Can You Become Your Own Insurer? Exploring the Possibilities of 831(b) Captives

In the ever-evolving landscape of risk management, 831(b) captives have emerged as a captivating strategy for businesses seeking to optimize their financial standing. But what exactly are they, and how can they potentially benefit business owners? Imagine this: Instead of relying solely on traditional insurance providers, your business becomes its own mini insurance company. This,...

Secure Your Golden Years: Exploring Defined Benefit Plans for Solopreneurs

Building a successful solo business is exciting, but don’t let planning for retirement fall by the wayside. Defined benefit plans, traditionally associated with large corporations, can be a powerful tool for solopreneurs to achieve financial security in their later years. What Exactly is a Defined Benefit Plan? Unlike traditional IRAs or 401(k)s where the retirement...

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