California self-employment tax deduction
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Key Terms
Asset: Any item that has value in an exchange. A bank account, a home, or shares of stock are all examples of assets.
Business income: The money a business receives for selling its goods and services is its income.
Entrepreneur: Someone who organizes, manages, and assumes the risks of a business or enterprise.
Form W-4: A form that the employee completes and the employer uses to determine the amount of income tax to withhold.
Gig: A single project or task for which a worker is hired to work on demand.
Some gigs are a type of short-term job, and some workers pursue gigs as a self-employment option.
Gig economy: Generally, an informal term for situations where people are hired for single projects or tasks or for short-term jobs, often through a digital marketplace.
Independent Contractor: A person performing work who has the right to control or direct only the result of the work and not what will be done and how it will be done.
If you are an independent contractor, then you are self-employed.
Lender: An organization