Personally, I find it a huge opportunity cost because of potential client loss + being unable to run the business, with the only caveat being able to catch up with friends.
It's a huge pain in the butt, because once you get the 6 month notification and don't defer you essentially have to hope like hell you don't land any huge clients that need your expertise during that period.
What are some of your ways on mitigating this? Or just LLST?
I have recently stopped working for a business. It hasn’t ended on good terms as the business owner is aggressive.
I am a tattoo artist working in England and clients have paid me deposits for work that I can still honour just not in the place I’ve left.
The owner of the business is claiming that I need to give him all of the deposits for my own services so he can refund them to my own clients.
I never signed a contract whilst working for him.
Does he have any legal standing? Can he make me pay back money my clients have given me?
He also has my supplies locked up at his shop that I fear he might withhold, steal or destroy.
It makes me sick to my stomach lately to see celebrities and the wealthy receive debt forgiveness for millions of euros when I was mercilessly attacked & suffered mental illness from 2009 by AIB & the tax man when my wife and my 2 new babies lived on €10k earnings. The self employed are so vulnerable in this country because our line of business is the first thing to evaporate when a downturn happens. If a recession happens again I will kill myself because I can’t cope with the lack of supports in this country.
Hey there, I'm a software engineer by degree (B.E), self employed person + owner of a startup. I'm well established in my country (Pakistan) and don't have any problems with it, it has everything from the low cost of living, less taxes etc but of course that comes with a bad infastructure, pollution, less standard of living etc.
I've few relatives in waterloo and few clients in Toronto who are so nice and always complimenting Canadians. Which has left me really impressed and once googled "movies filmed in Canada" and watched all of them.
I plan on going through the express entry program as I'm young and I believe this is the only chance, I guess it'll get harder in future and possibly close.
I'm alright with doing a job for few years (probably will have to get one for the extra points), but I prefer to work self employed so will transition to self employed later to a proper business most likely.
So wondering how's it like there for a self employed immigrant, as the income really isn't stable. Can we get tax benefits, loans etc? - I don't want to risk going homeless in a foreign place haha.
Thanks!
(USA!)
I'm assuming most self employed people can't get unemployment benefits. I have a small savings but all the new work I'm reaching out to is telling me they're postponing new jobs until after Corona is over.
pretty much that. Not sure what annual business account of a self-employed person means, and I've googled around.
Original here https://www.reddit.com/r/LegalAdviceUK/comments/lpz853/business_owner_is_claiming_i_owe_him_money_as_a/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I spoke to the Citizens Advice Bureau to confirm and I’ve been passed on to my local Legal Advice. So I informed him that I did not need to repay the deposits from my clients.
He has now refused to allow me to collect my supplies from the shop until I repay him or my clients send their vouchers back (the deposits were issued as vouchers)
I will contact the four clients and collect the vouchers myself if I need to.
What can I do to retrieve my property? There’s around £4-500 worth of tattoo supplies. Would the police escort me to collect it? I don’t feel safe going there.
My business bank account is with Wells Fargo. I’m a self employed barber. The money I make is deposited into that account and then I take a reoccurring weekly draw of $600 to my personal accounts to pay for person expenses. I don’t have payroll. All I did was submit my bank statements and taxes.
It works for me.
I pay very high taxes. I also have credit cards that I would make a substantial margin on if I paid taxes using these cards on the direct pay tax websites rather than letting my employer withhold income. I'd like to try doing this but am not clear on legality. All the websites I find just address the self-employed population, not salaried workers.
So is this legal? I'm assuming the government doesn't care as long as you don't underpay throughout the year. Has anyone done it? Thanks.
TLDR: It estimated a $433 monthly credit. Example plan: $467 monthly premium (with credit) $3700 Individual deductible/ $7400 family Out of Pocket Max $3700/$7400 family
Would we each have to pay $433 a month or would it be $866 ——— Details:
Fiancé and I are both 35 and self employed (in Texas). I’ve been self employed for 12 years (horse boarding and lesson business owner).I’ve had a marketplace plan for 2 years. He has been self employed for almost a year and paying cobra but has been shopping for coverage on the marketplace. The rates he’s seeing are significantly more than what I pay, so now I’m worried about what will happen to our health insurance costs if we get married. I have an autoimmune condition and at high risk for injuries due to my job. He has a couple of minor pre-existing conditions and moderate accident risks.
I was playing around on the marketplace website to get an approximate idea of the costs. I guesstimated our combined adjusted income at $60k. We have 4 kids (all have insurance through our ex spouses’ employers) and we would deduct 2 kids on our taxes.
Hi everybody.
