Contracts and Finance

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 and Invoice Clients: 10 Best Practices

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 9 Self-Employed Tax Deductions You May Be Overlooking

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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SOW (Scope of Work): 6 Key Elements to Include in a Project 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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SOW (Scope of Work) for Consulting Services: What it is and why you need one

June 19, 2018

What is an SOW (Scope of Work)? 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…

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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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3 Things Independent Contractors Need to Know about Tax Reform

April 17, 2018

</ifram The U.S. Tax Cuts and Jobs Act, passed at the end of 2017, is the biggest overhaul of the U.S. tax code in more than 20 years. If you’re currently working as an independent professional, here are three things you should know about the new law. 1. Section 199A Section 199A is a new…

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How to File Taxes as an Independent Contractor: 4 Best Practices to Follow

April 13, 2018

Taxes can be a tricky road to navigate for self-employed professionals. Employers are required to withhold federal income tax as well as Social Security and Medicare taxes from employee’s payroll checks, but as an independent professional you’re on the hook to do this yourself. IRS Schedule C (Form 1040), Profit or Loss From Business, is…

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How to Write a Request for Proposal (RFP)

March 30, 2018

As an independent professional, prospective clients will often ask you for a proposal or a Request for Proposal (RFP)—a more formal document where you propose a solution to the client’s problem or business need. RFPs will also include information about your business such as details about your services, methodology, and estimated costs. Proposals are a great…

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