Why be afraid of being self employed? Because self employment means being all alone with no security, no stability and no safety! Doesn’t it? The good thing about self employment is that there’s a lot of information out there for those who want to learn more about working at home. The bad thing about it is that there’s a lot of information out there which serves to deter those who might be considering work at home. Sounds confusing, right? This is only one reason why many may shy away from the idea of becoming self employed. Find four reasons not to fear working at home.
Being Self Employed Doesn’t Mean Being Insecure
Those who are self employed must rely upon themselves to find jobs, get the jobs and complete the work to fulfill the responsibilities of those jobs. There can be some level of instability in self employment, but this doesn’t mean there’s no security whatsoever. It’s more than possible to develop a relationship with a specific client, company or Web site, someone who will provide regular work for stable pay – even in self employment. In fact, as the professional gains a reputation and begins to become more experienced in their chosen field, it’s more likely they’ll land the sort of jobs that will help them enjoy stable, secure self employment and regular pay.
Self Employment Doesn’t Equal Boredom
Working at home, working alone, sounds like a real drag to professionals who are used to a busy and active working environment. Wouldn’t work be impossible without that daily dose of inter-office gossip, the frequent quips and jokes, an occasional lunch date with a friend from the job? It’s still possible to maintain an active social life even when self employed. Why not enjoy the occasional lunch break, a quick phone call here and there, a little walk around the block or a stop in the self employment chat room online? Working alone doesn’t necessarily mean being lonely.
Self Employment Doesn’t Cost Too Much
Self employment comes with an extra tax and plenty of extra tax paperwork. Doesn’t this mean that those who work at home actually pay more? Why pay extra to be self employed? It’s true that independent contractors, self employed professionals, must pay a self employment tax. A chunk of this tax, however, covers federal and state costs (such as Social Security and Medicare) which would ordinarily be deducted out of payroll checks. Self employed professionals aren’t always necessarily paying more on their taxes, it’s just that these tax payments are often made in a lump sum rather than through the course of the year. Alleviate the burden by keeping a savings account and making regular tax payments.
Even the Self Employed Can Find Support
Think that being self employed means being all alone? There are many government-sponsored programs, loans and resources which exist solely to help self employed professionals. This gives even those who work at home a support system, a little bit of insurance against an uncertain world.
Why be Afraid of Being Self Employed
It’s a little scary to start a new job and a new way of life, but no more frightening when it’s self employment than when it’s a new position at a local office. Working at home doesn’t have to feel scary, and it shouldn’t. Remember it’s something that anyone can do, that it does take a good deal of real work, and that there are plenty of resources available in self employment.
Benefits of Self Employment
Many of the benefits of self employment seem obvious – professionals work at home, find their own jobs and call all the shots. After all, employing oneself is a big deal. Surely there must be more benefits. In self employment, what comes with the job?
Working at Home
To those who don’t work at home, the idea of self employment sounds fantastic. They imagine days of lounging around the house in pajamas, drinking coffee and watching daytime TV. The reality is that self employed professionals have to remain disciplined and highly on schedule to keep up with the work load and avoid missing deadlines.
Finding jobs itself is a scavenger hunt where one must separate the viable opportunities from the down-and-dirty scams, the on-the-level employees from the ones who are just going to use professionals for free work. There is no employer to offer a biweekly paycheck on time every time – sometimes, employers in self employment never pay at all. If equipment breaks, the professional has to take care of the problem – without the aid of anyone else. It is lonely, and sometimes it is taxing. It’s self employment, and it is still work.
Self Employment Taxes
Okay, so maybe working at home isn’t always as carefree as it seems in the imagination, and perhaps paychecks don’t roll in steadily so budgeting becomes a prime work concern. But don’t self employed professionals get all sorts of tax benefits to make the job more worthwhile?
It’s true that most self employed professionals do not have taxes taken out of the money they receive from various clients and employers. But those who work at home still have to fill out tax paperwork and they are not at all exempt from paying income taxes. Instead, they must pay income taxes on a monthly, quarterly or yearly basis – and they must pay an additional tax known as the self employment tax.
Those who are self employed do not have benefits such as 401k plans or health insurance. Independent professionals who want to enjoy these perks must purchase them or invest in them on their own, with their own time and money. Often, the benefits offered to individuals cost much more than benefits offered through an employer.
What Comes with the Job
Those who are self employed work for themselves in every sense of the word. Yes, work at home professionals enjoy the benefit of being at home, but they do not receive all the benefits professionals in an employer-based setting enjoy.