I'm self employed with a lot of chronic health problems, and I'd like to be able to see specialists who will actually take an interest in me with low wait times etc. Right now I have insurance through the market place and it's just not good enough for what I need. How can I do this? I'm basically looking for something where I buy an insurance plan as an individual. What are the prices for these kinds of things?
Title. I live of my investments and am always confused about what is the technically correct info to enter when someone asks about job details. Self employed is correct I presume but what if more details are asked ?
Sidenote: I mentioned it in comments but can't get married because folks thinks I am unemployed despite having income in top .1 % easily solely from investing.
Make sure you go back in to the PUA/IDES specific website to certify for your weekly benefits. There is a form that needs to be filled out for each week of unemployment. I finally received my benefits this morning, predating back to mid March!!!
Hello, I am applying for my uk spouse visa but we kind of stuck with one point.
My husband is registered with HMRC as a self-employed sole trader person, he doesn't have a company or a business instead, he works as a self employed person with a security company in the UK for couple of days a week
now when we are choosing that he is working a sole trader on the application form it asks us what is his business company name and contact details
should that be the company he is self employed for? because he doesn't have one or now they consider him and an employed and not self employed??
there is another option (director or employee for a limited company based in the UK)
do we come under this or not?
Thank you
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I live near Vancouver. My rent is pretty high. About $2400/month including utilities.
My girlfriend who helps pay the rent is out of work indefinitely. She will qualify for EI, but that won't come close to covering our rent, let alone food.
I've had cancellations coming in for the last week, and more work is drying up by the day. I don't know what to do. I was looking to hire two weeks ago. Not so much now.
We have enough saved to get us through maybe 2-3 months without working, so we're not desperate yet. This is keeping me calm right now, but the future does not look good. Our landlord will not allow late rent payments, even if his mortgage payments are halted.
I've never felt so out in the cold as a self employed person. I've heard rumours that the self employed may be able to qualify for EI through this, but there's been nothing solid announced on this so far.
How many people are going to make money off this disaster while others are struggling to survive? Seems these programs help the single guys and the big guys
Hi! I apologize in advance for having zero knowledge about filing taxes. So for my situation I stream on twitch and have a tiny online store (Depop). I’ve researched that if I made $400 that means I would have to file taxes. Which I did make $400 (Twitch and Depop combined). My question is does this $400 mean for a month or for a year? If a month then how would I claim it on my taxes? Thank you in advance. Also, please let me know if I posted on the wrong place and I apologize for my format for I am on a mobile device.
I became self employed in april this year and i'm not sure weather i need to file a self assessment because the tax year is stated under 19/20, does this mean it's more for last year or will i still need to file for whatever i made in 2020? Just a little confused.
Asking for a friend. Will they just be left to survive with any savings they have?
I'm at a crossroads between pursuing a self employed career or the medical field. Both have pros and cons, except one is more "me" than the other but the other one offers more immediate stability in terms of benefits. I'm also thinking about going into the military, get out after 4-6 years so I will have those nice benefits that veterans get. Also thinking about the trades but not sure... There's also the option of going part time with my hypothetical business and working a job with benefits, but I think that will be too much...
One thing that scares me about going the stone cold self employed route is that there's no health insurance... Seems like you could be enjoying your life for awhile and then all of a sudden an expensive illness like cancer cripples you.... how does that work? anyone been there?
Suppose a self-employed person did regular services for a company without a contract defining their relationship. What kind of notice would the self-employed person need to give, if any, if he wanted to stop working with this company?
Hello,
Suppose I've been doing freelance work as an assistant, but worked for enough different people that I never hit $600 with a single person and never got a 1099.
When I report that self employment income on my taxes, do I just write type of service and my own name, and total income summed across all those different gigs?
Or will I need to actually mention any of my employer's names on any of the forms?
Thank you!
Exactly. So why don't they let us have 80% of our under-reported earnings?
This is causing aggravation in so many households...
I have seen multiple places in the news that the stimulus deal included funds to expand unemployment benefits to contract workers and the self-employed. My husband is a commercial real estate broker that works on a commission basis. He works with a commercial real estate firm that gets a split of the commission, and he is issued a 1099-misc for his total commissions every year. Since all his clients are retail and restaurant, obviously his work has disappeared and he has no income for the foreseeable future. He is looking into filing for unemployment under this new bill, but the system doesn’t seem to be set up for this new system. For example, he doesn’t want to be denied just because he puts the wrong answer for “last day of employment”. As a self-employed person I guess technically he is still employed, but his income is completely eliminated due to the economic repercussions of COVID 19. Am I understanding this correctly, that he should be eligible? Is anyone else in the same boat and how are you handling if so?
