The lure of independence: More money, more flexibility, be your own boss.
Being an Entrepreneur, Independent Contractor, Independent Consultant, Independent Professional, Self Employed, Sole Practitioner, Freelancer, or 1099er is part of the American dream. Entrepreneurship is also a driving force of economic development. It will continue to be the fastest road to new independent wealth in America in the next decade.
The realities of today’s economic environment can be the opportunity of a lifetime to control and succeed at what you do best. With the back office support of iamindependent (IAI), you can get all the benefits and services of a W-2 employee, with the flexibility of still being your own boss.
Eliminate costs for incorporating & professional insurances.
IAI operates in all 50 States and assumes the costs of registering to do business in each state you provide your services in. IAI stays with you as a portable employer of record as you go from gig to gig and state to state. In addition to workers compensation insurance, we carry a number of additional insurances including professional liability (errors and omissions) and general liability. IAI pays for these insurances that contractors would otherwise have to assume on their own.
Receive statutory benefits & direct deposit of payroll
An IAI member receives the same required benefits as a full-time employee (W-2) including workers compensation and unemployment insurances, social security, and all other programs at the federal and state level. This offers additional protection to the contractor.
Direct Deposit Services allows IAI to transfer funds directly into the contractor’s bank account without the delay of sending paychecks through regular mail. IAI offers a portable and affordable back office for independent consultants like you. Enjoy financial stability and security. Contact IAI today to learn how.
Avoid quarterly reporting requirements
As a 1099 contractor, there are a number of reporting requirements to the IRS and State Workforce Commissions that must be completed on a quarterly basis. As an iamindependent ‘employee’ (IAI contractor member), there is no reporting required. W-2 forms are automatically issued at the end of the year for income tax purposes.
Retirement plan - 401(k)
The 401 (k) plan that will allow you to set aside up to 10% of your W-2 wages towards retirement, with the maximum as set by current laws.
IAI reimburses you for IRS allowed and iamindependentSM approved business expenses on a pre-tax basis. This includes Business Expenses, Business Travel & Per Diem, Home Office Expenses, Education/Tuition Fees and Medical expenses. Please see the Expense Reimbursement Guidelines (doc) for additional information.
Call your own shots
Choice of exciting and challenging work assignments
Attaining additional skill sets
As an independent professional the following time and money eating burdens are assumed by IAI so you can focus on what you do best:
Researching Business Requirements & Regulations
Looking for Medical and Retirement Benefits
Being IRS compliant
Invoice and Collections Management
Unpredictable professional costs for accountants and lawyers
Tracking and getting paid for Business Expenses
Legal Contract and Liability Analysis
Federal, State and Local Requirements