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Full Discussion: Best rules as a contractor
The Lounge What is on Your Mind? Best rules as a contractor Post 302740533 by jgt on Thursday 6th of December 2012 10:07:00 AM
Old 12-06-2012
My interpretation of your post is that you are working approximately 40 hours a week for a single client, but don't have any of the perks of being a full time employee.
Since your employment can terminate without notice, you need to do the following.
One put 6 months living expenses in the bank. Remember that the extra money that you get weekly has to also cover benefits that an employee gets and are hidden.
Two, start finding a second client that requires only 4 to 10 hours per week. In the long term, you need to set your hourly rate at approximately two and half times what you think a reasonable salary would be.
Three, check the income tax act and sales tax acts to see what requirements, obligations and allowances you may have/incur.
Four, consider developing a product, its the only way you can leverage your hours.
.
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LedgerSMB::DBObject::TaxForm(3pm)			User Contributed Perl Documentation			 LedgerSMB::DBObject::TaxForm(3pm)

NAME
LedgerSMB::DBObject::TaxFormm - Includes methods for saving and retrieving tax forms. SYNOPSIS
This module includes methods for saving and retrieving tax forms, and running reports. The tax forms are for reporting purchases or sales to tax bodies, and as of 1.3.0, the only tax forms officially included are those of the 1099-MISC and 1099-INT forms of the USA. Currently there is no abstraction layer to allow replacing the various reports on the fly, but this will have to be implemented in the future. METHODS
save Saves the tax form. Inputs are: form_name (required) The name of the form, eg, 1099-MISC country_id (required) The id of the country id (optional) The id of the tax form to overwrite In the future it is likely that we will add a taxform_sproc_id too as part of an abstraction layer. get($id) Retrieves information on the tax form specified and merges it with the current object. Properties set are: id ID of tax form form_name Name of tax form (eg, 1099-MISC) country_id ID of country attached to tax form get_full_list No inputs required. Provides a list of hashrefs (and attaches them to the form property of the object hashref). Each hashref has the same properties as are set by get($id) above, but also includes country_name which is the full name of the country (eg, 'United States'). Default ordering is by country name and then by tax form name. get_forms No inputs needed Returns a list of hashrefs representing tax forms. Each hashref contains the same properties as from get() above. Default ordering is by country id then tax form id. get_metadata Gets metadata for the screen. Sets the following hashref properties countries A list of all countries, for drop down box purposes. default_country The default country of the organization, to set the dropdown box. COPYRIGHT
Copyright (C) 2009 LedgerSMB Core Team. This file is licensed under the GNU General Public License version 2, or at your option any later version. Please see the included License.txt for details. perl v5.14.2 2012-03-25 LedgerSMB::DBObject::TaxForm(3pm)
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