Business Owners And Social Security

Most business owners are hyper-focused
on growing their business and legacy. But
at some point, they must consider a plan for retirement. That’s why it’s important for business owners
to begin thinking about how Social Security fits into their retirement planning. Social Security benefits are part of the
retirement plan of almost every American worker – including business owners.

Since there are specific
rules for business owners, they should speak with a financial advisor or
accountant before applying. One of the
biggest mistakes business owners make – aside from
starting retirement planning too late – is not
having a plan at all. This is where an
expert can give sound advice on how to navigate retirement.

Business owners can visit www.ssa.gov/prepare/plan-retirement to determine eligibility for retirement
benefits as well as get a benefit estimate.
Our publication, If You Are Self-Employed,
at www.ssa.gov/pubs/EN-05-10022.pdf, provides important information about Social
Security taxes for business owners as well as how to report earnings. Don’t delay, start your retirement planning
today!

Please share this
information with your loved ones.