Re:Why Is Washington Ignoring the Freelance Economy?
by patio11 on Friday September 24, 2010 @10:40PM
(#1726136)
Self-employment tax is annoying enough already without being asked to bankroll the benefits of journalism majors who have less than 25 days of salary in the bank. By the way, our retirement options are the best available that aren't backstopped by the good citizens of California. Check out SEP-IRAs or even just plain old Roth IRAs, the terms are fantastic.
[ Parent
| on HN ]
Re:Why Is Washington Ignoring the Freelance Economy?
by wjy on Saturday September 25, 2010 @12:23PM
(#1727250)
You're exactly right. As a sole proprietor, I can save WAY more in my own 401k than I could at any previous employer. I think about 3x more. It's known as a "Solo 401k", adapted to suit the needs of one person's (or a married couple's) needs. It mostly means less administrative hassle. But the contribution limits are much higher.