Benefits of Self-Employment

  • More money: There is a common belief that people tend to earn more money in self-employment programs. The reason is that the more you work, the more you earn. When you are doing a paid job, you are under the requirement of working for long hours and most importantly you have to perform your best so as to receive good comments from your boss. This means that your performance is profit for your boss. On the other hand, if you work for longer hours and perform best, both appraisal as well as money will be yours. So which aspect is more beneficial? The decision is yours.
  • Less stress: Being self-employed allows your stress level to reduce at a greater extent. You do not have to work on late hours or bring your office work home and work all night. Moreover, you can also move from one project to another at anytime you want and you will not also be directed by anyone, as is the case under paid jobs. Additionally, such an act will only add in your portfolio thereby making it diverse. Handling such a situation under employment can be looked from the fact that an employee is switching his job after six months and is attempting to justify this act in his next interview.
  • Better balance in work and personal life: Since, you do not have to work for late hours or bring in work home; you are in a position to spend more quality time with your friends and family. Moreover, if your self-employment idea is home based, then you can handle all your home chores even better as compared to a routine in which you have to do a regular 9 to 5 job.
  • Attain the satisfaction of being your own boss: It is not a matter whether you are a single self-employment individual or have many employees working with you; the main thing is that you are self-employed and an entrepreneur. When anyone asks you about ‘what do you do?’ or ‘who do you work for?’ you can say with pride that you work for own self. This is not present under employment conditions as many people when asked the same questions do not appear to be happy with their present employer or job.
  • The expenses are tax-deductible: IRS allows various business related expenses to become tax-deductible. However, this aspect is quite sensitive since, different people interpret this factor in different ways. In order to handle this situation in the best possible way you can hire the services of a tax accountant. Through this way, you will be surprised to see those items, which can be claimed, as deductible business expenses. Even the smallest item in your business such as mileage or business meals can add up towards a significant amount when calculated over time.
  • Financial responsibility: Being self-employed allows you to have the opportunities to manage your finances in a more responsible manner. Moreover, you no longer have to rely on your regular paychecks. Having the financial responsibility in your hands will help you to save some money for a rainy day and to get the best possible value for all the purchases made by this money. Although, not many people consider this factor to be an advantage but looking at the positive side you do not have to worry about your finances anymore.