Beyond full time employment

1. Beyond full time employment Part time, contract & Freelance work as alternatives to full time employment Messiah UMC Jobs Ministry

2. Agenda • Part Time Work (Gwen) • Contracting/Freelancing (Will) • Self Employed Taxes (Ben) • Questions

3. BRIDGING THE GAP: PT & TEMP JOBS • Why 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 jobs Shorter Work Week (Under 30-35 hrs) • Seasonal Tax 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 Resources www.snagajob.com: part-time jobs www.americanstaffing.net: agencies www.net-temps.com : temp listings www.quintcareers.com Search: Temp Jobs & Mature Workers www.aarp.org/work/ www.jobsearch.about.com Social Media Sources!

7. Contracting as a long term employment solution • Many definitions of a contractor • Individual as a W2 contractor • Individual as a 1099 contractor

8. Working through Contract Agencies Pluses Minuses Crowded market Rates are being choked In Business to place bodies Salary + Overhead can price you out of deals Work on a contract term • Back office support/collections • Regular paycheck • Some access to group benefits • Access to clients & BD • Work on a contract term

9. Manage recruiter & Agency relationships • Beware of dual resume submissions. • Remember agency recruiters aren’t 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 a freelancer • Must meet independent contractor guidelines. • IRS Site • Must like working without a “net” – you’ll be wearing a lot of hats. • Every day is a passive (and often times) proactive job hunt. • Treat it like a business

11. Calculating your hourly 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 health insurance • Associations 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 –Accounting • Separate savings/checking account • Keep track of all business related expenses • Paper, Computers, Printers / Ink • Travel to business related meetings or purchases • Health Insurance • You can write off home office • Heating, Electric, Water, etc. A portion can be written off, keep track of them as they happen • Set 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 description Keeping 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! Don’t do something you may regret and pay for later.

16. Questions?