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| Incorporating |
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| MQ_SAMURAI |
 Posted: Fri Mar 14, 2014 11:38 am Post subject: Incorporating |
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Newbie
Joined: 24 Feb 2002
Posts: 8
Location: Hotlanta
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Has anyone been asked if they were incorporated, when interviewing for a contract position?. Is this a trend now for a websphere position?, does anyone have any guidelines for this, I've done my research on llc, but need suggestions or advice...
Thanks, In Advance...
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Andrew
Cogito ergo sum
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| bruce2359 |
| Posted: Fri Mar 14, 2014 2:40 pm Post subject: |
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Poobah
Joined: 05 Jan 2008
Posts: 9399
Location: US: west coast, almost. Otherwise, enroute.
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I suspect that the you are being asked if you intend to be "an employee" or a "contractor." As an employee, you work only for this organization. A complete employee benefit package includes salary, healthcare, retirement, insurance, vacation, cellphone, pc, laptop, and more.
As a contractor, you and the organization will negotiate terms of service, along with a scope of work to be completed. You will be paid for those services a flat fee, or a daily or weekly or monthly rate - with no benefits whatsoever. (You might get a parking space in the company parking lot.) Usually, there is no restriction as to what other organizations you can also work for. However, you will likely be required to sign a non-disclosure agreement.
Do you have a business license from your city, county, state? If so, you will likely be engaged as a contractor, rather than an employee.
Yes, this is a trend, but it is not limited to WMQ, or hardware or software. It is a trend for many jobs when an organization 1) doesn't want to commit to a new-hire until he/she proves his/her worth; and 2) doesn't know what new taxes and other overhead expenses will be involved in the future.
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| MQ_SAMURAI |
| Posted: Fri Mar 14, 2014 3:08 pm Post subject: |
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Newbie
Joined: 24 Feb 2002
Posts: 8
Location: Hotlanta
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Thx bruce2359,
I've done contact wrk before, but never was required to be incorp., nor do I have the forementioned, of a business license as stated in your reply. So I was just trying to get a sense out here in this forum. I appreciate your quick response, it was helpful.
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Andrew
Cogito ergo sum
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| RogerLacroix |
| Posted: Mon Mar 17, 2014 12:27 pm Post subject: |
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Jedi Knight
Joined: 15 May 2001
Posts: 3253
Location: London, ON Canada
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Hi,
I would never ever do any consulting work without being incorporated or LLC and have insurance (errors & omissions).
Lets say you developed some program that had a security breach or you were on an important server and you wanted to delete files in a subdirectory and you did "rm -Rf *" except you were in "/'.
In you don't incorporate or LLC, the company you work for can sue you personally. You would lose everything - your house, your car(s), saving, etc.. but if you are incorporated or LLC then all they can take from you is your company and its possessions which for a consulting company is pretty much nothing.
In Canada, to incorporate a company it costs about $500 if you do it yourself or $1000 to $1200 to get a lawyer to do it. It is a one time fee, once it is done, you have it and you sign all contracts under your corporation or LLC. Its that easy.
Regards,
Roger Lacroix
Capitalware Inc.
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| bruce2359 |
| Posted: Mon Mar 17, 2014 12:33 pm Post subject: |
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Poobah
Joined: 05 Jan 2008
Posts: 9399
Location: US: west coast, almost. Otherwise, enroute.
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| RogerLacroix wrote: |
| I would never ever do any consulting work without being incorporated or LLC and have insurance (errors & omissions). |
Being incorporated doesn't shield you absolutely - see "piercing the corporate veil".
An umbrella insurance policy is available to the unincorporated, too.
_________________
I like deadlines. I like to wave as they pass by.
ב''ה
Lex Orandi, Lex Credendi, Lex Vivendi. As we Worship, So we Believe, So we Live. |
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| RogerLacroix |
| Posted: Mon Mar 17, 2014 12:39 pm Post subject: |
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Jedi Knight
Joined: 15 May 2001
Posts: 3253
Location: London, ON Canada
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| bruce2359 wrote: |
| Being incorporated doesn't shield you absolutely - see "piercing the corporate veil". |
The only way they could "piercing the corporate veil" (as a consultant) is if you worked at the company first as a non-incorporated individual. Hence, that would give them grounds for the piercing.
If you always do your work under the corporation then your client has no grounds to "piercing the corporate veil".
Regards,
Roger Lacroix
Capitalware Inc.
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| MQ_SAMURAI |
| Posted: Tue Mar 18, 2014 1:55 pm Post subject: Being incorporated doesn't shield you absolutely |
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Newbie
Joined: 24 Feb 2002
Posts: 8
Location: Hotlanta
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Roger & Bruce,
This was very informative, and helped me in so many ways, as to the direction I need to take..
Regards,
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Andrew
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I think, therefore I exist |
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