Self-Employment


Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.
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 ?
Some 42 million manats ($25 million) were provided for financing the self-employment program this year (35 million manats ($21 million) last year).
"While many people choose selfemployment as a way of offering more flexibility and choice, others might be turning to self-employment due to barriers in the job market."
This would capture changes the labor market is experiencing because of the increasing importance of self-employment and online shopping.
There has also been a conscious political decision by UK Government (Start-Up Loans scheme, the New Enterprise Allowance) and Welsh Government (Be The Spark, Development Bank of Wales) to champion self-employment.
The key features of BISE programme comprise of profiling and validation of targeted households on their potential for self-employment. It includes social mobilization and capacity building specific technical skill trainings and business development support, Income Generating Grants (IGGs), access to working capital through Community Investment Fund, business coaching through developing their capacities in asset and business management, numeracy and functional literacy and linkages development.
This degree of underreporting of self-employment taxes has led the IRS to aggressively pursue both taxes and penalties on underreported self-employment income for some LLC members.
We are interested in digging out what factors have affected home-returning peasant-workers' self-employment decision and furthermore, what factors have affected their non-agricultural income, what impact self-employment decision can exert on their nonagricultural income.
Balkin (1989) describes several theories concerning self-employment that economists and sociologists use.
In this context, self-employment may serve as a protective strategy for those who experience taste-based discrimination by employers or customers in either the hiring process or during employment (Becker [1957] 1971).
The goal of the article is to understand better to what extent differences in initial endowments and in capital acquisition may explain the salient differences in the self-employment career dynamics between transgenerational entrepreneurs and self-made start-ups.
Self-employment loans will be extended to those who complete training/apprenticeship, especially in the information technology and other knowledge-based sectors.

Full browser ?