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Tag Archives: self employment pros and cons

Don’t Forget the Financial Costs of Working from Home

Don't forget about the financial costs of working from home

  Having a job where you can be your own boss, work the hours you want, stay home, work in your pj’s (if you want to), etc., sounds like to a dream job to lots of people. Who wouldn’t love to escape the commute to and from work? No more being stuck in a bus or train beside someone who’s sick and coughing all over you. No more traffic or weather to fight each day, costing you precious hours and minutes you could be doing something else. Working from home may sound like a dream job, and in many cases, it is. But there are downsides to working from home too. One of which is the financial costs of working from home when you are self employed. Before you consider leaving your current job to go it alone, make sure you weigh the financial costs of working from home. Taxes It’s easy to forget about paying Uncle Sam his share of your earnings when everything comes off the top and is calculated for you by your employer before you get your take home pay each pay period. However, it’s not as easy to forget when you have to calculate and ...

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