What is a 1099 contractor?
A ‘1099 contractor’, also referred to as ‘self-employed’ or an ‘independent contractor’, is a person who works independently. This means that they they work for themselves, and not for an employer. Usually, 1099 contractors are paid on a freelance basis. They often work through a limited company or franchise, which they own themselves. However, some 1099 contractors may work through an umbrella company. If you’re considering becoming a contractor, I have highlighted the main disadvantages and advantages which you should consider before becoming one. Enjoy! Disadvantages of being a 1099 contractor Firstly, being self-employed often leads to a lack of […]
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