Re:The Challenges of Being in the New Contract Workforce
by seangrogg on Tuesday January 23, 2018 @05:23PM
(#16218398)
Very interesting. Thanks for being candid with your freshness to this experience; it's valuable all the same. A few more questions, as your availability permits:
* Have you considered an S-corp? If so, reasons against listing it as an option?
* Any recommendations in general contractors (even if not specific ones, just things to look for in a general contractor)?
Thanks for your time and response(s)!
Re:The Challenges of Being in the New Contract Workforce
by acconrad on Wednesday January 24, 2018 @01:27AM
(#16220785)
* I haven't considered it, I just do what my accountant advises
* A general contractor? I hear that term I think of those guys who work on your house. Could you be more specific?
Re:The Challenges of Being in the New Contract Workforce
by seangrogg on Wednesday January 24, 2018 @12:55PM
(#16224707)
* fair enough
* I guess I just lifted the term as it seemed appropriate; given you mentioned subcontracting I imagine there is an entity above you that does the direct contracting - any recommendations for what to look for in that contracting authority?
* I'm remote currently with high utilization client (as a subcontractor) and smaller retainer clients.
* I am a firm of 1.
* I have an accountant to manage taxes and finances. I keep meticulous records of what is a business vs a personal expense. The subcontractor gig is insured by the main contracting company. The retainer gigs stipulate it is knowledge/access only, so without any IP deliverables required, so there's no need for insurance on that. I may get insurance if my employment situation changes in terms of the contracts I take on. For this, I'd talk with your lawyer.
* I would just buy health insurance through the state. I live in MA, so we have to have something. We're both young and healthy, and she has an incredibly stable job, so I don't worry about this one too much.
I should point out that I'm very new to this (4 months in) so definitely don't look at me as a source of having "done things right" - I am learning every day and still sweating it all.