4 THINGS A VA SHOULD KNOW AS AN INDEPENDENT CONTRACTOR
The virtual work world is growing, and it doesn’t seem to be slowing down anytime soon! Many positions are moving over to being contract-based, which is very different from being an employee. Is being an independent contractor better or worse than being an employee? I would say that is a personal question! As an independent contractor, you need to know about taxes, benefits, your pay, hours etc. etc. You need to take more responsibility for your finances, but with the right guidance and a good accountant, everything should be golden! We are sharing four things a virtual assistant should know as an independent contractor. Let’s get started!
1. You are self-employed
You are not an employee of your client’s business or of Rock Solid Virtual Assistants, LLC. Essentially, you are running your own business! Our support team is always here to help you navigate new territory with your client(s) and as a Rock Solid VA you are a representation of our company. However, at the end of the day, this is your VA business and you need to treat it as such.
2. There are no employee benefits
Again, you are self-employed, not an employee. Some clients can choose to continue services and payments even if you choose to take a vacation or take a leave, but it is not required nor should it be expected.
3. You need to handle all of your finances/taxes
Taxes will not be withheld from your monthly income for you. You are responsible for paying your own taxes including self-employment taxes. You are responsible to track your income and deductions for reporting purposes.
4. You are not guaranteed work
We make our matches based on the personality and skill set of the assistant, paired with client needs and personality. This means that after you sign your contract with us, there could be a window of time spanning from one week to a few months before being matched. Know we are actively trying to match you, but it takes time!
Want more? Here are some other helpful blog posts!
