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Contracts and Finance

Make the Most of your Transportation Tax Deduction in 2020

November 11, 2019

Beyond the daily hustle and bustle of grocery store trips and errand runs, many independent consultants depend on their car as a means to get from project to project, or client to client. When the family van becomes the corporate car, it’s time to take advantage of deductions for business-related mileage. Here’s what you need…

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How to Write and Negotiate a Consultant Contract

November 8, 2019

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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How to Determine Your Consulting Fees & Rates: 3 Steps

November 7, 2019

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

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SOW (Scope of Work): 6 Key Elements to Include in a Project SOW

October 9, 2019

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…

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How to Avoid a Tax Audit as a Self-Employed Professional

September 12, 2019

Independent professionals have additional tax responsibilities above and beyond those of conventional employees. With extra forms and numerous potential deductions, it can be easy to overlook small details or miscalculate. While there’s no way to completely protect yourself from the dreaded tax audit, you can reduce your odds of being singled out by eliminating poor…

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How to Write an Effective Scope of Work (SOW) for Consulting Services

September 11, 2019

Learn the critical components to creating a Scope of Work (SOW) document to properly plan and manage your projects.

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Top 2 Challenges Independent Consultants Face

August 16, 2019

Working as an independent consultant and being your own boss offer a number of benefits including setting your own hours, determining your specialties, and choosing your clients. However, independent consulting is not without its challenges. In MBO’s State of Independence report, we surveyed independent consultants to learn about their experiences, goals, and difficulties. Here, we…

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Why You Need a Scope of Work (SOW): What It Is and How to Create One

August 5, 2019

What is a Scope of Work? Before starting a new project, independent professionals are often asked to prepare a Scope of Work (SOW) document that outlines the terms of their project and details items like payment terms, roles and responsibilities, and a timeline for work. This is a straightforward document, but if you’re compiling one for the first…

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How to Negotiate a Consultant Contract

August 2, 2019

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 Write an Independent Contractor Agreement: 7 Terms to Include

May 24, 2019

Contracts are a must in any business relationship, but they’re particularly important for independent contractors to provide: legal protection, establish roles and responsibilities, and outline services to be performed The content of your contract should provide as much protection as possible, while also clearly establishing expectations of both parties. The exact language and sections included in…

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