Resources for Sole Proprietorships

Working as an independent contractor can be as rewarding as it is challenging. You enjoy greater earning potential, manage your own workload, and have more autonomy. 

Still, running your own business can be overwhelming for those just getting started. 

We’ve put together a few resources for new independent contractors to help you get on your feet!

Understanding Insurance

There’s plenty to consider when setting up insurance as an independent contractor. Keeping your business, employees and yourself protected is more important than ever.

Insurance decisions can be daunting, but there are resources to help you get started.

‍SCORE is a nonprofit organization and partner of the US-SBA, providing guidance for those growing their business. 

Take a look at this great webinar from SCORE on best practices for business insurance as a sole proprietor: 

‍SCORE: Business Insurance Basics - What You Need to Know

‍Tax Resources

Managing taxes as an independent contractor can be a struggle. With many different forms and procedures, it can be tough to know where to start. 

Here’s a great resource from the experts at BlockAdvisors on tax prep for sole proprietors. This guide covers what to expect with your business taxes, what tax benefits are available, and info on the filing process:‍

Block Advisors - Sole Proprietorship Tax Prep

Work-Life Balance Tips

As an independent contractor, much of your time is spent on your business. Still, it’s important to keep a balance to avoid burnout, improve your focus and maximize productivity.

Remodeling Magazine shares tips for managing work life balance as an independent contractor. Remodeling Magazine suggests contractors find "regular downtime and exercise to relieve stress and enhance fitness”, along with many other great tips!

Read the full article from Remodeling Magazine here:

Remodeling Magazine: Work Life Balance‍

While any new business venture can be a challenge, there are many resources available to help you get started! Take a look at the links above, and leave the estimating to Clear Estimates!

-The Clear Estimates Team

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