Personal Finance Buzz

Being self-employed isn’t always sunshine and rainbows. There is a dark side to being unemployed. Make sure you know what you are getting into before you quit your day job.

If you are self-employed, you can take a number of deductions for business expenses. Before doing all of the calculations, you may ask, should I do this work, or skip it and take the standard deduction?

When you hobby starts earning money you might wonder if you should give more time and effort to turning your hobby into a side job. This post offers several suggestions on how to successfully make that transition.

Are you self employed or a small business owner wondering what retirement plan would work best for you and your business? Take a look at this informative video guest post by Jeff Rose of Good Financial Cents.

As you consider how your hobby might be able to help you make a little extra money on the side, think about how you could sell it, and how you can turn it into a real moneymaker.

As an employee of a company you only have access to the one retirement plan that is provided to you. If you’re self-employed or a small business owner you have more retirement plan options than just a traditional IRA or Roth IRA. The plan that best fits you will depend on your business plan, how much you want to contribute, how many employees you have or expect to have, and if you get income from a regular job.

If you are looking for a little extra cash, you could try to make money from your hobby, or even start a side business. When tax time rolls around, though, it’s important to understand how the IRS views you.