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.
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References in periodicals archive ?
"Earnings, Independence, or Unemployment: Why Become Self Employed?" Oxford Bulletin of Economics and Statistics, Vol.
Member States should:- recognise in their national policies that self-employed workers have an equal right to protection from health and safety risks at work;- include self-employed workers in national legislation on occupational health and safety, or adopt specific measures for this category of worker;- ensure that self-employed workers have access to the necessary information on accident prevention and health, without having to pay excessive charges;- enable self-employed workers undergo the necessary health and safety training at low cost;- take account of the experience of other Member States;- ensure effective application of legislation for the self employed;- report back to the Commission on the effectiveness of measures adopted after a three-year period
The following tabulation shows the disparity between the two groups in average hours worked per week during 1993 for those on full-time schedules:(6) Average weekly hours Industry Self employed Wage and salary Agricultural 54 47 Nonagricultural 48 43
She said: "As an organisation we provide practical assistance to members who are self employed, providing legal support and help with tax issues.
Across Wales the total number of self employed is 155,000, 11.9% of the region's workforce, compared to 12.6% in Britain
The Bill, which outlines a new "right to be self-employed", would create a Self Employed Register which would be open to all.

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