The self employed don’t pay taxes! Full-time self-employment is easier than working part-time for someone else! Work at home jobs are easy to get! Sound too good to be true? That’s only because it is. Learn how to separate the self employment facts and fiction…before it’s too late.
Self-Employment: The Fiction
There are lots of myths surrounding self-employment, and even more facts that are hardly mentioned at all. Many professionals find themselves establishing a work at home career, home-based business or other form of entrepreneurship and learning some of these facts a little too late. Find out everything that’s not true about self-employment:
- The self employed can’t receive unemployment benefits. This is fiction! Self-employment assistance programs work just like state-sponsored unemployment benefits, and work at home professionals can obtain these benefits under the same set of requirements. Individuals should talk to their state government to learn how to receive these benefits.
- Independent contractors don’t pay income taxes. It’s true that self-employed professionals of all types (yes, even business owners) are compelled to pay the self-employment tax…but, they are also required to pay standard income taxes as well. Often, independent professionals do not receive standard paychecks with taxes deducted, instead earning monies in a gross sum. These workers are required under law to claim this income and pay subsequent taxes on their own, however.
- Work at home is easy. Perhaps unfortunately, this is also a bit of fiction…but only as far as perception goes. For instance, it’s much easier to work at something that’s loved, for oneself, than it is to do a job that’s only mildly tolerable for someone else. Self-employment in all forms requires hard work. It takes time and perseverance to find work at home jobs, establish a reputation and build a great resume. It’s not easy to work alone, even at home, but it can be very rewarding.
- It takes money to make self-employment work. This is patently untrue, though many believe this when trying to start out in self-employment. Many work at home scams promise packages, products, books, Web sites - anything and everything - as a way to help others establish home-based businesses. Remember this: no legitimate employer will ask their employees for money. Period.
Learn how to separate the myths from the meat when it comes to self-employment. It’s possible to discover the truth about being self employed before it’s too late and a mistake has already been made. Before spending money or earning money through independent efforts, find out about health care, self-employment taxes, insurance concerns and other issues that will arise. Don’t get bogged down in all the fiction- do the research, ask questions and find the answers.
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