Every contractor wants to have a fulfilling career, and there are lots of ways to achieve this goal and even go beyond. One of these is choosing to be an independent contractor. This approach gives you the flexibility and freedom that freelancing comes with and the stability and routine of full-time employment. In short, you’re getting the best of both worlds.
What Does Being an Independent Contractor Mean?
Independent contractors are simply self-employed professionals who offer their services to clients through companies. The way this works is quite straightforward: The employer arranges the deliverables and the independent contractor chooses their preferred process of meeting the deadlines.
The best part about being an independent contractor is you will have better control over your career and the companies you work for as you negotiate each contract. But unlike freelancing where you’d have multiple clients and projects at a time, being an independent contractor means you’re working under an employer and you’ll have to sign a contract.
In Tennessee, like most other states, every independent contractor must have a Tennessee Contractors License to avoid legal issues. Additionally, they must pay taxes whether working for an employer or taking on private projects outside the contract.
Benefits of Being an Independent Contractor
As an independent contractor, you will enjoy multiple benefits like setting your rates, choosing the contractors to accept, and more. Here are the top benefits to consider.
1. Tax Benefits
Independent contractors, according to the government, are self-employed individuals who own their businesses. Of course, this means you will have to pay taxes by yourself, but there’s a benefit here: You’ll get business deductions that don’t apply to employees. Such deductions include business loan interest, vehicle use, business travel expenses, advertising, business insurance, and more.
Still, it’s important to keep in mind that when working as an independent contractor, you’re responsible for tasks like supplying equipment for your project without reimbursement from your client. On the positive side, this means you get to deduct such expenses from the income you’ll earn. Also, it will be reasonable to charge a higher rate for your work.
2. You’re Your Own Boss
Working as an independent contractor also means you’re your own boss. Therefore, you can choose who to work with and who to avoid working with, as well as pick the most suitable jobs at that time based on the length of the contract. You also will have the leeway to decide how much of a workload you can do at a time.
In the end, being your own boss gives you a sense of control and freedom that you’ll never get as an employee which will feel quite fulfilling and empowering.
3. Greater Flexibility When Working
Want to be in better control over your working hours or location? Well, this is something that’s much easier to have as an independent contractor rather than if you were a full-time employee. In truth, a majority of independent contracting jobs are remote, but there’s always the need to spend some occasional time in the office to attend meetings or oversee certain processes.
Still, you’ll have a much better chance of controlling your work hours and location, which means you won’t struggle much to catch up with your personal life. This is a job arrangement that works great for parents of young children, people with certain health conditions, students, and those with a passion for travel.
Kickstart Your Career With RocketCert
Working as an independent contractor is, without a doubt, a rewarding way to explore the construction industry and increase your exposure. You just need to have the passion and dedication required to excel and the remaining requirements such as experience and certifications will be much easier to meet.
RocketCert supports you in this journey by offering expertly written courses that are quite easy to take and understand. What’s more, their courses come with a “No-Pass-No-Pay” guarantee, which is usually an assurance of quality. Visit rocketcert.com today to find out more and start your journey to success!
