Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0

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
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.