Why not learn more about Freelancers?
What you Must Know before you Start Freelance Work
One form of employment that is becoming common nowadays is the freelancing, and many people are embracing it because there are numerous opportunities online that are untapped and additionally, it provides the most favorable conditions of work. There is a need for freedom in your job as you do not have to feel compelled to do it and fear for over supervision which may not lead to proper delivery.
Some people may view freelancing as a part-time job while others may take it as a full-time career but the fact is, it has good returns. It might not seem real to work for a big company from the comforts of your home or while you are out touring the world because it’s a tradition to go to work on daily basis and being at the company physically. It might seem attractive but before you take the first step to getting a freelance job, here are some few facts that you must know well.
Contracts – Most companies that offer jobs to freelancers have short term projects which must be undertaking over a definite period, and usually, any freelancers would have the appropriate resources to complete the tasks. Before you take up these jobs, you need to have a binding agreement with the company so that you are protected. The agreement must be clear and straightforward to understand for both the parties, and it must be signed properly. It should elaborate the work that you are doing, the duration and the payments and this would help to avoid any incidents of misunderstanding and exploitation.
Taxes – You have a duty to submit taxes from any activity of income that you do. You will write an invoice to the company after you have done all the work and the company will pay the whole invoice amount without withholding any amounts for taxes. Therefore, it is your responsibility to remit the tax to the authorities in the appropriate proportion according to your income. It is easy to have a separate tax account which you do not access so that it holds the tax amounts. File your taxes on the right time so that you avoid any fines that could accrue due to late payment.
Holiday and sick pay – Unlike formal employment, a freelancer is not entitled to any holiday or sick pay. Therefore, if you fall ill or go for a holiday at any time during the process of completing the tasks, you will not get any payment for the days. For this reason, you must work hard enough to cover for the days that you may not work due to some unforeseen event that may disrupt your job.
Time management – In freelancing, time is of the essence, and you must make good use of it so that you reap the most. You must complete your assignments within the agreed timelines as no one will be around to push you to do it. You need to have a schedule which will guide you on how you will accomplish all the tasks at hand.