Independent Contractors

As an independent contractor you have the flexibility you need to enjoy your life on your own schedule. You know you need to cover the basics of financial planning - managing cash flow, strong financial statements and timely budgeting. Plus, you’re responsible for providing your own benefits. While you’re looking into medical plans, life insurance, even retirement planning, you should be considering your options for tax deferrals and savings. You may not have the time and experience to research tax and benefit laws while meeting your most important client deadlines.

Here are some additional issues to consider:

• Medical plans, retirement plans, life insurance, disability insurance, and long term care insurance…oh my! Which solutions make sense for someone in my situation? How can I take full advantage of the tax treatments available for each?
• Did you know the capacity for retirement savings can be dramatically higher for an independent contractor than for an employee with a 401(k)?
• Have you heard about a Roth 401(k)?
• How do you plan to market your services? What makes your offerings unique?
• Do you use the services of other professionals as part of your business?
• Have you considered liability protection for your business? What types of liability protection are available?
  
  
  The Professional With a Plan Wins