Posts Tagged ‘independent contractor’

 

Why is the distinction between being an Independent Contractor and an employee so important?

Employees have a special legal status. Employers owe duties and responsibilities toward employees that do not exist when they hire Independent Contractors.

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What is an independent contractor?

An employer must generally withhold income taxes, withhold and pay social security and Medicare taxes, and pay unemployment taxes on wages paid to an employee. In any employee-independent contractor determination, all information that provides evidence of the degree of control and the degree of independence

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What are the benefits of being an independent contractor?

Many Independent Contractors report that the increased freedom they enjoy is the greatest benefit of being an Independent Contractor. As an independent contractor, you are your own boss and you are likely paid more than employees.

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What are the drawbacks of being an Independent Contractor?

As an Independent Contractor, if you are not actively engaged in billable work, then you are not getting paid. On top of that, Independent Contractors are exposed to added risks and costs based on their status.

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How do I set my fees? And how do I make sure I get paid?

Clients normally buy services based upon value, not price so you should bill accordingly.

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What should I remember to remain successful as an independent contractor?

As an independent contractor, always focus on the customer and provide services as a professional.

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How do I get started and get exposure to independent contracting?

If you wait for potential clients to contact you—or rely strictly upon an existing network of contacts you developed as a full-time employee--then you will eventually fail as an independent contractor. To make it as an independent contractor, you must initiate contact with potential clients

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What kind of person makes a successful independent contractor?

Every independent contractor we have ever known has had certain personal and attitudinal characteristics in common with other successful contractors. We've seen some otherwise well-qualified people fail miserably as independent contractors simply because they lack those characteristics. As an independent contractor, clients are not buying

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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.

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