Freelancing

What is professional indemnity insurance?

business insurance and chart

  SCMS (Skillbase Contractor Management Services Ltd) offers an overview of professional indemnity insurance (sometimes called professional liability insurance or errors and omissions insurance). Independent contractors should carry professional liability insurance for several reasons: it shows that they are truly an independent business and it protects their assets and their clients in the event of a…

U.S. Contractor Abroad Tax Guide

From Taxes for Expats, Ines Zemelman has created a guide for contractors working abroad.  They provide helpful adivce such as the following: 1.   CAN CONTRACTORS UTILIZE THE FOREIGN EARNED INCOME EXCLUSION (FEIE) TO EXCLUDE UP TO $100K OF INCOME? Yes – contractors can certainly qualify for the Foreign Earned Income Exclusion (FEIE). However, in general, the nature…

Managing Remote Workers Requires New Communication Strategies

by David Mizne, from 15Five.com Remote workers have become a regular fixture of the business world. Whether someone works part of a day or week at home or full-time outside the office, the concept is no longer rare. Flexible scheduling has taken a premium spot among benefits that employees seek. While the upside to remote…

6 Best Practices for Drafting an Independent Contractor Agreement

  MBO Partners offers terrific recommendations for drafting agreements with independent contractors. In particular, it is critical to specify the terms relating to product ownership and warranties. 5. Specify Product Ownership As an independent contractor, it’s important to understand your intellectual property rights. Keep an eye out for non-compete clauses, which may prohibit you from starting…

How to Choose the Right Business Structure for Your Independent Business

  MBO Partners provides excellent guidance to independent contractors on selecting the right business structure.  They write: The following four structures are discussed with the following assumptions: Your business has one owner with no additional shareholders You are the provider of professional services and not products You do not require investors You wish to keep…

Uber Taxes: Your Step-by-Step Guide to Uber Tax Filings

Uber X from the backseat

  by Pat We can all agree that tax season can be stressful. Compiling all of your annual earnings, sending money to the IRS, and spending months wondering whether you filed everything correctly is enough to make your head spin. Tax filings are even more stressful for Uber drivers. As a rideshare driver, you’re employed…

Bill would extend Title VII to protect gig workers

Discrimination_word_cloud

  From HR Dive, Valerie Bolden-Barret reports that House Representative Eleanor Norton Holmes (D-DC) announced a bill that would protect independent contractors, freelancers and gig workers from discrimination under Title VII of the 1964 Civil Rights Act. See Bill would extend Title VII to protect gig workers The Representative’s press release states: WASHINGTON, D.C.—Congresswoman Eleanor Holmes Norton (D-DC), the…

Freelance Or Small Business?

Woman and small business

From Finances Wire, Filiyana McGraves discusses the differences between being self-employed and registering as a small business and shares some of the benefits of being a small business.  Filiyana writes: Unfortunately, your status as self-employed or freelance might be hindering your progress in the business world. For a start, there are many large companies that would…