17
22
Entrepreneurship: A Business of
Your Own 442
The Importance of Small
Business 444
Opportunities for
Entrepreneurs 444
Advantages of Entrepreneurship 445
Disadvantages of Entrepreneurship 445
Types of Business Ventures 445
Planning Your Own Business 447
What Does It Take to Succeed? 448
Choosing a Business 450
Choosing a Location 451
Pricing Your Product or Service 453
Legal and Financial Issues 454
Choosing Your Business Structure 455
Zoning, Licensing, and Permits 456
Obtaining Financing 456
Financial Record Keeping 458
Professional Assistance 460
Case
Joseph’s Complete Editorial Services 460
Extend Your Knowledge
Keeping Records 458
Go Green 447
23
Understanding Income and
Taxes 466
Forms of Income 468
Wages 468
Salary 469
Commission 469
Piecework 469
Tips 470
Bonus 470
Profi t Sharing 471
Fringe Benefi ts 471
Understanding Your Paycheck 471
Taxes 474
Types of Taxes 474
Preparing Tax Returns 476
Filing Your First Tax Return 480
Social Security 484
Social Security Benefi ts 485
Medicare Benefi ts 488
Medicaid Benefi ts 489
Workers’ Compensation 489
Medical Care Benefi ts 490
Disability Income 490
Rehabilitation Benefi ts 490
Death Benefi ts 491
Unemployment Insurance 491
Case
Gary’s First Paycheck 485
Extend Your Knowledge
Methods for Filing Taxes 479
Ethics
Computer Ethics 480
24
Managing Spending 494
Budgeting Your Money 496
Establish Financial Goals 497
Estimate Your Monthly Income and
Expenses 497
Balance Your Budget 498
Keep Track of Income and Expenses 499
Evaluate the Budget 499
Managing Your Consumer
Spending 499
Be an Informed Consumer 500
Understand Advertising and Other
Promotional Methods 502
Part 6 Part 6
Managing Your Income Managing Your Income