Self-Employed

Definition: Self-employed individuals work for themselves rather than being employed by a company. They operate their own businesses, offer services directly to clients, or engage in independent activities to earn income, often assuming full responsibility for taxes, expenses, and business decisions.

Example: A jewelry maker selling handmade earrings through Etsy or at craft fairs is self-employed and responsible for managing their income, expenses, and taxes.

Resources:

• Tax Resources for the Self-Employed: Tools like TurboTax Self-Employed simplify filing taxes and tracking deductions.
• Business Banking Solutions: Banks like Bluevine offer business accounts tailored to self-employed professionals.
• Freelance Management Tools: Platforms such as HoneyBook help streamline contracts, invoicing, and client management.

Learn More: Read our guide to discover how self-employed individuals can classify their businesses and stay financially organized.