Recently got hired for my first contract position. What are the things I should know about being a contractor?

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Loaded and diverse question…

Contract just mean you won’t be there forever. And a contract has terms. Study the terms (usually include your responsibilities). They could refuse to pay you if they feel that you are not delivering on the terms of your contract.

Keep looking for your next gig because it takes times and you have a known start date already.

Contractors, depends on what sector, companies, etc. are not always treated well. If that happens to be you. Just do it for the money. It will end.

Most of the time, they are not withholding taxes. So you need to put that aside. You may even need to do quarterly estimates with the IRS.

As a contractor, SO MANY THINGS are tax deductible because you are technically self-employed. Even part of your living quarters if you use out as a work space. Save your receipts and consult a tax accountant so you are prepared to save most on your taxes.

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Contractor jobs can be so much fun. Lots of cash and so much freedom!

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