What resources, information, tips, and/or advice do you have for someone who is considering self-employment?
I am thinking about starting my own baking business. Not opening a bakery, but working from my home. (I know the pieces and parts of licensing, etc. for that.) Along with that, I am considering picking up some online tutoring work.
Both of these would leave me without someone deducting FICA, federal, state and local income taxes. That’s a big piece I need to know more about. We do have an accountant, who also teaches tax law, so I plan to make an appointment with him. However, I would appreciate any information or resources that you care to share.
I have a couple of thought about how to market the baking business, but am open to suggestions.
I’m also interested to know about the pitfalls that you – or someone you know – have encountered in these two types of employment.
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