Technical experts often get opportunities to consult on a full- or part-time basis. Probably, you get offers from people who have worked with you before. You want to pick up the money on the table, but working on a 1099 basis as an independent contractor can mean a lot of extra work for you.
To legally work independently, you need to get a business license. Your clients also probably expect or require you to have insurance meeting certain minimum standards. You'll also owe self-employment taxes. The general rule is that one-third of the gross bill rate for consulting is going to get eaten up by business costs, leaving with with about 65% before income taxes.
Benefits? When you're on your own, you're on your own.
Bringing your 1099 work to XENSHA Consulting clears up a lot of the hassle. You're hired as a W-2 employee, so licenses, insurance, and tax filings are handled for you. You also become a member of our parent cooperative, giving you access to benefits that include a company-funded 401(k) plan, life and disability plans, and a holiday bonus pool.
Our core belief is that the value created by work belongs to the workers who create it. You'll be paid 65% of the revenues your work generates, the same amount you could expect to clear after covering , and you'll receive equity for the revenues you bring in and share in the net income of the cooperative at the end of each year.
It's common for people first getting into consulting to "test the waters" with small engagements while keeping full-time employment to cover their regular living expenses. Our cooperative business model makes XENSHA Consulting an ideal channel for exploring part-time consulting, because we're equally content with your pursuing a lot of work or just a little.
Interested in joining us? Contact us today!