The employment status of a worker can be a veritable minefield for an employer if the wrong decision is made. Should an employer decide the status of a worker is self employed and treat that worker as self employed rather than deducting tax and national insurance the employer could be at risk of incurring a [...]
The advent of the internet and its consequent development over the years has opened up numerous online opportunities for self employment. Before getting onto the various aspects of self employment it is essential to define what self employment actually means. Self employment precisely means working for oneself where he/she exercise entire authorities or controls independently. [...]
The Self-Employment tax isn’t actually a new tax you have to pay once you start your own business, it’s a continuation of the Social Security and Medicare taxes that you paid as an employee, but with a variation. Employees have their social security and medicare taxes withheld from their paychecks as the FICA withholdings, (Federal [...]
Registration in the Dutch trade register is compulsory for every company and every legal entity, including ‘freelance’ and ‘zzp’ (‘zelfstandige zonder personeel’ or self-employed without staff). When you have decided to start your own business a new world is opening up, with a wide variety of possibilities. You could open a shop or start your [...]
Many people are attracted to the benefits of self-employment, from setting your own hours and being your own boss to having control over the development of your business and career. The control over your lifestyle and work is a good reward for the risks involved in setting out on your own. But there are definite [...]
If any person individually operating a business or practicing any particular profession or is only a sole trader, an independent contractor or an independent consultant, then they are deemed as self employed. A self employed individual has his own set of problems and getting self employed loan is not so easy. In UK [...]
As a self-employed independent contractor, the tax clock is ticking and you’re in danger of letting serious income tax relief money slip through your fingers. If you’re not careful, you could also make some common self-employed independent contractor income tax mistakes that will mean you’ll owe back taxes on your 2009 income tax return. For [...]
How do you establish if you are in self employment or in employment for UK tax purposes. There is no actual or legal definition of what employment or self-employment is and it is based on previous judgments which are commonly referred to as ‘case law’. There are some key points to take into account in [...]
Taxpayers who work for themselves pay self-employment tax. It is primarily a Social Security and Medical tax similar to the one withheld for taxpayers who work for someone other than themselves. Examples of the self-employed are contractors, sole proprietors, and small business owners. Self-employed people can work part time or full time. If you work [...]
“Dreams are the gateway to success ” – If you think you can you surely can make it , though its easy to dream but tough to mark one’s presence. Self employment is chosen by people who want to mark their individual presence in the world of business. Desire to rule the world is a [...]