Business Management
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The terms gross income and net income can be easily confused. Per definition, gross income is the total amount you earn, and net income is actual business profit after expenses and allowable deductions are taken out. However, because gross income is used to calculate net income, it’s important to understand how each is calculated. When…
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Outsourcing projects to independent contractors can be a great way to achieve goals. Today’s work environment is in flux. It can be hard to meet business expectations with a workforce of full-time employees alone. Independent contractors are skilled experts in many different fields. This group of workers can help provide the workforce flexibility and project-based…
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The year-end holiday season is upon us! From now through New Year’s Day, many of us will juggle additional activities. School events, family visits, and social commitments get added to our usual workload and home responsibilities. For some, stress levels increase as to-do lists get longer and time gets shorter. An added stressor for independent…
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As an independent professional, you will spend part (or, in some cases, all) of your career as a solopreneur. With a high degree of flexibility, autonomy, and control, being your own boss has a lot of advantages. The choice to go solo does have challenges. Respondents to our 2023 State of Independence survey cited unpredictable…
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Becoming a freelancer for big companies comes with many benefits. Higher-value contracts, bigger budgets, and the opportunity to gain credibility with a recognizable name—just to name a few. However, to be attractive to larger organizations, freelancers and independent professionals must first ensure they have a reliable, trustworthy business in place. Follow these 12 tips to…
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S Corporation business structure advantages and disadvantages.
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Whether you’re just starting your small business or you’re a seasoned veteran, you’ll quickly learn that there’s a lot of planning involved. Initially, this planning will focus on choosing the services you will offer, finding and securing clients, and deciding where and how you will run your business. These are all important first steps and…
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Make sure your small business operates legally with all of the required licenses and permits.
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In the majority of traditional jobs, managers have the final word when it comes to making important business decisions and there are always coworkers to bounce ideas off of or ask for opinions. Independent professionals, on the other hand, are relatively on their own when it comes to making choices that will affect their business….
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For many independent professionals, work can be tinged with uncertainty. The top two challenges reported by respondents to our 2022 State of Independence survey were not enough predictable income and concerns about the sales pipeline, and a big part of operating an independent services business is addressing them. In addition to these challenges, many independents…
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