Finance
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Tracking and billing your time is one of the most important tasks you’ll take on as an independent contractor. Whatever billing method you choose, you’ll want to present a reputable, professional invoice to your clients. Follow these five tips to present a clean, professional invoice to your clients. 1. Set a Billing Policy Creating billing…
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There are a few different ways to get paid as a 1099 independent contractor, typically either by the project or by the hour as determined by your bill rate and the written contract with your client. 1. Hourly Payment Many independent contractors prefer an hourly bill rate. You never know where a project may end…
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Build business credit for your small business by following these three essential steps.
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In your business, there will be financial components 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 invoice a client, you need to have a clear understanding of financial language….
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Pay rate and bill rate are easily confused. They both factor into the decision of how much you should charge for your services as an independent contractor, consultant, freelancer, etc. When negotiating with a client at the start of a consulting project, make sure you are clear on your rates, and if you are discussing…
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Knowing how to calculate your net salary is important when it comes to managing finances as an independent contractor. 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…
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Business credit can provide protection, value, and financial security for your company. Here’s what you need to know.
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When starting a small business, there are many financial considerations to consider. Maintaining a consistent pipeline of work, marketing your services, and building your brand are big pieces of the puzzle, but to make a sustainable income and operate compliantly, you’ll need to think about your finances as well. Here are seven financial management topics…
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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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Financial management is an important part of starting your own business. As an independent contractor your job isn’t just about keeping your clients happy and moving from project to project. It will also involve taking on an administrative role to help make sure your business runs smoothly and compliantly. Here are eight financial management tips…
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