The Advantages Of Self Employed Commerce Essay.
This helpsheet deals only with the advantages and regulations of being self-employed. Tax Advantages Cash-flow. As a self-employed person you only have to pay income tax twice a year on 31 January and 31 July. This means you can hang on to your money for longer than an employee who has tax deducted under PAYE from every pay packet.
People choose to become self-employed for a variety of reasons, but simply disliking your current job, or perhaps not having one at all, is not necessarily the best reason. Thinking about the questions above will help you evaluate the idea of self-employment from a realistic perspective. Potential advantages and disadvantages of self-employment.
Personal satisfaction is another common reward of self-employment. Self-employed people get a sense of accomplishment from figuring things out on their own. Personal satisfaction can also come from doing the kind of work they desire, rather than fitting into an established occupation or an established or an established company.
The Advantages and Challenges of Being Self-Employed You have to plan, and save aggressively, to make the most of the arrangement.
Self-employment: a great challenge! As you can see, becoming a self-employed person has its advantages and disadvantages. However, if that’s what you really want, it can be worthwhile, provided you are well prepared. And in order to be well prepared, you must have the right tools at your disposal.
The Tax Advantages of Self-Employment. This helpsheet gives you an outline of what it means to work for yourself as a self-employed person. There are a number of advantages of being self-employed, but you must also comply with various regulations including the tax law.
Only you can weigh up the advantages and disadvantages of self employment, depending on your own circumstances. I’d just caution you to be realistic in your evaluation. Overall, being self employed is working out for me as a lifestyle choice which allows me to work flexibly from home.