Ullrich |Holly Johnson |Roger Wohlner |Alicia Tuovila
Typically, you can’t withdraw your retirement funds prior to age 59 ½ without incurring an early withdrawal penalty of 10%. There are a few exceptions to this rule. One of them is to take substantially equal periodic payments (SEPP) from your IRA, 401(k), or other qualified retirement account. Let’s break down how SEPP plans work, some methods to calculate your withdrawals, and the pros and cons of accessing your funds early through a SEPP plan.
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Sep 24, 2024 | 
time.com | Jean Folger |Alicia Tuovila |Jill Cornfield
One of the first decisions a small-business owner makes is choosing a business structure. A limited liability company (LLC) is a popular option, partly because it shields members from personal liability for business debts and lawsuits. Here's what you need to know about starting an LLC in Massachusetts. Massachusetts LLC state and federal tax requirementsState and federal income taxesBy default, LLCs are pass-through entities.
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Sep 24, 2024 | 
time.com | MoreBy Jean Folger |Jean Folger |Alicia Tuovila |Jennifer Cook
A limited liability company (LLC) can offer you personal liability protection from the business activities you engage in. If you are a real estate investor, a real estate LLC can protect your assets against certain lawsuits. It can also make it easier for you to invest in real estate with other partners. Here is a guide to help you decide if a real estate LLC is right for you. Why set up an LLC for real estateReal estate investing is a particularly risky venture.
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Sep 24, 2024 | 
time.com | MoreBy Jean Folger |Jean Folger |Alicia Tuovila |Jill Cornfield
If you're starting a small business, one of the first decisions you'll need to make is how to structure it. A popular option is a limited liability company, or LLC. Here's how to set one up in Texas. Step-by-step guide to forming an LLC in TexasForming an LLC in Texas is a straightforward process. Here are the steps you'll need to take.
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Sep 24, 2024 | 
time.com | Jean Folger |Alicia Tuovila |Wendy Connett |MoreBy Jean Folger
The Sunshine State offers easy access to the East Coast and is a gateway to Latin America, making it a strategic location to start or grow a business. Florida also provides one of the more favorablebusiness tax climates in the U.S., withno personal income tax and a moderate 5.5% corporate tax. If you're wondering how to start an LLC in Florida, here's what you need to know.
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Sep 24, 2024 | 
time.com | MoreBy Jean Folger |Jean Folger |Alicia Tuovila |Jill Cornfield
Starting a business can be an adventure. However, as with all good adventures, it also comes with risks. A limited liability company (LLC) is a great way to shield your personal assets from business debts and liabilities. An LLC can also make it easier if you want to go into business with a partner. If you’ve chosen to start a business in California and you’ve decided to form an LLC to do it, here are the next steps you should take.
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Sep 3, 2024 | 
time.com | Sean Bryant |Alicia Tuovila |Roger Wohlner |Roth IRA Contribution
Mainstream brokers don’t offer SDIRAs, partly because non-traditional assets are riskier than the usual stocks, bonds, and funds comprising most IRAs. Instead, you’ll need to work with a specialized SDIRA custodian to invest in alternative assets with your retirement savings. Here are five options to consider.
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Sep 3, 2024 | 
time.com | Jean Folger |Alicia Tuovila |Roth IRA Contribution |Roger Wohlner
Real estate can be a great way to diversify your investment portfolio. However, most people assume it requires thousands of dollars upfront to get started. Luckily, that’s not the case. Real estate crowdfunding platforms allow investors the chance to invest in real estate without a lot of cash. But while real estate crowdfunding can be a great way to diversify your portfolio, finding a platform that fits your goals is critical.
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Aug 6, 2024 | 
time.com | Alicia Tuovila |Wendy Connett |Julia Kagan
Are you self-employed? You might be, even if you don’t own or run an official business. Self-employment means you work for yourself, and it comes in many forms. The category has significant ramifications, especially for your taxes. So it’s important to know if you have that status. According to the Internal Revenue Service (IRS), you are self-employed if you:Carry on a trade or business as an independent contractor or sole proprietor.
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Jul 16, 2024 | 
time.com | Alicia Tuovila |Colin Graves |Julia Kagan
There are many benefits to being self-employed, but it also makes doing your taxes more complicated. Thankfully, there are many tax benefits that you can take advantage of. Here is a guide to some of the best self-employment tax deductions. What can I write off on my taxes as a self-employed taxpayer? Here are some common expenses you may be able to write off when you are self-employed.
