Being self-employed means that you run your own business and are responsible for generating your own income. You are not an employee of a company and do not receive a regular salary or benefits from a single employer. Instead, you work for yourself and take on clients or projects to earn money.
As a self-employed individual, you have control over the type of work you do, your schedule, and your rates. You are also responsible for managing your finances, including paying your own taxes and providing for your own health insurance and retirement savings.
While being self-employed offers greater flexibility and independence, it also comes with a greater level of risk and the need to be highly motivated and organized to succeed.
See also: Schedule SE, Schedule C Form, Solo 401K, SEP IRA