Self-Employment


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Related to Self-Employment: 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 ?
Recognizing increased trends toward self-employment as a vocation, NHVR contracted with the Knowledge Institute for Small Business Development (KISBD) to develop two different programs for its customers.
This thesis is also known as the "pull hypothesis," because immigrants and minorities are "pulled" into self-employment in an ethnic enclave where they are able to avoid disadvantages experienced in the general labor market.
Nine hundred job-seekers will be extended help this year in starting their own businesses with self-employment grants of 3,000 euro each, which will help create about a thousand jobs.
In 2012, UCATT estimated that false self-employment in construction was costing the taxman PS1.
Low self-employment is a problem because it hinders economic growth.
Tuzemen and Becker recognize that, in theory, the effects of these core legislative provisions on self-employment are not clear-cut.
Issues: If an individual engages in a trade or business activity, the net profit resulting from that activity is self-employment income subject to the self-employment tax.
The bulk of the self-employed live in some of the poorest places in the world, where self-employment may be born more out of necessity than opportunity.
shares information as well as answers to questions taxpayers may have about self-employment tax.
While the recent statistics showing a rise in UK self-employment to more than 450,000 since 2008 has led to questioning of whether widespread self-employment is actually good for the economy, Prof Pickernell said: "For us, the question is not whether this rise in itself is a good or a bad thing but rather how self-employment can be supported to add more value to the economy and help female entrepreneurs in particular.
The report suggests that low levels of pension saving may be driving people who would normally have retired to opt for self-employment.
A total of 5,835 micro-businesses were formed within five years through the self-employment programme and 75 percent of them survived.

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