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Self-Employed
By cpa | January 14, 2008
If you are in business for yourself, or carry on a trade or business as a sole proprietor or an independent contractor, you generally would consider yourself a self-employed individual. You are an independent contractor if the person for whom you perform services has only the right to control or direct the result of your work, not what will be done or how it will be done.
You are self-employed if any of the following apply to you:
- You carry on a trade or business as a sole proprietor;
- You are a member of a partnership or limited liability company that files a Form 1065, U.S. Return of Partnership, that carries on a trade or business; or
- You are otherwise in business for yourself.
You are also self-employed if you have a part-time business, in addition to your regular job.
Topics: Individuals |