Common challenges facing contractors – Financial, accounting and others… Part 3
7. Pension and health insurance – contractors have to pay this themselves. Even though you will be paid a premium for your contracting and these are partly tax-deductible you will still need to budget to pay them. So before you make the move to contract, calculate what these are worth for you as part of your permanent job and calculate these costs into your contracting rate.
8. Marketing your services / increasing your business profile – You will have to consider the time you will need to allocate to work your network, build good relationships with agencies and consultancies to ensure you have a steady flow of work. Your Linkedin profile will be of paramount importance in this and especially how you structure it.
For all of the challenges outlined Accounting Pro will be able to offer help and guidance and have the expertise and products to help the contractor market. Please visit www.accounting-pro.ie and www.accounting-pro.co.uk
Accounting Pro is Ireland’s premier contractor accounting service. We are here to help you, the busy contractor and/or company, with all your accounting and payroll needs. We are both an umbrella company and umbrella corporation and we can create your limited company. We are experts in contractor pensions, contractor health insurance and contractor expenses. To learn more about what we do please review https://www.accounting-pro.ie/ and contact us by email: email@example.com or phone us 01 592 1199. For the UK see Accounting-Pro UK. “Common challenges facing contractors – Financial, accounting and others… ” is an article written by Accounting-Pro Ireland for the benefit of everyone. Feel free to share it but please give attribution on a CC BY-SA license.