Bookkeeping11 Best bookkeeper independent contractor jobs Hiring Now!

As your business continues to grow, you will see how beneficial it would be to have the time you spend on bookkeeping to complete work within your expertise, acquire new clients and more. Hiring a professional to take care of your bookkeeping services will allow you the freedom you need to grow your business as an independent contractor. However, when a company hires an independent contractor, it is different. Contractors are held reliable for their tax payments and do not rely on businesses to withhold income tax for them. Doing this process will help reviewing your financial statements easier and make filing your tax return, federal tax, payroll taxes a breeze.

• While it’s not perfect, it is one of the best accounting programs on the market today and sets a high bar for what business money management apps can do.
• We provide independent contractors with essential bookkeeping services, including payable and receivable management, reporting, financial planning and business consulting.
• You will also forgo employee benefits like the Occupational Safety & Health Act , the Fair Labor Standards Act , and Title VII of the Civil Rights Act.
• Your bookkeeping needs may also be complex since you may have multiple clients and potentially even multiple streams of revenue.
• The more education and recognized skill-level the worker has will move him or her farther away from being an employee.
• When you sign on to perform an accounting or bookkeeping job, it’s important that you establish a clear working relationship with the firm that hired you.
• This can be more involved since you need to account for the money when the work is finished.

One of the first things you will want to do as an independent contractor is to set up a separate checking account for your business. In fact, depending on your industry, you may want a few business checking accounts. If you work in construction as an independent contractor, you may have one account for payroll, one for vendors and one for your revenues. Keeping your finances separate helps you stay compliant, makes bookkeeping simpler for you and offers a layer of protection against liability. With our budget and forecasting services, you can make better-informed decisions faster.

Getting Started with Bookkeeping for Independent Contractors

Our team will file your tax return based on your books, records and any additional information you provide. Our tax professionals decipher between all of your expenses and determine what tax is deductible or not. We then combine all of your information and prepare all necessary forms and schedules. When you sign on to perform an accounting or bookkeeping job, it’s important that you establish a clear working relationship with the firm that hired you. And, should you ever come under IRS scrutiny, it’s essential that you have a record outlining your status as an independent contractor and not an employee of your client.

If you are an individual seeking help with your taxes and you simply want everything in writing. No need to spend hours finding a lawyer, post a job and get custom quotes from experienced lawyers instantly. You’ll likely need to file Form 8829 along with your Schedule C when taking the home office deduction, which you can learn more about in our guide to the home office deduction. Depending on your plans for using QuickBooks, Better Bookkeepers will train you accordingly. If your needs are fairly basic, then a quick crash course might be right for you. On the other hand, we’re also prepared to offer thorough training that will all-but make you a QuickBooks expert.

Tips on Managing Payroll for Construction Businesses

Independent contractors can be an asset to your company if used effectively. Quite a few business owners run into problems when they treat contractors as employees. Knowing the guidelines and maintaining the rules of independence are the keys to ensuring mutual understanding. By hiring a monthly bookkeeper, you’ll better track your payroll and be provided with current insight into your finances. Bookkeepers organize all the different facets of your payroll into an understandable viewpoint. If you’re just starting out or only have a few clients, then start with a basic version of accounting software that is less expensive.

Thorn, CPA, PLLC know what it takes to keep area businesses profitable. Our team is ready to help you manage your bookkeeping and other business accounting needs. You many not have considered this, but requesting your own EIN or Employer ID Number can greatly benefit you. Instead of just being a “contractor for hire,” becoming your own business provides many tax breaks that you wouldn’t receive otherwise.

bookkeeper independent contractor jobs

They tend to get paid for projects, they worry about their own taxes, and work when and where they want. It’s a specialized computer program that’s designed as a flexible, easy-to-use accounting solution. As a result, the program has become commonplace among small businesses and only continues to getmore popular.

As mentioned before, most of the popular accountant for independent contractor and accounting software on the market has built-in features for maintaining records built in, which makes this process much easier. Working with a professional accountant and bookkeeper will help to eliminate much of the stress that comes from being a business owner and helps you stay on track financially. In addition, keeping your books organized will put you in better position if you ever apply for a business loan. Many new independent contractors will start out doing bookkeeping themselves. Cash can be tight early on, so being responsible for your books can help you save some money while starting your business. The trade-off is that your employers do not put money towards your health insurance, workers’ compensation, bonuses, unemployment taxes, payroll taxes, or contribute to your 401.

Make Sure Your Bookkeeping Approach Is Poised to Grow With Your Business

We save you money the moment you hire us by cutting out the expensive cost of hiring an in-house CFO. Get real-time access to your most important information with a cloud-based system. Review your information where, when and how you prefer, whether that’s on your smartphone or on your home office desktop.

As an independent contractor, you probably understand the need for outsourcing some aspects of a business. If you are loaded with projects that need to be completed, then doing your own taxes becomes a burden that you do not have time for. Preparing for the future is the smartest decision any business owner can make and as an independent contractor, you should think ahead too. No matter how successful you are right now, things can always change. That doesn’t mean the quality of your work is bad, it just means that anything can happen.