Learn something new every day
More Info... by email
There are many advantages of being self-employed. Some of the benefits of self-employment include flexibility in scheduling along with sometimes being able to work from home. Those who are able to work from a home office may also enjoy a number of tax benefits. People who work for themselves tend to have greater control over the type of work they perform and the way they complete their jobs. Workers often make higher wages than they otherwise might if they worked for another individual.
One of the benefits of entrepreneurship is the ability to decide what hours the business will operate. This results in greater flexibility in scheduling for self-employed individuals. Employees are often able to plan vacations and personal time more efficiently as well. Some employees are able to schedule breaks and a lunch around necessary appointments, so little time off is needed.
Many entrepreneurs are able to operate their businesses from a home office. The benefits of working from home include saving money on transportation, childcare expenses, clothing, and incidentals. This can in turn save the worker a great deal of money. For these reasons, telecommuting is often listed as one of the primary benefits of self-employment.
Self-employed workers usually choose the type of work they want to do. They can often decide how they want to complete their tasks, and do so without constant supervision. Having control over the way work is performed is one of the benefits of self-employment for many workers.
Tax benefits of self-employment vary from one location to the next. Some jurisdictions allow entrepreneurs to deduct some of the costs associated with using their personal automobile. Workers who utilize a home office may be able to deduct a portion of their rent and utilities on their income tax return.
Self-employed workers have an opportunity to grow and advertise their businesses in the manner they see fit. This can lead to a sense of pride and accomplishment when the business becomes successful. For many individuals, this success is often measured with higher wages than they may have earned working for someone else.
People who work for themselves have greater control over benefits such as retirement plans and health care coverage. They can usually choose the plans they need most and select the coverage amount they are able to afford. This typically means their benefits better meet their needs than those that would be offered by a traditional employer.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!