meara, your situation may be different, but I really didn't have to do anything to set up as an independent contractor. Admittedly, we don't have an accountant do the taxes (*sigh*).
You may want to look into setting up an SEP plan if you're going to be self-employed for a while. It's a retirement plan, and you can contribute up to 20% of your pre-tax earnings.
meara, email Pete for the contact info of our accountant. We've worked with him for years and years.
I'm feeling crappy this morning, including chills and headache, so I took my temperature: 98.3. A few days ago I was feeling not quite so crappy as today and my temperature was 97.9. Am I running a fever?
Nope. Not to diminish you feeling bad but that's not a fever. My doctor friend would say not until it's 100 or over does it count.
If you're going to work for them long term, meara, they may handle taking care of the taxes for you. I worked for Chrysler as an independent contractor for a year and a half. They had me fill out time sheets like their permanent employees and took all the necessary pay out of my check for me.
Nope, Sail, this would be a I-have-to-pay-all-the-taxes kinda thing. But it would be lots of money, so that'd make up for some of it. :)
Thanks for the rec, Jilli, I have emailed him, and a couple other friends I have here who might have some suggestions. Eep.
Dana, the company I'd work for requires that I get professional insurance, and set up as a company (though it looks like setting up an LLC is pretty easy. I hope.)
the company I'd work for requires that I get professional insurance, and set up as a company
Ah, that's right. I still recommend the SEP thing.
But it would be lots of money, so that'd make up for some of it.
That's what counts! I'm considered a contractor right now, but I work through an agency, so they handle all the pay issues for me, insurance, etc. Much better pay than I'd make actually working for a lot of places, but the lack of paid vacation other than major holidays sucks.
Last night Hubby and I went to a restaurant known for their pies, and after I complimented them on having cherry pie so early in the season (mmm, cherry pie), the manager said they'd been laying in stocks of pie for today. Last year they hadn't heard of Pi Day and got wiped out by invading college students.
I got to explain Pi Day to Hubby; it was fun to watch him get the joke--and to be Top Geek if only for a moment.
I got to explain Pi Day to Hubby; it was fun to watch him get the joke--and to be Top Geek if only for a moment.
Actually, when I told my doctor it was Pi Day and said, "You know, 3-14," he immediately started reciting Pi to about the 10th decimal place.
I think I have a crush on him now.
My neck hurts.
As a result, my head hurts.
And this day is the epitome of Xeno's Paradox.
Shoot me.