Persuasive Essay On Starting A Business
There are some key …show more content…
The earrings grow tax-free, and distributions escape income tax if you use the money for medical expenses. Other wise, you pay income tax plus a 10 percent penalty (Clark).
This way you have money set aside for medical reasons if you may need it. Either way you should have one in place when you start your business.
Plan for your retirement as soon as you start your business. “You’re going to want to retire someday (Clark)”. Rather its is when you get old or when you have enough money too. One good thing about owning a small business when you retire is you contribute more to your retirement accounts then you would if you got a salary job. Make sure you have a plan of whom it going to take over the business. It can be someone in your family or you can have a realtor sell the business for