February 27, 2020 7:46 pmPublished by Will Bachman When establishing your fees, you should understand the six different pricing structures and research the market rates for consultants with your experience.
February 27, 2020 7:44 pmPublished by Will Bachman You may need to send money internationally from a client operating in a different currency or pay a subcontractor with a checking account in a different currency. Most business banks can send an international wire transfer; a less expensive option is to use Transferwise.
February 27, 2020 7:43 pmPublished by Will Bachman Get set up to pay contractors electronically rather than paying with a check that can get lost in the mail. It’s best to set up ACH in advance of making your first payment.
February 27, 2020 7:40 pmPublished by Will Bachman Your business will keep you busy and you may be traveling. It’s best to automate your mortgage, utilities, phone bill, and other expenses by setting up automatic payments.
February 27, 2020 7:38 pmPublished by Will Bachman Once you set up your business, it’s a good time to take a look at your will and estate planning. A comprehensive plan may cost on the order of $5,000; a good investment that can save your heirs substantially more than that by avoiding probate. Get started with the downloads below the video.
February 27, 2020 7:37 pmPublished by Will Bachman Once you’ve left a big firm or corporation, re-assess your travel company loyalty programs, as your travel patterns may change. Take advantage of existing status and points before they expire, and consider consolidating your spend going forward.
February 27, 2020 7:28 pmPublished by Will Bachman As an independent consultant in the U.S., you need to pay estimated taxes quarterly to the federal, state, and local governments. A good thumbrule is to set aside half of your firm’s revenue for taxes. If you’ve worked outside your home state, you may owe taxes in that state as well. We recommend independent consultants
February 27, 2020 7:23 pmPublished by Will Bachman Bookkeeping software like QuickBooks is easier to use than a spreadsheet. Many small business accounting software tools like QuickBooks and its competitors provided automation to simplify your bookkeeping.