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S Corporation business structure advantages and disadvantages.
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If working remotely while traveling the globe sounds like a dream come true, you’re not alone. Millions of Americans report working as digital nomads—people who embrace a location-independent, technology-enabled lifestyle while living and working remotely. Whether you’ve already tested the waters of digital nomadism and fallen in love with it or are simply curious to…
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What is a Digital Nomad? Digital nomads are people who embrace a location-independent, technology-enabled lifestyle. Digital nomads travel to different cities and even different countries to work remotely and explore new surroundings. Some people travel for years while others go for just a few weeks or months at a time. How do You Become a…
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Diversifying revenue streams for your small business can be a helpful way to prepare for uncertain times. Rather than putting all your eggs in one basket, a diversified business is more likely to withstand a cash shortage, economic downturn, or a dry spell of client contracts. Here are five ideas to consider when thinking of…
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If you have the characteristics of a successful open innovation solver, this world of solution crowdsourcing could be just the ticket. In addition to taking on new and exciting challenges, your participation (and winning solutions) can help you get noticed by potential employers, network with other solvers for business opportunities, and further establish your credentials…
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Startup costs for a new business are an important consideration. One of the biggest hurdles you will cross when going independent is truly making sure you are ready for self-employment. If you want to start your own business and already know the skills and services you want to offer to clients, congratulations—a big part of…
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Adding open innovation to your independent business might seem daunting if you are just starting down that path. It can even be scary. While you may be an expert in your field, brilliant at writing winning proposals, and have mad marketing skills, open innovation solving requires that and more. With all your professional accomplishments, stepping…
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A consulting agreement between an independent contractor and a client should provide legal protection for both parties while also clearly establishing expectations of the project to be completed. The exact language and sections included in your contract may vary depending on your industry, client type, and location. Independent contractor agreements are particularly important for independent…
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What is a Consulting 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. A SOW also provides important legal protections for both you and your client. While many people associate SOWs with large-company projects, they are equally…
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Tax planning and prep is an important part of your job as an independent contractor. Paying quarterly estimate taxes throughout the year is a good practice that helps eliminate a big tax burden and possible fine at the end of the year. Quarterly payments are due on April 15, June 15, September 15, and January…
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