Benefits of being an independent contractor

Benefits

You may be new to contracting or consulting, or a pro who already recognizes and reaps the benefits of controlling your career and earnings. As an independent professional the rewards can be GREAT, as long as you have the right business management service to administer your back office and offer you an umbrella of services.

At iamindependent (IAI) we have years of legal and accounting experience to help independents succeed. IAI gives you customized support so you can make the most of your talents and career. IAI becomes your employer of record and gives you access to executive level benefits and services: With IAI you stay independent, working for yourself and taking home more money than a traditional employee.

RECEIVE STATUTORY BENEFITS

An IAI member receives the same required benefits as a full-time employee (W-2) including workers compensation and unemployment insurances, social security, and all other programs at the federal and state level. This offers additional protection to the contractor.

ELIMINATE COSTS FOR INCORPORATING AND PROFESSIONAL INSURANCES

IAI operates in every state and assumes the costs of registering to do business in each state you provide your services in. IAI stays with you as a portable employer of record as you go from gig to gig and state to state. In addition to workers compensation insurance, we carry a number of additional insurances including professional liability (errors and omissions) and general liability. IAI pays for these insurances that contractors would otherwise have to assume on their own.

AVOID QUARTERLY REPORTING REQUIREMENTS

As a 1099 contractor, there are a number of reporting requirements to the IRS and State Workforce Commissions that must be completed on a quarterly basis. As an iamindependent ‘employee’ (IAI contractor member), there is no reporting required. W-2 forms are automatically issued at the end of the year for income tax purposes.

OBTAIN LOWER COST BENEFITS AND ACCELERATE PAYMENTS

As an IAI member you can pay for medical expenses, premiums and child care services using pre-tax dollars by subscribing to IAI’s flexible umbrella of benefits. There are no additional costs to the individual for administering these benefits.

DIRECT DEPOSIT

Direct Deposit Services allows IAI to transfer funds directly into the contractor’s bank account without the delay of sending paychecks through regular mail.

IAI offers a portable and affordable back office for independent consultants like you. Enjoy financial stability and security. Contact IAI today to learn how.

Benefits of being an independent contractor