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So, You Want to be an Independent Contractor ?
Ready to be your own boss? Do you want to be responsible for the success or failure of your own business? Looking for a tax write-off for your home office? Perhaps independent contractor status is for you.
Independent contractors have significant control over the type of work they do. Contractors can obtain the tools they need to do a job and don’t need to justify it to anyone. They also have flexibility to set their own hours and work from home, when practical. Becoming an independent contractor can be an excellent career and lifestyle decision.
To work as an independent contractor with AESI, also known as corp. to corp., certain conditions need to be met:
- You must be incorporated. You must be an officer and owner in the corporation.
- You must obtain general liability as well as error and omission insurance.
- It is advised that you obtain Worker’s Compensation Insurance. In the event of an on-the-job injury, AESI will not be able to cover you.
The idea of working as an independent contractor may sound attractive, but there are some drawbacks. Each of the three conditions mentioned above have associated costs. In addition, you would need to secure your own medical, dental, and life insurance. You would not get holiday or flexible time-off pay.
Weigh the pros and cons. Determine if independent contractor status meets your needs. AESI will work with you if this is your goal.
Founded in 1993, Albin Engineering Services, Inc. headquarters are located in Santa Clara, California. AESI has been a solutions provider to clients throughout the United States.