Self-Employment

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Self-Employment

The state of owning a business or working as an independent contractor. In the United States, self-employed persons pay double the social security tax of employed persons, but are entitled to more tax deductions. One calculates self-employed income by taking one's gross income and deducting all business expenses. For example, a self-employed person working from home may deduct a certain percentage of his/her rent or mortgage and not pay taxes on that portion of his/her income. Self-employed income is reported to the IRS on Schedule C of the 1040 Form.
References in periodicals archive ?
Since the start of the year there has been some reports published which have suggested that the rise in self employment hasn't been great for the North East economy.
That is why we have developed initiatives to promote higher value adding activities for women in or aspiring to self employment, in terms of beneficial networking, mentoring and taught courses.
The Self Employment Expo on May 24, 2014 is the only event of its kind.
The first step to creating jobs is encouraging out of work Americans to create a job for themselves through self employment.
In addition to finding that early exposure to self employment raises an individual's likelihood to become self employed, the report found that a younger subgroup has much higher self-employment rates than an older subgroup when the two are compared by age 23.
Khiyovali Village, March 14 (ANI):In order to become independent, the womenfolk of Punjab are trying their hand at self employment programmes.
To measure the self employment attitude, the index scores of the reasons for becoming self employed were added.
The main addition was the identification of persons working for nonprofit organizations, which, of course, has no effect on measuring self employment.
section]1402(e), which provides ministers with an elective exemption from tax on self employment imposed by I.
We don't know how fast self employment has grown over the same period.
Tedco - Tyneside Economic Development Company - was formed as a result of local economic difficulties almost 25 years ago and is promoting the benefits of exploring self employment as a viable career option.

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