Self Employment
BY admin | 18 days ago | 0
Self Employment. Self-employment is working for one’s self. Self-employed people can also be referred to as a person who works for himself/herself instead of an employer, but drawing income from a trade or business that they operate personally.
To be self-employed is not necessarily the same as being a business owner: A business owner is not required to be hands-on with the day-to-day operations of his or her company, while a self-employed person has to utilize a very hands-on approach in order to survive. According the US Bureau of Labor Statistics, only 44% of businesses survive the first 4 years in business.
Policymakers increasingly view self-employment in the form of youth entrepreneurship as a possible solution to the youth unemployment crisis. However, many experts believe only 20% of all people are fit to run their own businesses, so it shouldn’t be relied on as an “easy fix”.
Here you will find resources that help self-employed individuals start and operate their businesses.
|
Starting a Business
Visit your state’s small business guide to learn more about startup requirements in your state.
Financing a Business
Federal and state government agencies do not provide grants to self-employed individuals for starting a business. However, there are a number of low-interest loan programs that help individuals obtain startup financing. Visit the Loans and Grants Search Tool to get a full
list of grant, loan, and venture capital programs for which you might
qualify.
Tax Information for the Self-Employed
-
Employer Identification Number
An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity.
-
Small Business and Self-Employed One-Stop Resource
Offers a broad range of state and local tax information including resources for specific industries, professions, self-employed entrepreneurs, employers and small businesses.
-
Online Classroom
The Small Business/Self-Employed online classroom has a series of self-directed workshops on a variety of topics for small business owners.
-
Self-Employment Tax
The Self-Employment Tax is a social security and Medicare tax for individuals who work for themselves.
-
Sole Proprietorships
Provides a listing of tax forms a sole proprietor is to file and additional resources.
Visit your state’s tax agency to learn more about state taxes required for self-employed individuals.
Social Security
Government Contracting Opportunities
|
