Re: Contracting Experiences

Subject: Re: Contracting Experiences
From: "Moore, Tracey" <TMoore -at- PARKERVISION -dot- COM>
Date: Tue, 6 Apr 1999 09:24:10 -0400

A good point was made that contracting is largely dependent upon one's
personality. People always assume that because I am a contractor I make
TONS of money. Well, that's not the case. I make slightly more than I
did as a captive employee. I don't get paid for time off, sick leave,
etc. I have to pay my own expenses and benefits.

As a contractor, I often spend a lot of time meeting with potential
clients discussing a proposed project, doing lots of follow up, seeking
out new work, all of which I don't get paid for. I also have to pay for
my own educational expenses, very rarely will a client send you to a
class or purchase training materials--they expect you to bring to the
table what they need.

As for experiences with recruiters: I have had the "bench time" offer,
only to have them renig just before hiring me, stating they only do that
for this title or that title. I wouldn't count on bench time. If you get
it, then be pleasantly surprised.

If you have to work on the client site 40 hours a week, it's very much
like a captive job. Every contract I've had through a recruiter has been
like this. It offers less freedom than a contract you obtain on your
own, where you can define your requirements.

You inquired about taxes. If you go with a recruiter, you'll most likely
be a W-2 employee as you are now--so there's nothing for you to do. If
you go 1099, you have to be sure to submit your quarterly estimated tax
and keep track of all business expenses. When figuring your hourly rate,
consider your expenses and taxes--that's where people go wrong. I'd
definitely consult with an accountant or attorney regarding the
benefits/costs of going 1099 vs. incorporating. It depends upon your
situation.

So this all sounds so negative, eh? I don't mean to be. Contracting
offers you something no captive job will: FREEDOM. I have a programmer
friend who said it best: "I've been offered full-time employment, but
when it comes down to it they can't offer me what I have: a good hourly
rate and six weeks off every year."

Good luck!

From ??? -at- ??? Sun Jan 00 00:00:00 0000=




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