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URL:  https://boards.fool.com/questions-about-contracting-15434648.aspx

Subject:  Questions about contracting Date:  7/24/2001  3:58 PM
Author:  rmbrokaw Number:  57 of 1670


I have recently (as of 4.5 hours ago) become employed - on a contract basis. Nothing has been signed, but the verbal agreement is there.

This brings up a myriad of questions.

I am being contracted through a contractor (that means I'm subcontracted, right?). Does this mean that I have to worry about my own income taxes? What about Soc Security and those "other things" that were always witheld for me by my hourly employers?

Are most contracts paid at point of delivery, or is there a week or two lag time after delivery to point of payment?

Do most contractors just budget really really well week-to-week during jobs and between paychecks, or is there something else there I'm missing?

Is there any other information I should have? I knew about contracting, but I never thought that I would be the one doing the contract work. (silly me!) Is there some obvious things I should be aware of before reality hits hard?

Thanks!

Becky

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