The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: t.Retirement won't happen for me||Date: 9/2/2006 5:39 PM|
|Author: vickifool||Number: 53481 of 76398|
It appears to me that most of you guys are, well, guys. You proabaly are single or have wives who work and/or contribute to your lives otherwise. I am a single mom, like lots of other single moms, raising two daughters. I put myself through vet school 31 years ago and today own my own clinic. .... Small business owners are not allowed to deduct their own healthcare. I work 60 to 80 hours a week and with arthritis, struggle with 100 pound retrievers all day long. I provide my employees 100% of their healthcare, offer retirement accounts, flex accounts, continuing education and disability insurance but I am not allowed to have many of those benefits.
My dentist says they changed the laws--now she can deduct health insurance. Before that, her husband worked for her and she was only covered as his spouse! I think he started as her receptionist.
And I know you can have a retirement account as a small business owner. They have special ones just for small businesses. SIMPLE and SEP-IRA.
Find a competent accountant who knows about this sort of thing.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|