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 agriculture, forestry and fishing industry comes first, as 81% of those working in this sector are self-employed.
The Health and Safety at Work Act 1974 (General Duties of Self-Employed Persons) (Prescribed Undertakings) Regulations 2015 law applies to you if your work activity is specifically mentioned in the regulations above or if your work activity poses a risk to the health and safety of other.
It's a welcomed and refreshing alternative from the traditional approaches available to the self-employed.
But according to the Association of Independent Professionals and the Self-Employed (IPSE), which is the largest association of independent professionals in the EU, there remain a number of issues that they believe the next government should consider in boosting the self-employed sector.
His call came as the respected Institute for Fiscal Studies revealed self-employed incomes have fallen 14 per cent since 2010 when Mr Cameron went into No10.
In addition, several characteristics distinguish self-employed women from their male self-employed counterparts as well as from their female wage and salary (2) counterparts.
Today's report, Going it Alone, also calls for changes to the tax system so self-employed people will benefit from tax deductions for investing in training of new skills.
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.
n e typical self-employed worker earned 40 per cent less than the typical employee.
Only 30% of self-employed peo-ple are contributing to a pension, compared to 51% of employees.
Speaking after the meeting, committee chairman Lefteris Christoforou said people who are self-employed are fighting on a daily basis for survival.
The state, however, has seen a more dramatic decline in self-employed workers--an 11 percent decrease since 2003 compared with a 1 percent gain nationally.