Independent Contracting – Common Questions

Independent Contracting – Common Questions

An independent contractor is an individual, business or corporation that provides services to another entity under terms specified in a contract.

Unlike an employee, an independent contractor does not work regular hours for the client but instead provides services as required.

Independent contractors are typically collect fees as opposed to wages.

As a matter of convention, independent contractors set their own schedule, number of hours worked and manner in which the contract engagement is serviced.

The Basics:

Q1: “What is an independent contractor?
Q2: “Why is the distinction between being an independent contractor and an employee so important?
Q3: “What are the benefits of being an independent contractor?
Q4: “What are the drawbacks of being an Independent Contractor?

Questions and answers adapted from Wage Slave No More: Law & Taxes for the Self-Employed, by Stephen Fishman.

Becoming Successful:

Q5: “What kind of person makes a successful independent contractor?
Q6: “How do I get started and get exposure?
Q7: “What should I remember to remain successful as an independent contractor?
Q8: “How do I set my fees? And how do I make sure I get paid?

Questions and answers adapted from On Your Own: How to Escape the Corporation and Make More Money as an Independent Contractor, by Carol Lewis and Harry Helms.

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