Browsing Tag
independent contractor
9 posts
4 Ways Startups Can Save Money During the Pandemic
Amid the COVID-19 pandemic, many startups have successfully pivoted their business models to accommodate customers and keep their doors open. These same businesses are also keeping a watchful eye on their expenses and finding new ways to save money. Saving money during the pandemic ensures more than the company’s survival. It also keeps employees from...
Dodge These 5 Common Tax Mistakes Entrepreneurs Make
Starting and running a business requires precise attention to detail—especially when it comes time to file your business taxes. Whether you head a startup with a few employees or you’re an independent contractor, taxes are a common pain point for entrepreneurs. Tax law is complex, and penalties for filing mistakes can affect a business’s bottom...
Navigating Self-Employment Taxes and Income
There are many differences between being self-employed and working for someone else. However, the taxes you owe the federal government aren’t one of them. If you’re self-employed, you’ll still pay the same income tax as those who earn a living in the form of a paycheck or wage paid by an employer. You’ll still owe...
Do I Need Workers’ Compensation Insurance If I’m Self-Employed?
Workers' compensation insurance: the three words that give many employers a sudden anxiety attack. There are plenty of things to worry about beyond just the costly nature of this mandatory insurance coverage, including compliance, audits, independent contractors, claims management, safety committees, and the list goes on. The question arises, what about those business owners who chose...
How to Classify Your Employees Right from the Start
Herd mentality is almost never a good thing. As social creatures, perhaps it’s only human to want to be included and be part of something bigger. When applied to business, the herd mentality often leads to less stellar decisions, against better judgment, because “everyone else is doing it,” so why not? For many startups, the...
Managing Taxes in the Gig Economy
The gig economy can be a wonderful way to supplement your income while you’re building a new business. One of the benefits of Uber, Lyft, Shipt, Instacart, Doordash, Postmates or the host of other independent contract platforms is that you can decide if and when you work. As an entrepreneur balancing a demanding schedule, the ability to set your...
6 Things Gig Economy Workers Should Do to Protect Themselves Financially
The gig economy has changed the way nearly 70 million Americans define work. But as a gig economy worker, you’re left to your own devices when it comes to finances. So what should you do? 1. Understand your taxes Gig workers are classified as self-employed independent contractors. That means everything you earn (even if it’s...
Starting Up: Which Type of Business is Best for You?
Despite what you might see in the news, entrepreneurs aren’t just software developers, hip millennials and venture capitalists. Entrepreneurs are neighbors, parents, activists, dreamers and all sorts of people willing to burn the midnight oil to create a business from nothing. And because entrepreneurs are so varied, entrepreneurship is, too. This quick guide will help...
Top 5 Qualities to Look for When Hiring a Freelancer
As an entrepreneur, you eventually get to the point where you need an extra pair of hands. It would be great to hire someone to help out with phone calls, emails or even redesigning your website. The problem is, you can’t afford to hire someone on full-time. That’s why many entrepreneurs hire freelancers. It is...