r/selfemployed

I've had this little business for about 3.5 years and made over 30k. I'm the only employee. Sometimes it's the only work I do and other times I take on some part-time or seasonal work.

Obviously 30k in 3.5 years is not enough to live in this world but I absolutely love this business. I like the work I do and wish it could be my full-time income.

I've thought about expanding my business with other services but nothing has really taken off and the math isn't mathing and I'm definitely not going to get rich from this.

I don't want to give up on this work but I also hate the financial struggle.

Is this when I need to pivot to another type of business?
I've had other self-employment work before like freelance work and haven't struck gold with something I love that also offers me adequate income I don't have to take on employment with an established company.

My fellow LOs and brokers.
Lets brag about which is the exception or toughest loan you handled recently which the traditional bank or credit union declined.
How did you help that business owner get a higher loan or that self employed borrower qualified?

Fellow borrowers who got helped by brokers in such scenarios can reply as well as a token of appreciation and good karma points :)

Hi,

I'm new to self-employment as a tutor.

I travel to two locations to teach at the moment.

Just wanted to ask what I can put down as expenses?

It’s expensive, the OS changes every time I login, they are pushing a bunch of AI features that I don’t want, and I’m losing money to bank transfer fees constantly. What accounting software are you using that’s affordable and simple? Sole proprietor who does most of my own accounting. Thanks!

For those doing side gigs / self-employed work in the UK do you actually end up paying much tax on your earnings?

For example, if you make around £10,000–£15,000 a year from delivery work or another side income, how much tax do you normally end up paying after claiming legitimate business expenses?

Are there legal ways to reduce the taxable profit significantly through mileage, fuel, insurance, phone costs, vehicle expenses, equipment, etc.?

Just trying to understand how people manage their tax efficiently and legally rather than losing a big chunk of their hard-earned side income.

Without getting deeply into it, would you, or do you know of anyone who'd pay an independent consultant to review their denied STD/LTD claims?

Essentially, I've spent +10yrs adjudicating disability claims from the insurers side, and now id like to use that knowledge to help claimants UNDERSTAND & RESPOND to denied or terminated disability claims.

Im not a lawyer, so "legal advice" cannot be provided. My services would consist of- interpreting the denial to the claimant, reviewing policies, reviewing the denial against medical documentation, and putting a plan together for the claimant to appeal the decision.

This idea literally was just a thought in the back of my mind for many years but I haven't put any of it in play so I wouldnt even know what this type of service would charge...definitely not lawyer rates considering these claimants haven't been paid by the insurer.

Do you think there's a market for this and if its profitable?

Thanks for reading!

I understand most of the basic differences btw W-2 and 1099, just wanted to ask yall if there were any important questions contract or tax wise I should ask this guy im meeting with tomorrow before I start working. It’s a cleaning job if that’s relevant. Please and thank you!