It could be a couple months before you receive your first paycheck. If you re not financially responsible, independent contracting is not for you. It s not for the person who lives paycheck to paycheck or has no savings plan. Hammond also suggests that you hire an accountant. You can think that big check you get from the client is all yours and forget about all the taxes you have to pay.
Independent contractors are independently minded.
They want to make their own choices and decide their own work schedules. Part of their job is networking with clients and doing things employees typically don t pay attention to because they don t have to. Those working through staffing firms, on the other hand, work under the same kind of conditions as permanent, full-time employees. You need to decide if you re going to take care of paying your own taxes and finding your own liability insurance, or if you re going to hook up with one of the companies that handles all that for you. You also need to keep in mind that time spent on paperwork and administration is time you can t be billing.