Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [consulting]

25 questions
32
votes
4 answers

When should I start an LLC for my side work?

I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.
Jeff Martin
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32
votes
6 answers

Why do consultants or contractors make more money than employees?

Why do consultants or contractors make more money than employees?
user454
16
votes
7 answers

In US, is it a good idea to hire a tax consultant for doing taxes?

I am going to start working in a software development company in Colorado, United States very soon. I am also single. The tax system here seems pretty complex to understand as well. Do employees in US generally hire a tax consultant to do your taxes…
Xiagua
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14
votes
4 answers

Offered a job: Should I go as consultant / independent contractor, or employee?

Two partners started a business, and it's grown pretty big (comparatively). Now they've asked me to be the CTO, and I've determined it's a good position for me to take. I'll be getting 90% of my current salary, and 5% equity in the company. The…
linkedlinked
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11
votes
2 answers

Applicability of form W-8BEN-E / W-8BEN to an Indian citizen

I am an Indian citizen residing in India. I have started working as a consultant for a US-based company since June 2015. I have submitted my first invoice to the company (I will be getting paid in US$) and just received an email from the company…
Arpita
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9
votes
1 answer

What are the benefits and downsides to an LLC vs. Sole Proprietorship vs. Individiual?

As a followup to my previous question, what benefits are there for an LLC vs. a Sole Proprietorship? What are advantages and disadvantages to both and also vs. just being paid as a person?
Jeff Martin
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8
votes
2 answers

What are the risks & rewards of being a self-employed independent contractor / consultant vs. being a permanent employee?

What are the risks & rewards of being a self-employed independent contractor / consultant vs. being a permanent employee? Note: I am, in fact, a self-employed independent consultant, and I often get asked this question by friends who are in…
Chris W. Rea
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4
votes
1 answer

Taxes and withholding on unpaid salary

I work as a consultant (1099) for a startup that has not paid my bills since June. Since I have not had any income I have not paid withholding since then. How do I handle my US personal income taxes on this? The company has been billed for 6 months…
russell
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4
votes
1 answer

How to correctly deduct purchase of a laptop dedicated to my consulting work?

I was thinking about buying a laptop to use dedicated for consulting. Currently I've been using the same laptop that I do my personal stuff on for my consulting work but I'd like to have a separate one now. My question is... how would I report this…
neubert
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4
votes
2 answers

Accounting/legal service for small part-time consultant

I am starting part-time consulting in the U.S. on the side of my full-time job, mostly for fun (programming and web development). So far, I only completed one project and although I am marketing myself for more, it's not unlikely I'll keep hovering…
FZS
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3
votes
4 answers

Bonus check or 1099?

I work for a small sourcing company, salary. I am currently working full-time for their largest client, but have asked for extra hours on smaller clients if possible. I was granted such and was given the decision to take the extra money, +5 hours a…
theblindprophet
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3
votes
3 answers

First time consultant, doubts on Taxation

I have seen various replies but I would just like to confirm about my case as its my first time. I have been offered a consultant position and the company said there is no tax deducted at source. So this means tax is deducted at my end. I would be…
X-jo
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3
votes
1 answer

Consult as an individual or as a company?

I work full time (so benefits, etc are covered), and recently have been offered a consulting position for a previous employer. I have read and fall within the acceptable guidelines of the Moonlighting policy at my current role, and have made clear…
im so confused
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3
votes
1 answer

Taxes and part-time consulting

I'm married and my wife and I work full-time. And I also started part-time consulting on the side (less than 10 hours per week or no hours during certain weeks). This is my first time doing consulting (1099) and I'm not really sure how to file my…
Gabbar
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2
votes
1 answer

Consultancy tax & VAT

I am an employee in the UK on a mid-income contract, and my income gets taxed through my employer's HR, without action needed from me. My contract allows me to do some bits of private consultancy, for which I can charge independently. This is the…
Strabonio
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