IRAs and other Retirement Plans for Independent Contractors
In “Retirement Plan Options for Independent Contractors,” published by NerdWallet this past fall, financial planner Dave Rowan outlines some of financial tools independent contractors can use to save for a time when they no longer work.
SIMPLE IRA: The Simple IRA or Savings Incentive Match Plan for Employees lives up to its name when you are doing contract work as a solo operator; it is less simple for those who have hired employees. These plans have employer-matching contribution rules that but don’t let that scare you if you think the SIMPLE IRA will work for your enterprise.
As an …
Read More