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4 Smart Money Moves to Plan for Financial Security

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They don’t have a purpose for the money they’re saving, and they often end up splurging on stuff they don’t really need (or want) rather than using it to fund a life goal such as buying a house or saving up for retirement. So only adjust your emergency fund if your monthly expenses increase, you get a raise, or you gain dependents.

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3 Steps to Take Before Going Into Business for Yourself

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A 2021 report uncovered that 40% of traditionally-employed American workers are considering a transition to self-employment in the next two years. Before going into business for yourself, you should have an account set aside to save for these additional expenses. If you’re struggling to save money, take a look at your budget.

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1099 vs W-2: The difference between employees and contractors

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It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor. Form 1099 NEC filing requirements. Employee name and address.

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