The average person does not truly know the difference from being a business owner and being slef employed. That’s why today you see so many people creating courses and monetized content and calling themselves business owners and entrepreneurs, but in reality they are not. Key Questions Answered 1. What is the real reason? 2. Why you need to understand the difference ? 3. How to pick the right path? *Pro Tip* Information is key Link: Source: www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes
The past month I’ve been booking jobs and my 2 employees have been doing all the labor, I never have to leave my house unless I’m getting equitment or running multiple crews I’ll work the other crew, is that considered a business owner?
Honestly brother, I've done both, and regardless of the money I am missing out on by not hiring and growing, there's a sense of freedom to work for yourself without adding on the responsibility and stress of hiring employees.
I'm 21, the plan is remote employment, gain experience, save money, invest and start a business later, also learning skills like copy writing now because its interesting to me. No rush tho, enjoying life 🙏
Self employed gives you the ability to declare what you want to the IRS... But if you make it into a business then you are controled by the government with all sorts of lincences, permits, inspection ect.. plus the obligation of reporting exact amount you earned thru your employees
Facts. Little did I know when I was about to grow and hire employees, that I am responsible for a portion of W2 employees' taxes. Working for myself, however, is write-off city everywhere!
Self employed, depending on the size and model of the operation. For example if I'm a business consulting and i run the business my self them I'm self employed. Because the business starts and stops with me, meaning if i get sick then no money that day and the more successful i get the less time i have since I'm doing all the work. But if I'm a business consulting agency, with multiple people that can do the same job i do. Then that would be business owner, main reason is because you dont need to be present for the business to run efficiently. Ps. Good questions, btw i think business plans are great but can also be an excuse not to get started. And when it comes to business consulting it would be someone who you go to, to help you create a business plan, show you the models and can also help you grow your business. I have relative and thats his exactly what he does, his hired by the government and the government pays him to go to small business and help them expand or improve. And just like i mention, the more success he experiences with more and more clients the less time he has.
The average person does not truly know the difference from being a business owner and being slef employed. That’s why today you see so many people creating courses and monetized content and calling themselves business owners and entrepreneurs, but in reality they are not.
Key Questions Answered
1. What is the real reason?
2. Why you need to understand the difference ?
3. How to pick the right path?
*Pro Tip*
Information is key
Link:
Source: www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes
The past month I’ve been booking jobs and my 2 employees have been doing all the labor, I never have to leave my house unless I’m getting equitment or running multiple crews I’ll work the other crew, is that considered a business owner?
Honestly brother, I've done both, and regardless of the money I am missing out on by not hiring and growing, there's a sense of freedom to work for yourself without adding on the responsibility and stress of hiring employees.
I'm 21, the plan is remote employment, gain experience, save money, invest and start a business later, also learning skills like copy writing now because its interesting to me. No rush tho, enjoying life 🙏
Bro....You came outta nowhere with this!
This video is on-point! 🎯
Ayeeee 😎🙏
Self employed gives you the ability to declare what you want to the IRS... But if you make it into a business then you are controled by the government with all sorts of lincences, permits, inspection ect.. plus the obligation of reporting exact amount you earned thru your employees
Facts. Little did I know when I was about to grow and hire employees, that I am responsible for a portion of W2 employees' taxes. Working for myself, however, is write-off city everywhere!
Great explanation, thank you help me understand more how this system works
Thank you for watching
Just curious about your opinion, what would you consider a business plan consultant?
Self employed, depending on the size and model of the operation. For example if I'm a business consulting and i run the business my self them I'm self employed. Because the business starts and stops with me, meaning if i get sick then no money that day and the more successful i get the less time i have since I'm doing all the work. But if I'm a business consulting agency, with multiple people that can do the same job i do. Then that would be business owner, main reason is because you dont need to be present for the business to run efficiently.
Ps. Good questions, btw i think business plans are great but can also be an excuse not to get started. And when it comes to business consulting it would be someone who you go to, to help you create a business plan, show you the models and can also help you grow your business. I have relative and thats his exactly what he does, his hired by the government and the government pays him to go to small business and help them expand or improve. And just like i mention, the more success he experiences with more and more clients the less time he has.
Thank you
Thank you 🙏
I clicked because of Becker :))