Though the positives can shine through for independent contractors and consultants, the negative issues are beginning to rear their heads as well.
Yes, the expenses can be written off, and the tax benefits can be felt, but the complexities around accounting/AR, brokers, collections, audits, taxes/CPAs, contractual requirements and insurances are becoming more problematic than they are worth.
To solve some of the problems that come up for independent consultants, Rothwell International has created a business model to offer all the services and benefits that people need (yes, the W2 status needs to be implemented), but nearly every bit of the expenses write-offs, tax optimizations and independence that an independent consultant desires can be felt under the Rothwell W2 model.
The biggest advantage to the Rothwell model is the ability to gain access to group healthcare benefits and workers comp, professional liability, and Errors and Omissions insurance.
This is a great opportunity to continue consulting while getting the benefits that people so desperately need. www.BenefitsForConsultants.com