Self-Employment DRILL

Front

What is the primary difference between being self-employed and being a traditional employee?

Back

Self-employed individuals work for themselves and are not tied to an employer.

Front

Which of the following is NOT a responsibility of a self-employed person? Choose the best answer: Paying estimated quarterly taxes, Finding work for themselves, Ensuring they abide by tax laws.

Back

Receiving paid vacation time.

Front

What is one major tax obligation that self-employed individuals must fulfill? Choose the best answer.

Back

They pay a self-employment tax of 15.3% on their earnings.

Front

Which of the following statements best describes the relationship between self-employment and business ownership? Choose the best answer:
All self-employed individuals own a business.
A self-employed person is usually the business itself, while a business owner may not manage the business.
Business owners do not have to worry about taxes.
Self-employed individuals can only work for one client.

Back

A self-employed person is usually the business itself, while a business owner may not manage the business.

Front

What is one potential advantage of being self-employed?

Back

The ability to choose projects and work hours.