Do you want to feel free in your job to make your decisions, choose your co-workers, set your hours? Do you feel comfortable working for someone else? Today, more and more people are becoming self-employed; people do not want to work for others. People seem to think it is easier being self-employed, but the reality is, it is more difficult than working for someone else. An employer and an employee both have their advantages and disadvantages. Three major differences between being self-employed and working for someone else are in benefits, taxes, and stress. Being self-employed or working for someone else is a personal preference, but owning your own business is sometimes not as glamorous as it may seem. .
First, benefits are an important issue. When a person chooses to work for someone else, one thing they want to know before they begin work is what kind of benefits come with the job. Usually, companies offer medical insurance, dental insurance, and some retirement plan; such as 401 K. The company, in some cases, will pay a percentage of both the insurance and the retirement. .
When people choose to be self-employed, benefits do not come with the job. Self-employed people have to supply their benefits. Although employers can deduct premiums from their taxes, they have to provide their medical insurance. It is difficult, for an owner of a small business, to get dental insurance; because most insurance companies do not offer dental insurance unless there are a large number of employees. Self- employed people also have to take care of their retirement.
Second, there is a huge inconvenience called, "taxes." When people choose to work for someone else, their taxes are taken out of their salary before they receive their paycheck. They do not have to worry themselves with figures. They do not have the hassle of figuring out which form to send for each different type of tax. The paperwork is difficult and has to be precise.