Self-Employment

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Related to self-employments: Self employment tax

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 ?
From this group, the subset of people with second jobs (other work) was selected in order to determine the proportions of these private workers who declared self-employment as their other work (SEOTR).
Among non-movers, non-metro areas showed the highest rates, consistent with pattern of primary job (unincorporated) self-employment rates.
It is also interesting to note that although non-movers had significantly higher proportions of people whose other work involved self-employment, movers were about twice as likely to have secondary work of any type.
Non-metro residents regardless of migration status had the highest rates for unincorporated self-employment with the exception of non-metro women movers whose 3.
However, even in principal cities, non-movers had higher rates of self-employment, which could suggest that people who are natives to a given location are more willing to open businesses there.
Considering past research relating rural small business owners' desire to live in their home locations, and the high rates of self-employment among non-movers in non-metro areas, this study supports the notion that rural residents in particular may prefer to create their own jobs than to move away.
The higher rates of incorporated self-employment in balance metro areas may be associated with larger businesses in more populated or wealthier areas.
Self-employment in metropolitan and non-metropolitan Pennsylvania Counties.

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