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Paying an independent contractor is not the same as paying a regular employee. Unlike employees, independent contractors are self-employed, set their pay rates, and can negotiate payment options and schedules.

According to Intuit, in 2016, the percentage of Americans in the gig economy was 34%. It is expected to grow to 43% by this year. But, not every situation is suited for outsourcing. Sometimes you need people in-house. There are pros and cons to both situations.

Contingent workers are not on a company’s payroll and receive payment in a different fashion than normal staff. Understanding how to pay these workers now means less of a financial headache down the road.

The gig economy is transforming business for all parties involved. It’s one of the first times disruptive technology is truly benefiting everyone at the table.
Upwork, one of the leading digital platforms in the world, estimates that by 2027, there will be 86.5 million freelancers globally. The majority of the workers in the United States will be self-employed by then. That’s a whole bunch of people calling the shots!

It’s 2020. Time to start doing what you’ve always wanted to do!
If that’s freelancing, then hold your horses. Although 77% of full-time freelancers believe they have a better work-life balance since going solo, a freelance career can be very challenging. That’s why many people try and fail.
There are a few things you should know before you dive right in. It can be cutthroat, so here are some character traits that work best with your side hustle: