[cicy33]

Insurance is exactly what you should be worried about. As others have said and I will add a few more here. My husband owns his own business. He installs siding and windows. Basic liability insurance is about $700 a year. We do some work that is just from us and some work that is contracted through companies, cuz well, income is nice! And since many companies he subs for require workers comp (even though we have no employees) that is another 700 a year. We are responsible for everything that breaks, goes wrong, and waiting for a check. When you work for someone else you get a guaranteed check every week or bi weekly, when you work for yourself, some companies pay 30 day net, some 45, and some even 60. So you have to keep going without money for those days. As said above, SE taxes will bite you in the butt. There are good aspects however, I don't want you to think that there isn't. You set your schedule. If you need time off you get it without a lot of grief. Everything from your cell phone to a portion of your home is a write off. But don't think that you are going to get rich doing this.