self-employed


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Related to self-employed: freelancer

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.

self-employed

a person who provides his LABOUR (and management) services as a FACTOR INPUT to his own FIRM in the production of a good or service. Self-employed persons act as ENTREPRENEURS, undertaking the risks of running a business, providing some or all of its capital and often hiring EMPLOYEES to perform some of the jobs involved. Self-employed workers constitute a large proportion of workers in such industries as domestic electrical and plumbing services, specialist retailing and hairdressing. See LABOUR FORCE.
References in periodicals archive ?
The research also suggests that up to two-thirds of self-employed workers have considered a switch to employment to make the mortgage process easier.
The AK also criticizes the fact that self-employed and farmers are being given relief by 2020, while workers and pensioners have to wait one year longer.
Kai Feller, Bark.com co-founder, said: "At Bark we work with thousands of self-employed sole traders, and thought it would be interesting to see how much they earn a year.
More than half of those self-employed homeowners and would-be borrowers who felt overlooked or penalised due to being pregnant, believe they were treated differently during the mortgage application process.
It found that almost three-quarters (71%) of self-employed borrowers believed it was more difficult for them to get a home loan due to their employment status, in no small part due to the extra hoops they have to jump through compared to borrowers who are employed.
Two out of three of the self-employed or 68 percent are men.
Together these categories accounted for 90 per cent of the total number of self-employed.
The Department of Labor and Employment (DOLE) defines a self-employed worker as one "engaged in any trade or business or occupation, who has no employer other than oneself, derives an income of at least P2,000 a month from his or her physical and mental efforts, and who is not over 60 years of age, during the time of initial coverage."
The remaining 30 billion won in loans will help former self-employed people, who shut down their shops, and restart other businesses.
"The nonemployer statistics show a phenomenal increase in the number of self-employed taxi drivers," said James Spletzer, principal economist at the Center for Economic Studie(https://www.census.gov/ces/) s.
The Government doesn't exactly have a stellar relationship with the self-employed after trying to clobber them with tax rises in Budget 2017.
The researchers found observed a decrease in the weighted percentage of self-employed physicians from 35.2 percent in 2001 through 2005 to 24.7 percent in 2011 through 2015.