Power… Influence… Six-figure incomes… To such enticements, add awards, accolades, and exotic, five-star accommodations for annual conferences, and you’ll get the alluring picture drawn by sharp investment counselors with high levels of productivity. If you’re a kinetic or cerebral dynamo with good instincts and people skills, you might encounter similar perks, but that isn’t the important part of being a financial adviser!
We dream of being self-employed. Large numbers of women decide to strike out independently and turn our skills and expertise into a legitimate service, like business consulting. What is striking about many independent challenging women as business consultants is the diversity of their skill sets. What is comforting about them is that there is nothing they do that you cannot. They are ordinary women like you, who have made the conscious decision to turn their backgrounds into independent enterprises.
If you run an unincorporated business, either full time or as a moonlighter, you can reduce your income tax by saving for retirement. This is accomplished by putting some of these earnings each year into a Keogh plan or a simplified employee pension (SEP). In both you can defer federal income tax on your contributions and all the money accumulated from investment returns. The money is taxed when you withdraw it.
To qualify for a Keogh plan or a SEP, your earnings must come from your business or from fees for services you provided. The IRS will recognize you as self-employed if the companies that paid you send you Form 1099-MISC, which is used to report non-employee compensation, instead of the Form W-2.
Back in the 1980s, Jacque Blix and Dave Heitmiller were earning a combined $100,000 a year, good money in those days. They drove expensive cars, water-skied off their boat and soaked in their hot tub in the Seattle suburbs. Now both are unemployed. And they couldn’t be happier.
Dave and Jacque figured out that a six-figure income can buy more than possessions: It can buy early retirement. Opting for more time and less money, they called it quits. They are far from alone. Trends Research Institute of Rhinebeck, N.Y., reports a growing number of 40- and 50-year-olds who, voluntarily or not, are simplifying their lives by eliminating their high-paid jobs.
Welcome to the newest womensdish.com resource for entrepreneurs. You asked for desktop tools, and we’re delivering.
These forms — which take less than 30 seconds to download — are free, easy to use and can be saved on your desktop.
Simply click, download and go. There are 23 forms, from sample spreadsheets to boilerplate human resources policies. They’re completely customizable to suit the needs of your business — “just add ideas,” we like to say.
The forms are available to you sorted by subject (Employee Management, Finance and more) as well as in an alphabetical list