A freelancer or self-employed person who offers a service and is contracted by a corporation or individual to accomplish a particular job is referred to as an independent contractor. Writing, graphic design, and editing skills are typically required on a temporary or short-term basis, but practically any form of job may be done as an independent contractor.
A freelancer or self-employed person who offers a service and is contracted by a corporation or individual to accomplish a particular job is referred to as an independent contractor. Writing, graphic design, and editing skills are typically required on a temporary or short-term basis, but practically any form of job may be done as an independent contractor.
Independent contractors are not business employees. They are often small company owners who subcontract their services. Clients, not employers, are the firms for whom they work. They do not get a salary, health benefits, paid vacations or holidays, or a retirement plan as independent contractors. Taxes are not deducted from their wages. Independent contractors are entirely work-for-hire and, as such, must pay their own taxes and, in certain situations, costs.
In most circumstances, there is a formal agreement or contract between the contractor and the corporation that outlines both sides’ rights and duties. There are conventional independent contracts, however they may be amended to satisfy either party’s concerns. There is also some leeway in terms of when and where independent contractors do their tasks. Depending on the firm and the task, some contractors work on-site, while others operate from home or an office. A mix of the two is also possible.
Independent contractors are becoming more common as both big and small businesses recognise the cost-effectiveness of employing someone to undertake a certain function as required rather to having full-time workers on staff.