Comments on: Social Security and the Home Business Owner http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/ The Internet Magazine for the Home Office Entrepreneur Thu, 20 Nov 2008 21:02:43 +0000 http://wordpress.org/?v=2.3.1 By: Jim Perrin http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-173 Jim Perrin Sun, 03 Feb 2008 02:47:29 +0000 http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-173 Grant, you're probably okay for Social Security. From what I can see, most of the Boomers will probably keep working as long as they can. That's one of the things about our dynamic economy - it allows rapid adaptation. But make sure that your kids plan early - I'm not sure that there will be any safety net for them. Grant, you’re probably okay for Social Security. From what I can see, most of the Boomers will probably keep working as long as they can. That’s one of the things about our dynamic economy - it allows rapid adaptation. But make sure that your kids plan early - I’m not sure that there will be any safety net for them.

]]> By: Bob Kraft http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-177 Bob Kraft Sun, 03 Feb 2008 00:28:50 +0000 http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-177 Grant, I wrote a lengthy post last month on the effect of Baby Boomer retirements on Social Security benefits. You can see it at http://www.pissd.com/2008/01/baby-boomer-ret.html. It might make you feel a little better about receiving your Social Security retirement benefits, but worse about getting Medicare. Bob Kraft Grant, I wrote a lengthy post last month on the effect of Baby Boomer retirements on Social Security benefits. You can see it at http://www.pissd.com/2008/01/baby-boomer-ret.html. It might make you feel a little better about receiving your Social Security retirement benefits, but worse about getting Medicare.

Bob Kraft

]]> By: jeff zbar http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-176 jeff zbar Sat, 02 Feb 2008 14:39:19 +0000 http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-176 True, the disadvantage of what is known as the "self-employment tax" (essentially paying both halves of the 15%+ of withholding - half of which is paid by employers in the non-home business workplace) is only exacerbated by the realization that by the time I'm in my 60s, the Federal Government will have boosted the retirements/benefits age to 70 or so. And even by that time, the cupboard will be bare and I'll be living with my kids (so THAT's why I treat them so kindly today ;-). But in all seriousness, for about the past 10-12 years, I've had money directly withdrawn from my business checking account and deposited into my SEP IRA. It's tax deductable today, and funds my peace of mind for tomorrow. I/we cannot rely on Uncle Sam to provide for me/us. The only people we home officers can rely upon are ourselves. Isn't that why we started working from home in the first place...? True, the disadvantage of what is known as the “self-employment tax” (essentially paying both halves of the 15%+ of withholding - half of which is paid by employers in the non-home business workplace) is only exacerbated by the realization that by the time I’m in my 60s, the Federal Government will have boosted the retirements/benefits age to 70 or so. And even by that time, the cupboard will be bare and I’ll be living with my kids (so THAT’s why I treat them so kindly today ;-).

But in all seriousness, for about the past 10-12 years, I’ve had money directly withdrawn from my business checking account and deposited into my SEP IRA. It’s tax deductable today, and funds my peace of mind for tomorrow. I/we cannot rely on Uncle Sam to provide for me/us. The only people we home officers can rely upon are ourselves. Isn’t that why we started working from home in the first place…?

]]> By: Mary Emma Allen http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-175 Mary Emma Allen Sat, 02 Feb 2008 00:16:15 +0000 http://homeofficewarrior.com/2008/02/01/social-security-and-the-home-business-owner/#comment-175 I'm pleased you found my posts about Social Security at Home Biz Notes of interest. This definitely is a topic that requires much thought and planning. I’m pleased you found my posts about Social Security at Home Biz Notes of interest. This definitely is a topic that requires much thought and planning.

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