{ "media_type": "text", "post_content": "For people that do contracts for consulting instead of FTE. What advice, tips, and tricks do you have that you wish you knew from the beginning? I have an opportunity for a 1 year contract at 150/hr and I'm doing my research into how to set up a LLC/S Corp and what benefits/tax deductions I may make.", "post_id": "5f17216ef939c5002870f808", "reply_count": 9, "vote_count": 4, "bowl_id": "5ae4a4f739e7cb001391ec8b", "bowl_name": "Consulting Exit Opportunities", "feed_type": "bowl" }

For people that do contracts for consulting instead of FTE. What advice, tips, and tricks do you have that you wish you knew from the beginning? I have an opportunity for a 1 year contract at 150/hr and I'm doing my research into how to set up a LLC/S Corp and what benefits/tax deductions I may make.

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If you play it right a $150/hr contract is the equivalent of $300k salary. You can deduct the sh*t out of everything and bring your tax liability way down.

Not really, I did it once 10 years ago. I would go the usual route of online research and not pick the cheapest.

I just opened up an LLC and am working on contracts. It’s worth it! A bit of work to get set up but there are a ton of resources out there. Definitely look into state specifics around licenses and taxes! DM me if you want to chat more :)

Any recommendation on Solo 401K providers to open an account with?

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