How to Become a Freelance Carpenter
The time has come when you are tired of not earning the money as an employee that you have the potential of earning as a freelance carpenter. You make the momentous decision of going out on your own. Here are some tips that can help you get started.
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Decide whether to become incorporated. The benefits are that you are able to deduct business expenses on your taxes. You also have the safety net, should you have the misfortune of being sued, of not losing your personal belongings or your house. As an corporation, you are also better able to raise money for your business, which is something that would be more difficult for a sole proprietor.
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Look for a lawyer who specializes in helping small business owners incorporate. The lawyer can help file the papers for incorporation for you, as well as help you discover whether the name you would like for your incorporation has already been taken. Having a lawyer as an advocate can be also be more than helpful should you face a lawsuit.
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Find an accountant. The taxes you will be filing when you become a freelance carpenter are more complicated than those you file as an individual. This is especially true should you decide to incorporate. Accountants that specialize in small corporations are especially valuable, and you can often find them via word-of-mouth from other carpenters who have decided to take the plunge into freelance work. Failing that, they are listed in the phone book.
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Get insurance from a company that specializes in policies for the construction industry. This is especially important should you decide to become a freelance carpenter who will work for general contractors as a subcontractor. The insurance is not health insurance, but designed to protect you should what you are building fail. You can also get riders that protect your tools should they get stolen. Contact an insurance company for more detailed information about specific policies (see Resources below).
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Create a sign and business cards. Include the information that you are insured. You can even choose to go the additional step of having your truck painted with your company name and info. Having a website is also a good idea to generate more work for yourself.
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