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Law & Taxes for Independent Contractors, Freelancers & Consultants

Product Information

Format: Paperback Book

Whether you're an independent contractor, freelancer, or consultant, it all adds up to the same thing: you need to be more aware of laws and taxes than the average person.  Fortunately, Working for Yourself provides all the information you need to stay on top of it all. An independent contractor himself, author Attorney Stephen Fishman shows you everything you need to know.  It provides information on leasing space for work, Health Savings Accounts and solo 401(k) plans. It also examines how to choose a business name, deal with audits, take a home office deduction -- and much more.


About the Author

After stints in government and private practice, Attorney Stephen Fishman became a full-time legal writer in 1983.  He is the author of The Copyright Handbook, Web & Software Development: A Legal Guide, Hiring Independent Contractors and many more plain-English legal books, all published by Nolo.


Subjects Covered

• Meet business start-up requirements
  
  
• Set up home or outside offices
  
  
• Comply with strict IRS rules
  
  
• Establish sound business relationships
  
  
• Avoid unfair contracts
  
  
• Draft good agreements
  
  
• Get paid in full and on time
  

Includes

1. Working for Yourself: The Good, the Bad, and the Ugly

A. Working for Yourself: The Good
B. Working for Yourself: The Bad
C. Working for Yourself: The Ugly
D. How to Use This Book

2. Choosing the Legal Form for Your Business

A. Sole Proprietorships
B. Corporations
C. Partnerships
D. Limited Liability Companies (LLCs)

3. Choosing and Protecting Your Business Name

A. Choosing a Legal Name
B. Choosing a Trade Name
C. Choosing a Trademark
D. Choosing an Internet Domain Name
E. Conducting a Name Search

4. Home Alone or Outside Office?

A. Pros and Cons of Working at Home
B. Pros and Cons of an Outside Office
C. Leasing a Workplace
D. Restrictions on Home-Based Businesses
E. Deducting Your Home Office Expenses

5. Obtaining Licenses, Permits, and Identification Numbers

A. Business Licenses
B. Obtaining an Employer Identification Number (EIN)
C. Sales Tax Permits

6. Insuring Your Business and Yourself

A. Health Insurance
B. Disability Insurance
C. Business Property Insurance
D. Liability Insurance
E. Car Insurance
F. Workers' Compensation Insurance
G. Other Types of Insurance
H. Ways to Find and Save on Insurance

7. Pricing Your Services and Getting Paid

A. Pricing Your Services
B. Getting Paid

8. Taxes and the Self-Employed

A. Tax Basics for the Self-Employed
B. Handling Your Taxes
C. IRS Audits

9. Reducing Your Income Taxes

A. Income Reporting
B. Introduction to Income Tax Deductions
C. Business Use of Your Home
D. The Cost of Business Assets
E. Car Expenses
F. Travel Expenses
G. Entertainment and Meal Expenses
H. Health Insurance
I. Start-Up Costs

10. The Bane of Self-Employment Taxes

A. Who Must Pay
B. Self-Employment (SE) Tax Rates
C. Earnings Subject to SE Tax
D. Computing the SE Tax
E. Paying and Reporting SE Taxes
F. Outside Employment

11. Paying Estimated Tax

A. Who Must Pay
B. How Much You Must Pay
C. When to Pay Estimated Tax
D. How to Pay
E. Paying the Wrong Amount

12. Rules for Salespeople, Drivers, and Clothing Producers

A. Statutory Employees
B. Statutory Independent Contractors

13. Taxes for Workers You Hire

A. Hiring People to Help You
B. Tax Concerns When Hiring Employees
C. Tax Reporting for Independent Contractors (ICs)

14. Record Keeping and Accounting Made Easy

A. Simple Bookkeeping
B. How Long to Keep Records
C. If You Don't Have Proper Tax Records
D. Accounting Methods and Tax Years

15. Safeguarding Your Self-Employed Status

A. Who Decides Your Work Status?
B. If the Government Reclassifies You
C. Determining Worker Status
D. IRS Approach to Worker Status
E. Preserving Your Status

16. Retirement Options for the Self-Employed

A. Reasons to Have a Retirement Plan(s)
B. Individual IRAs
C. Employer IRAs
D. Keogh Plans
E. Solo 401(k) Plans
F. If You Have Employees

17. Copyrights, Patents, and Trade Secrets

A. Intellectual Property
B. Copyright Ownership
C. Patent Ownership
D. Trade Secret Ownership
E. Using Nondisclosure Agreements

18. Using Written Client Agreements

A. Reasons to Use Written Agreements
B. Reviewing a Client's Agreement
C. Creating Your Own Client Agreements
D. Putting Your Agreement Together
E. Changing the Agreement After It's Signed

19. Drafting Your Own Client Agreement

A. Essential Provisions
B. Optional Provisions
C. Sample Client Agreement
D. Using Letter Agreements

20. Reviewing a Client's Agreement

A. Agreement Consistent With Promises
B. Reviewing the Contract
C. Provisions to Avoid
D. Provisions You May Wish to Add
E. Client Purchase Orders

21. Help Beyond This Book

A. Help Resolving Disputes
B. Finding and Using a Lawyer
C. Help From Other Experts
D. Doing Your Own Legal Research
E. Online Resources

Appendix 1: Forms and Documents

Asset Log
Expense Journal
Income Journal
Invoice Form

Appendix 2: Sample Agreements

General Independent Contractor Agreement
Contract Amendment Form
Nondisclosure Agreement

Appendix 3: Agencies

State Offices Providing Small Business Help
State Unemployment Tax Agencies
State Sales Tax Agencies
Patent and Trademark Depository Libraries
State Trademark Agencies and Statutes


Product Reviews

"As an independent contractor, you are your boss. This is why Fishman’s book is so important."
     - New Orleans Times-Picayune

"Whether you already work for yourself or are thinking about making the move, Working for Yourself will help make sure it's done right."
     - Des Moines Register

"Walks the reader through the basics of choosing a business form and then deals with start-up concerns, the myriad tax-paying and reporting issues and introductory information on recordkeeping, intellectual property and agreements."
     - Minneapolis Star Tribune

"A comprehensive guide to meeting the requirements for starting as an independent contractor."
     - Orange County Register

"A clearly presented, all-around resource."
     - US News & World Report