Contracts and Finance

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How To Give Back on a Budget when You’re Self Employed

November 17, 2020

Philanthropy can be an important part of your brand, even if you’re a business of one. Not only is charitable giving a great way to give back to your community and support a good cause, but it can also help to build connections with existing and potential customers, differentiate your business, and gain positive publicity. But…

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What is Gross Pay vs. Net Pay and How to Calculate

November 12, 2020

As an independent professional it’s important to understand key financial terms. There will be a financial component to every part of your job, from the beginning of a project when you are negotiating with a client about your rates and writing a contract, to the end of a project when you are invoicing a client…

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What is Net Salary: Definition and How to Calculate

November 5, 2020

If you’re considering starting a small business, you are probably encountering many new financial terms as you begin to set your bill rate and put systems in place for tracking your time, and collecting invoices. Understanding these terms and numbers are an important part in determining the sustainability and success of your business. They can…

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Which bill rate is right for you?

3 Ways to Calculate Your Billing Rate for Consulting Services

September 24, 2020

Calculate your billing rate and find tips to help you evaluate and maintain your consultant salary.

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Consulting Proposal Template and Guide

September 8, 2020

Starting a new business or landing a new client often begins with writing a proposal. Mastering the details of how and when to deliver a proposal to a potential client will help you win new business, find and retain clients, and become an expert in showcasing your skills and abilities. What is a Proposal? A proposal…

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Tax Implications of Becoming an Independent Contractor: What You Need to Know

August 12, 2020

If you’re ready to take the leap and start your career as an independent professional, there are a few key steps to take to build a successful business. Understanding the tax implications of becoming an independent contractor is an important part of your financial preparation. While your employer was required to withhold federal income, Social…

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3 Consulting Agreement Templates and Contracts Guide

July 27, 2020

Learn how to write and negotiate the right independent consulting agreement. Learn the key ingredients of a contract, different types of contracts, and mistakes to avoid.

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When and How Independent Professionals Should Offer Discounts

July 2, 2020

If you’re looking for a way to boost your business, you may have considered offering a discount on your services. After all, what’s more enticing to customers than a good sale?  But when it comes down to it, is discounting really a smart way to bring in more clients? Unfortunately, unless you are a large,…

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Setting a Budget for Small Busines: Saving vs Spending

June 29, 2020

As you pursue your career as an independent professional, you’ll quickly discover that your success is tied to the business decisions you make. What you choose to do with your money is an important part of that challenge. Which purchases are smart investments? Which are simply a waste of money? Here are three areas where…

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Gross vs Net Income: Definitions and How to Calculate

June 10, 2020

What is the difference between gross income and net income? Gross income is the total amount you earn and net income is your actual business profit after expenses and allowable deductions are taken out. However, because gross income is used to calculate net income, these terms are easy to confuse. When you run your own…

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