Exploring the Tax Benefits of Being Self-Employed
Self-employed? Or corporate job? Working for yourself means freedom. But then you lose the support of an employer. What if you could beat the system and have it all?
That’s a snapshot of what it means to be an agent for Tallgrass Freight. Our agents are self-employed, so they have the flexibility to set their own schedules and claim all their own tax write-offs—rather than their company reaping all the benefits. At the same time, they enjoy many perks you’d expect from an employer.
One of the most exciting advantages we offer our agents is our Continuing Education series, which launched on Friday Oct 20th with a helpful discussion of the tax benefits our agents gain from not technically being our employees. Almost makes your head spin, doesn’t it?
“Leveraging the Benefits of Owning Your Own Business” a personal seminar with Michelle Unruh of Tripp Tax & Financial Services, provided in-depth information on how agents can make the most of their hard-earned money.
Michelle covered key topics including the various advantages of setting up as an LLC, S Corp or Sole Proprietor versus operating as an individual. She went into detail on deductible expenses from cell phone bills to mortgage payments, sometimes even dinners or travel. Naturally there were many questions around how often to pay and how much to save so that Uncle Sam doesn’t get a surprise bonus out of a personal checking account. But some topics weren’t immediately obvious, including whether to sell a personal car to the company or apply for a separate business credit card for expenses.
It was incredibly informative. We wish you’d been there.
But chin up, because we’re always happy to help you track down answers, no matter when you join us. And we’re already lining up some exciting topics for next year:
Investing Options for the Self-Employed
Think that working on your own signals the end of 401k? Not at all. Our rep from Morgan Stanley will discuss your investment options.
Working for yourself is the dream right until you realize there’s no one to cover for you while you go on a cruise. Our new concierge service will solve that. We’ll share all the details.
To find out more about Tallgrass Freight Independent Agent opportunities, email info@TallgrassFreight.com or visit www.TallgrassFreight.com.