Essential Elements of a Freelance Worker
Freelancing is an emerging trend in the field of employment nowadays, and many people realize the benefits of working at home or anywhere in the world in a digital platform which proves to be convenient and comfortable. However, freelancing calls for a lot of self-discipline as there is no supervision from superiors and there are strict deadlines to beat so that you deliver the work as agreed.
Some people may view freelancing as a part-time job while others may take it as a full-time career but the fact is, it has good returns. Anyway, this is unlike other formal jobs where you have to be present at the workplace to do your duties, but it gives you the freedom to be self-motivated and work from anywhere without any person monitoring your progress. It might seem attractive but before you take the first step to getting a freelance job, here are some few facts that you must know well.
Contracts – Most companies that offer jobs to freelancers have short term projects which must be undertaking over a definite period, and usually, any freelancers would have the appropriate resources to complete the tasks. It is important to have a contract with the company so that it becomes a formal engagement which is enforceable by the law. The company must append a signature on the contract. The contract must show the type of work that you are doing, the duration to do the work, the amount payable and the payment terms.
Taxes – As a patriot to your country, you must submit your taxes. You will write an invoice to the company after you have done all the work and the company will pay the whole invoice amount without withholding any amounts for taxes. You have a duty to calculate your income tax amount and submit it to the tax authorities. You can set a separate account for tax purpose, and you should not be able to access it for your personal use. File your taxes on the right time so that you avoid any fines that could accrue due to late payment.
Holiday and sick pay – There is no allowance for vacation or sick days in freelancing. It is not like other forms of employment that you are entitled to holiday and sick pay, and it only counts for the days that you have worked. For this reason, you must work hard enough to cover for the days that you may not work due to some unforeseen event that may disrupt your job.
Time management – You are self-motivated, and no one is supervising how you do your work, and it is for you to deliver. You must complete your assignments within the agreed timelines as no one will be around to push you to do it. You need to have a schedule which will guide you on how you will accomplish all the tasks at hand.