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Posts Tagged ‘Contract’

Online Contract Jobs

Contract jobs are basically jobs that put on contract for a certain amount of time and usually leave you a choice to continue with the contract for ever or leave you with no extension. Online contract jobs are not long term unless agreed as such.

Using online contracts are a little tricky because you are not in front of the person who you are working for. Therefore, there are a lot of things that need to be considered when you are looking to take on contract jobs online. First of all you need to know where you are going to find these jobs online. One of the likely places you will find online is elance or rentacoder.com. These are two of the most reputable places you would find this type of job online.

When you are looking through each site, you will want to find out what it is that you want to accomplish and what you are primarily good at.

You will have to register with each one of these sites and then you will, of course, be able to find out what it is know you want to pick and choose freelance jobs. There so many choices; from writing articles for website owners to getting designing websites themselves. Pretty much, whatever you can think of as being a service for someone, you can get contracted with that particular person or company for a certain amount of time. The greatest part about all of this is that you can actually get contracted with more than one company or individual person.

Question by jbeck1234: whats the disadvantage of having 2 jobs on my w-9? ?
i am a chacha guide but do not plan to keep doing it but techincally if i sign with my new job i’ll have two employers. chacha is a contract position. does it make a big difference?

Best answer:

Answer by AnnaBelle
It shouldn’t matter at all. Come January, each employer will issue you a year end earnings statement for your work at that company, and send it to the IRS and the social security administration. They will do that, whether you still work for them or not.

Give your answer to this question below!

8 Pros and Cons of Software Engineer Contract Work You May Not Be Aware of

Article by Brenton Thornicroft

From September 2008 to March 2010, contract work increased 2% and part time jobs increased 16%, while temporary, permanent and full-time positions decreased significantly (-19%, -36%, -4% respectively). Read on to discover why software engineer contract work may prove to be a safer, smarter career move for you.

Software engineer contract work offers many benefits over permanent positions, although it has its downfalls. Here are some characteristics of contract work which may help determine whether or not it is a good fit for you:

Contract work pros:

Money – usually the pay will be better than permanent positions since there is less overhead incurred by the employer.

Flexibility – since you are paid on an hourly rate, you are not obliged to go over your set weekly hours. In many cases you are on your own time. Also, taking contract positions allows you to work on several different projects with different companies.

Experience – contract jobs allow you to gain experience and training in several different areas of expertise. This can be a great resume builder, however, you want to avoid being labeled a job-hopper, so show some concentration in specific areas.

Work from home opportunities – many contract employment opportunities are work from home. While some employees feel the need for a structured environment, many love the freedom offered by working from home (and its gas saving benefits!). If you work from home, you may qualify for a tax deduction for a home-based office.

Tax-deductions – contractors can claim tax-deductable business expenses. Make sure to keep record of any money you spend on office supplies, phone calls, and anything else related to job expenses. Also keep a log of the amount of miles that you travel in your car to get to and from your contracting job, as this can be another deductable expense.

Contract work cons:

Less benefits – this isn’t always the case if you find a generous company that is willing to negotiate your contract terms.

Uncertainty – during the economic downturn the average job-seeker was searching primarily for job stability. Now that things have eased up, contract work is gaining back its desirability for those who enjoy its benefits.

Taxes and health insurance – While full-time employees have taxes withheld from their paychecks, contractors must take care of their own taxes. Contractors are responsible for paying self-employment tax, which covers social security and Medicare. Additionally they are responsible for paying estimated taxes, which consists of self-employment and income tax in quarterly installments based upon what they expect to earn in the year.

Contract work can be highly beneficial to some, while not so fitting for others. Since much of software engineer work is project based, many of you in the field should be comfortable with this position type. In many cases software engineer contract work will be the most sensible choice for those in the industry and I highly recommend experiencing it at some point in your career. It can always be used as a gateway into a permanent position and is a great way to test if the company is a good fit for you. Always remember, over 70% of contract jobs turn into permanent positions, so there is a good chance it will open up opportunities down the road (Source: IBISWorld).

Employment agencies are often a good resource for finding contract work. Another option is to use freelancing resources.

Question by techengr36: How do I take advantage of no state income tax when doing contract work in that state?
I live in Alabama and have a 1 year contracting job opportunity in Texas. My family will stay with me in Texas during the summer but go back when school starts. What do I have to do to keep from paying Alabama state income tax? Do I need to change residences? Do I need to buy instead of rent? Would a W2 arrangement be preferable to a 1099? Thanks for the help.

Best answer:

Answer by lizzgeorge
If you change residencies to Texas, then you will no longer be obligated to pay Alabama state income taxes. But talk to a CPA to make sure you time it right. I think it depends on what state you reside in as of December 31 of whatever year you are filing taxes for.

All you have to do is maintain an address in Texas to become a Texas resident. You can rent or buy (obviously you should rent if you’ll only be there a year). You don’t even have to actually stay there. You just trade in your AL license for a TX one and register your car in TX. Ta-da, you’re a Texan.

What do you think? Answer below!

Disadvantages of Employment Contract

An agreement held between an employer and employee known as Employment contract has also some disadvantages.

An employee who works under an employer usually signs a legal document at the time of joining the work, and that document is known as Employment contract in general terms. This contract is made for the good relationship of employee and employer. However, it also contains some drawbacks for employee and employer both, describes below:

Although an employer has the right to terminate or fire any employee any time but then also there are some specific conditions before taking any such actions. For example, an employer can only terminate any employee when he has at least one specific and good reason regarding the action. This makes the work of an employer little bit difficult. Also there is condition that employer have to give the compensation at the time of termination.

Now, if talking about employee, once signed, employee can’t change the conditions of employment contract no matter he is comfortable or not.

Also an employee working under such contracts are usually bounds in company’s policies and laws and in the case of violation, he have to face the legal disputes.

Some employment contract has such clause for an employee like he can’t work with any of the employer’s competitors for a limit of time described in the contract. Due to this employee can’t work with the organization of his choice for some time limit. Also this contract works against your flexibility and limit. May be employee not feel comfortable because of this.

In case of violation of any rule, employee may face a legal dispute which is also the main disadvantage of contract. Another disadvantage is that employer can’t change any clause in the contract without informing an employee. And also while changing the terms, employer and employee must agree on that, then only changes can occur. Due to this, when sometimes employee doesn’t agree on the term, employer just terminate the employee from the contract.

However, employment contract have such disadvantages, then also the contract can be made more comfortable towards employee and employer. And this depends on the organization who prepares the employment contracts.   

Question by Carole B: As a seller, what are the advantages and disadvantages of going in a Rent to own contract?
I would like to rent my house to someone and I am interested in a rent to own option because time is running and I have to live the country for my job. Now I want to know if I chose the rent to own option will it be any disadvantages or advantages for me as a seller and or renter? what are the risk linked to such a contract. could you please give me more details on the whole process of such a transaction? It’s the first time I will do this so I don’t know how it works at all. Plus the buyer seems to know how it works and we’re meeting tomorrow. thanks all

Best answer:

Answer by ☼High☼Voltage☼Blonde☼
Don’t be cheap. Hire a professional with such risks.

Know better? Leave your own answer in the comments!