Can you make money working from home?

Staff

4 Min Quiz

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About This Quiz

You want to start your own home business, but how much do you really know about working for yourself? Test your knowledge about working from home with this quiz.

How many Americans work from home?

According to the U.S. Census Bureau, nearly 6 million Americans share the same home and work address. Working from home definitely makes for an easy commute!

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The IRS will come calling for you to pay taxes if your home-based business earns more than:

If your home business earns more than $400 per year, you'll have to pay self-employment taxes to the IRS on top of your income taxes.

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Self-employment tax covers which of these payments?

Because you don't work for an employer who would ordinarily deduct Social Security and Medicare, you'll have to cover these costs yourself through self-employment taxes.

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How much does the typical homeowner's insurance policy cover for home business-related claims?

If you're relying on your homeowners' insurance policy to cover any business-related mishaps, you may be in trouble. Most of these policies only cover $2,500 for incidents that occur in your home office. For greater coverage, you can get an endorsement to increase your homeowners' insurance coverage or invest in an in-home business policy.

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Which of these companies started as a home-based business?

In 1976, Steve Jobs and Steve Wozniak founded Apple Computer as a home-based business. (Michael Dell started his company from his dorm room at the University of Texas at Austin.) Jobs eventually turned Apple into a multi-billion-dollar enterprise.

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If you run a business that isn't incorporated, then you're known as a:

A sole proprietor is the owner of a business that has not officially incorporated. Many freelancers and independent contractors are sole proprietors.

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If you're the only owner of your home-based business, for tax purposes you can call that business:

When you're the sole proprietor, your business name is always your full legal name. If you want to create a new name for your business, then you have to file a "fictitious name" form with the government.

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A personal shopper is also known as a(n):

An image consultant is a professional who helps clients look their best. Image consultants can help with everything from wardrobe, to hairstyle and makeup.

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The average freelance writer can earn how much money per hour?

According to the Bureau of Labor Statistics, freelance writers can earn nearly $50 an hour or more, based on their experience and the type of project. That works out to an annual six-figure salary. Pay rates can vary widely, however.

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A public relations freelancer who works for the government might be called a:

A press secretary works for a government office. He or she is responsible for keeping the media and the general public up-to-date on any new developments with government agencies and officials.

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What percentage of interpreters and translators are self-employed?

Just over one-quarter of all interpreters and translators work for themselves, often from home. Some translate on the side, while others make it their full-time job.

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Which of these jobs is likeliest to be a work-from-home scam?

According to the Federal Trade Commission, many advertised medical billing jobs are nothing more than scams. Once you pay for the tools you need to start your own medical billing business, you'll often find that the jobs are nonexistent.

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If you sell your homemade jewelry on Etsy, how much will the company take off the final price?

Etsy takes 3.5 percent of your item's price once it sells, on top of a 20-cent listing fee.

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When shipping products you sell on eBay, which service offers eBay branded packaging?

The U.S. Postal Service has boxes labeled specifically for eBay, which they offer free to their sellers. Plus, they deliver the boxes right to your door.

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How many Americans are involved in direct sales for companies like Mary Kay and Amway?

According to the Direct Selling Association, an estimated 15 million people in the U.S. sell clothing, makeup, jewelry or other products from home. Most of them are women who sell part-time.

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Who was the very first Avon lady?

David H. McConnell founded Avon in 1886, when it was rare for women to own their own businesses. His company, then known as The California Perfume Company, hired as its very first sales representative Mrs. P.F.E. Albee of New Hampshire. The rest, as they say, is history.

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What was the very first product Amway business owners sold?

The very first environmentally cleaning product, Liquid Organic Cleaner helped launch the modern Amway brand in 1959. Since then, the company has added a wide range of products for the body and home, all sold by independent business owners.

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In which of these professions are people most likely to work from home?

More people work at home in jobs like design, writing, and media than in any other type of job, according to the Bureau of Labor Statistics.

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For every real work-at-home job found on the Internet, how many fake ones are there?

According to the Web site Rat Race Rebellion, there are 57 phony jobs for every real one advertised on the Internet. Their finding underscores the need to approach any online job offer with great caution.

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If every American worked from home instead of commuting to an office, how many gallons of gas could this country save annually?

Working from home isn't just convenient--it saves money. The Working from Home Council estimates that if we all did our jobs from a home office, we'd save 36.9 billion commute hours and 60.5 billion gallons of gasoline. That's a lot of gas!

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