Wouldn’t it be nice to be your own boss? You’d get to set your own hours, decide what work to take on and do only what you want to do. While you may be able to avoid someone else telling you what to do as a self-employed individual, you can’t avoid paying your taxes. In fact, self-employed individuals often have to pay more in taxes than someone who is a W-2 wage earner. This additional tax burden is called the self-employment tax.