Self-Employed Person

Self-Employed Person
An independent contractor or sole proprietor who reports income earned from self-employment. Self-employed persons control who they work for, how the work is done and when it is done.

Self-employed persons must pay estimated taxes, usually on a quarterly basis, to cover their FICA and FUTA contributions. They must pay twice as much of the FUTA tax as W-2 employees, who have half of their Social Security and Medicare tax paid by their respective employers.

All self-employed persons report their business income and expenses on Schedule C.


Investment dictionary. . 2012.

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  • self-employed person — savarankiškai dirbantis asmuo statusas Aprobuotas sritis darbo ir užimtumo statistika apibrėžtis Turintis verslą asmuo, kuris dirba vienas arba su partneriu ( iais) ir neturi nuolatinių samdomųjų darbuotojų. atitikmenys: angl. self employed… …   Lithuanian dictionary (lietuvių žodynas)

  • self-employed person — noun a writer or artist who sells services to different employers without a long term contract with any of them • Syn: ↑freelancer, ↑freelance, ↑free lance, ↑free lance, ↑independent • Derivationally related forms: ↑freelance ( …   Useful english dictionary

  • self-employed worker — savarankiškai dirbantis asmuo statusas Aprobuotas sritis darbo ir užimtumo statistika apibrėžtis Turintis verslą asmuo, kuris dirba vienas arba su partneriu ( iais) ir neturi nuolatinių samdomųjų darbuotojų. atitikmenys: angl. self employed… …   Lithuanian dictionary (lietuvių žodynas)

  • self-employed retirement plan — A retirement plan of a professional man, proprietor of a business, partner, or other self employed person whereby he sets aside a specified part of his current earnings for use as a retirement fund in the future, which plan, if qualified under… …   Ballentine's law dictionary

  • self-employed — ˌself emˈployed adjective JOBS 1. having your own business, rather than being employed by a company: • Over a quarter of agency supplied computer staff are self employed. • Many self employed businessmen are dependent on loans for working capital …   Financial and business terms

  • self-employed — In law, the key tests as to whether a person is an employee or an independent contractor include whether the services are carried out by a person on his own account, and the degree of control over the performance of the job. Easyform Glossary of… …   Law dictionary

  • self-employed — ADJ If you are self employed, you organize your own work and taxes and are paid by people for a service you provide, rather than being paid a regular salary by a person or a firm. There are no paid holidays or sick leave if you are self employed …   English dictionary

  • Self-Employed — A situation in which an individual works for himself or herself instead of working for an employer that pays a salary or a wage. A self employed individual earns their income through conducting profitable operations from a trade or business that… …   Investment dictionary

  • self-employed income — taxable income of a person involved in a sole proprietorship or other sort of free lance work. Bloomberg Financial Dictionary …   Financial and business terms

  • Self-employment — is the individual pursuit of capitalism. To be self employed, an individual is normally highly skilled in a trade or has a niche product or service for their local community. With the creation of the Internet the ability for an individual to… …   Wikipedia

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