Presentation delivered by Gwen Plummer, Will Kelly, and Ben Harrison at the Messiah United Methodist Church Jobs Ministry on October 25, 2011
Citation preview
1. BEYONDFULL TIMEEMPLOYMENTPART TIME, CONTRACT & FREELANCE
WORKAS ALTERNATIVES TO FULL TIMEEMPLOYMENT Messiah UMC Jobs
Ministry
2. AGENDA Part Time Work (Gwen) Contracting/Freelancing (Will)
Self Employed Taxes (Ben) Questions
3. BRIDGING THE GAP:PT & TEMP JOBSWhy Consider PT or Temp
Work? Source of Income (maybe benefits) Keep Skills Fresh or Learn
New Skills Opens Doors Contacts & Employers Allows Time to
Search for Permanent Job
4. PART TIME JOBSShorter Work Week (Under 30-35 hrs)
SeasonalTax Season, Summer, Holiday, etc. Shorter Week & Shift
Work Helps with childcare issues Time available 9-5 for FT
interviews Work from Home? Caution re:$$ outlay and legitimacy
5. TEMPORARY JOBS Short-Term Commitment: FT or PT Try out new
companies, jobs, skills Gain experience Flexibility: duties, time
committed Potential for Permanent Hire
********************************AGENCIES: TEMP vs TEMP-
TO-PERM
6. WEB RESOURCESwww.snagajob.com: part-time
jobswww.americanstaffing.net: agencieswww.net-temps.com : temp
listingswww.quintcareers.com Search: Temp Jobs &
MatureWorkerswww.aarp.org/work/www.jobsearch.about.comSocial Media
Sources!
7. CONTRACTING AS ALONG TERMEMPLOYMENT SOLUTION Many
definitions of a contractor Individual as a W2 contractor
Individual as a 1099 contractor
8. WORKING THROUGHCONTRACT AGENCIES PLUSES MINUSES Back office
Crowded market support/collections Rates are being Regular paycheck
choked Some access to In Business to place bodies group benefits
Salary + Overhead Access to clients & can price you out of BD
deals Work on a contract Work on a contract term term
9. MANAGE RECRUITER &AGENCY RELATIONSHIPS Beware of dual
resume submissions. Remember agency recruiters arent HR Pros. Get
job description/requirements in writing. Find a good recruiter,
connect with them through LinkedIn and stay in touch. Cut bad
recruiters loose.
10. WORKING AS AFREELANCER Must meet independent contractor
guidelines. IRS Site Must like working without a net youll be
wearing a lot of hats. Every day is a passive (and often times)
proactive job hunt. Treat it like a business
11. CALCULATING YOURHOURLY RATE 1099 vs. W2 Being competitive
while not pricing yourself out of contracts Know your expenses
every month Rent/Mortgage Utilities Car payment More firms trying
to place contractors push down hourly rates Companies hiring
contractors are pushing back on rates as well
12. GETTING HEALTHINSURANCEAssociations Alumni Groups Cobra
Contract Agency/Employment Firm Can you get coverage? Can you
afford the premiums? Does it cover what you need covered?
13. IRS WEBSITE VERY HELPFUL
http://www.irs.gov/businesses/small/index.html
14. SELF EMPLOYED ACCOUNTINGSeparate savings/checking
accountKeep track of all business related expenses Paper,
Computers, Printers / Ink Travel to business related meetings or
purchases Health InsuranceYou can write off home office Heating,
Electric, Water, etc. A portion can be written off, keep track of
them as they happenSet up simple spreadsheet using MS Excel or
Google Docs Thoughts: Tab for Income, Tab for Expenses, Tab
Mileage, Tab for Home Office Utility details. Keep track of date of
transaction, amount, and descriptionKeeping organized now =easier
tax and business preparation later!
15. SELF EMPLOYED TAXES Set aside at least 30% of paychecks for
tax purposes Recommend SEP-IRA (up to 20% of earnings) To make
estimated tax payments visit: Electronic Federal Tax Payment System
(EFTPS) website Visit IRS Website for more details on taxes:
http://www.irs.gov/businesses/small/index.html (Bing or Google
self-employment taxes) Recommend using a tax professional Read the
rules before taking a deduction! Dont do something you may regret
and pay for later.