Fortune real estate Key Takeaways Home-office deductions |Continuing education |Vehicle for business use | Health insurance | Social security taxes | Retirement |Covid-related sick & family leave credits | Start-up costs | Equipment & supplies | Qualified business income deduction --- Because of the Covid pandemic, shutdowns, remote work, and massive layoffs, many people have discovered the joys of self-employment. Even with the economy in recovery, employers are having difficulty attracting workers, and it’s easy to see why. When you’re self-employed, you get to keep all the profits from your labor. You get the flexibility to set your own hours, and you can even make money by doing something you already enjoy. Then again, being self-employed comes with its own set of problems. For one thing, you have to manage your own taxes. For another thing, you have to pay self-employment tax, which is an extra amount over and above what you pay in income tax
