Self-Employed

Gig Economy Gets Shout-Out In GOP Platform

Repubican Party

  From JDSupra, Richard Meneghello discusses the Republican Party’s inclusion of the gig or freelance economy in its platform.  Richard writes: For the first time in recorded human history, one of the major political parties mentioned the gig economy in its national platform. The future is here! The Republican Platform, ratified by the party on…

Here’s What Gig Workers Need to Know About Paying Taxes 

computation of tax and pencil

  From Money, Erik Sherman discusses what gig workers need to know about paying taxes.  Many people provide services or resources through online platforms, but may not be ready to handle the tax aspects of the transactions.  Erik writes: According to a study from the National Association for the Self Employed and American University’s Kogod Tax Policy…

It’s a Gig World Out There – Infographic

gig-economy-explained

From Visual Capitalist, Jeff Desjardins shares an infographic that explains the gig economy. Courtesy of: Visual Capitalist Related posts: The Beauty and Madness of Freelancing  From Visual.ly, Thomas De Vos published this infographic:  The Beauty and Madness of Freelancing.  He writes: The Gig Economy is full of challenges for the brave and daring. These statistics will…

The Modern Solution for a Multi-Faceted Workforce: Certified Self-Employed 

certified stamp

    From The Staffing Stream, Gene Zaino discusses the proposal for a certified independent contractor.  Gene writes: MBO Partners has proposed the Certified Self-Employed solution in direct response to this issue. The proposal creates a safe harbor for certain independent workers who wish to conduct their business responsibly and establish themselves as undisputed, self-employed,…

Benefits of Independent Contractors Liability Insurance

laptop in coffee shop

    Contractors Insurance offers terrific guidance on the benefits for independent contractors of obtaining proper insurance.  They write: 1099 employees are usually not covered by traditional workers’ compensation insurance. This means that if you are involved in an accident or injury on site, the company may not be required to cover your medical and recovery…

Pros and Cons of Sole-Prop, LLC, C Corp and S Corp

woman in front of chalkboard with pros and cons

    Independent Contractor Tax Advisors, a CPA firm focused on helping freelancers and independent contractors, offers its insights into the relative strengths and weaknesses of different business structures for independent contractors.  They describe the pros and cons of each type of entity including: SOLE-PROPRIETORSHIP Pros Sole proprietors are common because they’re extremely easy to set up…

Independent workforce: Decline this year but growth expected in next five years

Number of independent workers

  Staffing Industry Analysts (SIA) discusses a report issued by MBO Partners that shows a small decline in the number of independent workers.  SIA writes: In spite of a 5% decline in headcount this year, independent workers remain a powerful economic force, according to MBO Partners’ 2016 State of Independence in America report. Together, these Independents generate…

How Visionary Entrepreneurs Are Creating Million-Dollar, One-Person Businesses

two men at a laptop

    From Forbes, Elaine Pofeldt has another terrific article on the solopreneur/freelance economy.  She shares how well some individual entrepreneurs are doing.  She writes: Many people think that running a solo business means a life of financial struggle. But for a small but rapidly-increasing number, it can be a ticket to seven-figure revenue, according to new…

Labor laws, tax policy need to be adapted to gig economy, House Small Business Committee is told 

United States Congress

From The Business Journals, Kent Hoover reports on Congressional hearings conducted by the House Small Business Committee on the sharing economy.  Kent writes: The focus of the committee’s hearing was on how the tax code doesn’t work well for people who drive for Uber or work for other on-demand “sharing economy” businesses. As independent contractors, these…