Is self employment earned income?

Is self-employment earned income?

I am just starting to think about working for myself and am a little unsure of the terminology.

Any information is gratefully received...

Comments for Is self employment earned income?

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by: Jackie

Yes, it is

The tax man worldwide wants to know about everything you earn either

in a job

So you can be taxed accordingly.

If you are asking because you are filling in your tax forms, it is worth reading the local government website to see what allowances you can have and you may be able to offset tax.

Or, even though it seems expensive at the time, employ an accountant even just for an hour because it's their job to navigate the minefield that is the tax system.

They could more than likely save you the cost of their fee by knowing the right information that you could possibly miss as a layperson.

Don't skimp on tax advice, even at the beginning because it could cost you thousands and there is no such excuse as "I didn't know" with the authorities.

Good luck on your new journey if you are just starting x

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