Five difference between self and salaried employed?

1. Income structure: A self-employed individual typically earns income based on the profits generated by their business or freelance work. They have control over setting their rates and determining how much they earn. In contrast, a salaried employee receives a fixed amount of money on a regular basis, regardless of the company's profits or their individual performance.

2. Tax obligations: Self-employed individuals are responsible for managing their own taxes, including filing self-employment taxes and making estimated tax payments. Salaried employees, on the other hand, have their taxes withheld by their employer, making the process more straightforward.

3. Benefits and perks: Salaried employees often receive benefits such as health insurance, retirement plans, paid time off, and other perks provided by their employer. Self-employed individuals need to arrange and pay for these benefits themselves, which can be more costly and require more effort.

4. Control and flexibility: Self-employed individuals have more control over their work schedule, clients, and projects. They can choose when and where to work, and have the freedom to make decisions regarding their business. Salaried employees typically have less control and flexibility, as they are bound by the policies and schedules set by their employer.

5. Job security: Salaried employees generally have more job security, as they have a contract or agreement with their employer that provides stability and protection against sudden termination. Self-employed individuals, on the other hand, may experience more uncertainty and risk, as their income and business success depend on market conditions and client demand.