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4 Retirement Plans Small Business Owners Should Consider

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Both want to provide a package that looks out for their employee’s futures while keeping costs as low as possible. It also has lower administrative costs than other plans. SEP IRAs also don’t require yearly filings like 401(k)s or other retirement plans. There are no catch-up contributions for people older than 50.

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How to Start a Nonprofit Organization In 5 Simple Steps

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Donors asked if they can deduct the cost of the donated items on their tax return, and a few people suggested you make your project legal by filing for nonprofit status. Will the secretary be able to keep track of the records and filings? Each state has different rules and regulations for filing.

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SEP IRA: What You Need to Know About This Retirement Plan Option

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Although the SEP IRA is a good, relatively low-cost and low-hassle retirement plan option for business owners, there are some rules to be aware of before you complete the setup process. Unlike other retirement plan options, there are no filing requirements or expensive fees to maintain a SEP IRA. It has low admin costs.

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Who’s Stuck With The Bill?

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The rise in working remotely comes with several costs, which include internet subscriptions, computers and office equipment, home office furniture, security, insurance, and software. There are various models that companies are using to cover these costs of working remotely. What are the costs associated with working remotely?

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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

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While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. While celebrating U.S. Part of that process starts with taking notes on how you work, for how many hours, and from where.

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The 4 Best Retirement Plans for Self-Employed Individuals to Consider

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Under the nonelective clause, even if an eligible employee doesn’t contribute to the SIMPLE IRA, the employer must still contribute a percentage based on the annual salary cap of $330,000 in 2023. Employee salary reduction contributions are not tax deductible. A salary cap of $330,000 is used to calculate contributions.

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Redefining Employee Experiences: Why Leading Companies Prioritize EX Design

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One obvious reason is that customers represent potential future revenue, while employees represent costs. To avoid a further crisis of trust, forward-looking companies are looking soberly at the costs (financial and reputational) of maintaining EVPs that are out of touch with the post-pandemic social contract.

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