Contracts and Finance

4 Tips and Tools for Keeping Track of Your Expenses as an Independent Contractor

February 26, 2019

If you’ve been an independent contractor for more than a year, you know how fun it can be to gather up your expenses come tax time. This is definitely one of those times where an ounce of prevention is worth a pound of remedy. That’s why we’ve come up with four tips to help you…

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7 Ways To Cut Expenses

January 4, 2019

There’s never a bad time to check your spending and reassess your expenses. While any business budget can benefit from a little belt-tightening, as an independent contractor you deal with smaller profit margins than large companies. That means the need to keep expenses to a minimum is more pressing. We’ve assembled a list of 7…

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How To Give Back on a Budget as an Independent Contractor

December 14, 2018

Even as a business of one, philanthropy can be an important part of your brand. 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. However, as…

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How to Bill a Client

October 12, 2018

10 simple steps to billing a client to ensure you get paid on time.

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Section 199A Qualified Business Income Deduction: What Tax Reform Means for Small Businesses

September 4, 2018

In late 2017, the President signed into law the Tax Cuts and Jobs Act, the biggest overhaul of the U.S. tax code in more than 30 years.  One of the major changes in the law is, as described below, a deduction for certain “qualified business income.” In early August, the IRS issued proposed regulations, providing some…

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Top Self-Employed Tax Deductions

July 25, 2018

Properly managing business expenses is not just good business, it’s also a good income strategy for an independent contractor. As a business-of-one, you will likely incur fixed costs that can’t be billed back to a client. You may also need to take care of expenses such as health care and retirement. Each of these fixed or variable costs…

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How to Write a Scope of Work (SOW)

July 17, 2018

Being tasked with writing and delivering a Scope of Work (SOW) can at first seem like a daunting task. However, once you understand what goes into the various parts of the document, it becomes much more manageable and can be a useful tool to help you get organized before a project begins. A SOW is helpful to…

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Do I Need a Scope of Work (SOW) for a Consulting Project?

June 19, 2018

What is a SOW? A Scope of Work (SOW) is a document that defines how a project will be executed through specific tasks, activities, deliverables, and timelines. It also provides important legal protections for both you and your client. While many people associate SOWs with large-company projects, they are equally important for small businesses. In…

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How Do I Negotiate a Contract as an Independent Consultant?

June 1, 2018

In any business agreement, it is highly recommended to use a well-written contract. Contracts provide clarity, establish a relationship, and offer protection to all parties involved. For these reasons, many independent professionals wisely insist on using written contracts for every client project. In some cases, you may use your own contract, but clients will generally…

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How to Save Money by Going Green

May 3, 2018

It’s an unfortunate truth that many environmentally friendly products and services cost more than their less-green counterparts. But going green doesn’t always mean you have to spend more. In fact, independent contractors can actually save a surprising amount of money by adopting a green attitude towards daily business tasks. We’ve compiled a list of five quick…

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