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Financial Planning Tips for Self-Employed Older Adults

Money Talk

office supplies, equipment, travel, marketing, and professional services). Set aside a portion of self-employment income to send to the IRS for quarterly estimated tax payments (and/or over-withhold on a pension or Social Security) to ensure compliance with tax regulations. of net business income.

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Does crypto currency have a role to play in employers’ pay strategies?

Employee Benefits

Need to know: Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them. Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days.

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University of Salford targets communications at specific employee groups

Employee Benefits

It offers pre-retirement seminars focusing on a holistic approach to pensions , tax implications, the psychological impact of leaving work, wills and estate planning, that are primarily aimed at older workers but do get interest from younger staff as well. They pass this on through meetings with each department.

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Thatcham Research introduces financial wellbeing scheme

Employee Benefits

Employees can also participate in bespoke financial wellbeing workshops, featuring guides, webinars and in-person seminars on topics such as pensions and protection, budgeting , saving and investing.

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How To Save ÂŁ1000s With Staff Benefits

Enjoy Benefits

Did you know that boosting the amount you contribute to your pension pot throughout your working life could make you nearly ÂŁ100,000 better off by the time you reach retirement? Cycle to Work Staff can save tax and NI on their bike, up to 47%. You can read more here ). Here are a few popular salary sacrifice schemes.

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Cost of Living Bonuses for Employees in the UK: What Employers Need to Know

Empuls

Pension concerns : Some retirees faced challenges related to the adequacy of their pensions in covering their living expenses. This could include rent or mortgage assistance, property tax relief, or down payment assistance for first-time homebuyers. Housing assistance Provide a bonus or subsidy to help with housing costs.

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