Practical Tips for Self-Employed Consultants and Solopreneurs
Advice and Insight
Sometimes, no matter how many times you remind a client to pay you, they still don’t send the money. Your client might give all sorts of excuses, or worse, they stop replying to you at all.
Whether it’s $5,000 or $500,000, it’s still worth taking the time to get the money you deserve, and you may not even need to hire a lawyer or collections agent. Based on personal experience, here are some things you can do on your own.*
Read MoreOne of the benefits of being self-employed is paying less tax than you would if you were paid like an employee on a W-2 tax basis. If you’re smart, you’re getting paid on 1099 tax basis, deducting your business expenses, and contributing to your own retirement plan to lower your tax bill. (This two-minute video explains how this works.)
But California’s new law, AB5, is making it harder to qualify as an independent contractor and get paid on a 1099 tax basis. Even if you don’t work in California but do business with a national corporation, you’ll likely have to follow these new rules because …
Read MoreIt was bound to happen. After 15 years and hundreds of contracts, I finally had a client that didn’t pay, and didn’t pay, and didn’t pay. For six months there was one lame update after another. “We’re working on it,” or “We’ve switched to a new process.”
Yesterday, my bank finally received the wire transfer. Here’s my story, what I learned along the way, and steps you can take if you find yourself in the same situation.
Read MoreAbout two months ago, the California Supreme Court issued a unanimous decision in the case Dynamex Operations West Inc. v. Superior Court that is likely to result in it being harder to qualify as an independent contractor.
More than ever, it’s critical that you take steps now to maximum your chances of passing what is likely to become a stricter vendor compliance process. Otherwise, it’s very likely that companies will demand that you do the work as a W-2 employee hired through a staffing agency. (Related video, “Friends Don’t Let Friends W-2”*)
Although this court decision directly affects only California companies, other states are likely to follow suit and use this ruling as a reference. At the very least, it’s likely to make employers in other States more cautious when hiring consultants as independent contractors.
Read MoreLast August I wrote a blog post about how labels matter, specifically that you should make more money by calling yourself a consultant instead of a contractor. But it’s not just about labels and language. It’s not enough to simply replace contractor with consultant on your résumé and LinkedIn profile.
I’ve been studying the LinkedIn profiles of various contractors and consultants I know and reflecting on how they usually get their work. What differentiates the well-paid rock stars of consulting from the plug-n-play contractors? Several variables affect the person’s brand. They include prior work experience (internal with a company vs an external consultant with a firm), their consulting niche, and how they market themselves, but the real difference is how they find and frame their work.
Contractors find work through agencies or staffing firms while consultants are more likely to find work on their own, usually as a result of their professional network.
Read MoreWith the rise of the free agent nation and gig economy, there’s rampant confusion around the terms contractor, consultant, and independent contractor. If you are a self-employed consultant, you don’t want to be a contractor but do want to be an independent contractor. This article explains why.
Read MorePractical tips and advice for solopreneurs such as independent consultants, executive coaches, and financial planners. #SolopreneurSuccess
This is where we post our latest content on how to be your best as a self-employed consultant. Nearly all articles are written by PICA’s Chief Advocate, Liz Steblay, based on her 25 years in consulting, including 20 as a solopreneur.
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