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* Currently sole proprietor. Will switch to LLC or C Corp in 2018 (depending on income), but I'd talk to your accountant to find out what's best for you. * I'm
by acconrad 9y ago
* Currently sole proprietor. Will switch to LLC or C Corp in 2018 (depending on income), but I'd talk to your accountant to find out what's best for you.
* I'm remote currently with high utilization client (as a subcontractor) and smaller retainer clients.
* I am a firm of 1.
* I have an accountant to manage taxes and finances. I keep meticulous records of what is a business vs a personal expense. The subcontractor gig is insured by the main contracting company. The retainer gigs stipulate it is knowledge/access only, so without any IP deliverables required, so there's no need for insurance on that. I may get insurance if my employment situation changes in terms of the contracts I take on. For this, I'd talk with your lawyer.
* I would just buy health insurance through the state. I live in MA, so we have to have something. We're both young and healthy, and she has an incredibly stable job, so I don't worry about this one too much.
I should point out that I'm very new to this (4 months in) so definitely don't look at me as a source of having "done things right" - I am learning every day and still sweating it all.
- seangrogg 9y agoVery interesting. Thanks for being candid with your freshness to this experience; it's valuable all the same. A few more questions, as your availability permits: * Have you considered an S-corp? If so, reasons against listing it as an option? * Any recommendations in general contractors (even if not specific ones, just things to look for in a general contractor)? Thanks for your time and response(s)!
- acconrad 9y ago* I haven't considered it, I just do what my accountant advises * A general contractor? I hear that term I think of those guys who work on your house. Could you be more specific?
- seangrogg 9y ago* fair enough * I guess I just lifted the term as it seemed appropriate; given you mentioned subcontracting I imagine there is an entity above you that does the direct contracting - any recommendations for what to look for in that contracting authority?
- acconrad 9y agoGood marketing. They came to me