An individual who operates a business or profession as a sole proprietor, partner in a partnership, independent contractor, or consultant. He/she must report self-employment income on Schedule C of Form 1040.

Use self-employed in a sentence

Though technically self-employed, I have recently incorporated to provide both certain legal protections and avail myself of tax benefits available.

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My grandfather ran a sporting goods store by himself for his entire life and always considered himself to be employed by his customers, not self-employed as the IRS believed.

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Their is a law that states if your self-employed and work for yourself that you must pay the IRS 12.4 percent for Social Security and 2.9 percent for Medicare in taxes each year. Or you could face a heavy penalty.

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SEP-IRA independent contractor