A Contractor is a term used to refer to someone who works independently on a contractual basis. This means they are not employed by a single employer, but rather, they take on individual contracts from employers and clients. Contractors usually specialize in a particular field or skill, such as carpentry, web design, or writing, and are responsible for completing the contracted work within the agreed-upon timeframe. Contractors are also known as freelancers, independent contractors, or consultants.
It is important for contractors to understand their rights and obligations as set out in their contracts. A contract is a legally binding document outlining the terms of an agreement between a contractor and an employer or client. It should include details of the services to be provided, the duration of the contract, payment terms, and any intellectual property rights related to the project. It is important for contractors to thoroughly review all contracts before accepting them, and to make sure they are comfortable with the terms and conditions. Contracts should be signed and dated by both parties to ensure they are legally binding.
See also: Freelancer, 1099 Worker, Independent Contractor
See also: Subcontractor, Direct Costs, Mileage Tracking, 1099-MISC Form