Business Basics: Should an Independent Contractor Form an LLC?

Independent, or 1099, contractors run their own businesses. A properly classified independent contractor is allowed to set their own hours, decide from where to work, and are allowed to negotiate payment. When you work as a 1099 contractor, you have to think of the businesses who you do work for as your clients, rather than your employer. independent contractorAnd as a small business owner, an independent contractor should treat his or her work like any other entrepreneur would, and that includes considering the formation of a separate business entity. So should 1099 contractors form an LLC? That all depends on their personal situation, but there are some great benefits to it.

Fewer Misclassification Concerns

The state has cracked down heavily on 1099 misclassification after years of erroneous assumptions as to what employers could and couldn’t expect from an independent contractor. Employers had been using the 1099 designator to keep employees from earning the wages and having the protections required by law. (more…)

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ABCs of Small Business Industry: G is for General Contracting

This week we’ve chosen to cover a very important sub-sector of the construction industry, general contractors. Now we did previously cover construction companies in an ABCs of Small Business Industry post. And you may be asking yourself if there are any differences between the two – don’t worry, there are. General contracting is a very specialized industry, with its own host of regulations and policies to follow. So how do you start a general contracting firm? general contracting

First, you need to be a licensed general contractor

Contractors are licensed, typically by the state. And without that license, you can’t offer your services as a general contractor. Licensing requirements vary from state-to-state, but most states maintain a database of active licenses, which the public can search through. Most of the companies looking for a general contractor will also want to see some sort of college training. (more…)

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5 Unexpected Costs to Watch Out For When Moving Offices

Moving to a new office space is an exhilarating and important step in any growing business.  Whether undertaking a remodel of an existing office space or constructing an office building from the ground up, the process can often prove more expensive than anticipated.  Savvy business owners will stack the odds in their favor by selecting an experienced general contractor for the project who can help keep construction costs under control.  Here are five unexpected costs you to be on the lookout for when remodeling or building a new office space.

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