Unwavering Focus On The Soloist
When you consider all that a soloist does off the clock just to manage their solo business, you can appreciate the tremendous benefit of having the personalized support of an advocate whose sole mission is to make your job as a solo professional as easy -- and as profitable -- as possible.
Dedicated Personal Assistant
When you join Solo Workforce we assign your own personal assistant to handle the non-billable tasks you don’t want to do. Your personal assistant protects you from the drudgery and the risks of working on your own, so you are free to focus on your career, your clients and your billable activities.
Your personal assistant supports you in contract negotiations, handles invoicing and collections, manages your benefits, validates expense reimbursements and helps you optimize how your pre-tax revenue stream is allocated so you will always earn the highest possible total compensation consistent with your own needs and aspirations.
We Guard Your Worker Status
Solo Workforce rigorously guards your employment status to ensure you are never mistaken for an employee of the client.
Certified IC Status
Despite the enormous advantages of W-2 employment, a small percentage of Solo Workforce members prefer to remain self-employed independent contractors.
We assign the status of Certified IC Independent Contractor on those who pass our rigorous IC compliance protocols.
Certified IC Independent Contractors report their own reimbursed expenses and provide their own employee benefits. Solo Workforce becomes their Agent of Record and Certified IC professionals subcontract through Solo Workforce to their clients. Solo Workforce reports yearly Certified IC earnings on IRS Form 1099.
Warranted W-2 Status
We assign the status of Warranted W-2 Employee to contractors who do not qualify for Certified IC status or who prefer the enormous advantages of Warranted W-2 status.
Solo Workforce serves as the Employer of Record for Warranted
W-2 contractors. We contract directly with the client and Warranted W-2 contractors fulfill the contract as legal employees of Solo Workforce.
Warranted W-2 employees of Solo Workforce qualify for executive-level employee benefits and tax-advantaged income. Solo Workforce reports yearly Warranted W-2 earnings on IRS Form W-2.
We Support Continuous, Uninterrupted Employment
Contract professionals employed by Solo Workforce enjoy continuous, uninterrupted employment over a succession of contract assignments and multiple clients.
Loyalty Both Ways
Ordinary employers of record expect loyalty from their contract professionals but offer little loyalty in return. They automatically fire their contractors when their current contract assignment is up. For this reason, there is little incentive for a temp agency or any other ordinary employer of record to support the long-term interests of their contract professionals by offering superior benefits and highly tax-advantaged earnings. At Solo Workforce, we believe in loyalty that works both ways.
General Liability Insurance
GL insurance covers damage to the client, including property damage, bodily injury, slander, libel and associated legal costs. GL insurance is almost always required by the client.
Errors & Omissions Insurance
E&O insurance, also called professional liability insurance, protects you and the client against professional malpractice, errors of judgment, negligence and associated legal costs.
GL and E&O Insurance is Free
All Solo Workforce consultants are automatically covered for both GL and E&O insurance up to $7,000,000 aggregate at no cost to the consultant.
A Significant Savings
An individual policy for GL insurance ranges from $750 to $2,000 per year. An individual E&O policy can cost several thousand dollars more. Coverage for both GL and E&O through Solo Workforce is free.
Support for Contract Analysis and Negotiation
Solo Workforce provides another set of eyes to review your contracts. We make sure your contracts always support what is best for you.
Nobody Wants To…
Nobody wants to read a long, poorly drafted, one-sided contract filled with ambiguous terminology, unconscionable requirements and unreasonable penalties. Nobody wants to sign a legally binding work agreement that denies them their rights while imposing unfair obligations. Nobody wants to endure sixteen pages of nine-point type and paragraphs of ALL CAPS full of hidden gotchas, non-competes, claims on their intellectual property and other legal obscenities.
Solo Workforce To The Rescue
Solo Workforce understands contracts. We evaluate every contract and remove objectionable contract language. We always encourage our contractors to participate fully in contract negotiations, preparation and approval of the statement of work (SOW) and setting of a fair billing rate.
Our Contract, Your Contract, The Client’s Contract, The Best Contract
Naturally, we prefer our own master agreement. It’s simple, straight-forward and fair to all parties. If you prefer, we will incorporate elements of your contract. We will use the client’s contract if necessary. But in any case, we will only sign a contract that serves your best interest as a member of Solo Workforce.
Automated Time & Expense Reporting
Time and expense reporting could not be easier.
Online Submission and Approval
Simply log into our secure member site 24/7 to enter and track your billable hours, reimbursable expenses and per diem days, and to review expenses approved for payment. Submission and approval are done entirely online.
Expert Expense Validation
Your personal assistant carefully reviews and approves your submitted expenses. Our accountable plan lets you claim virtually any expense for tax-free reimbursement that a stand-alone business or self-employed professional could write off.
Get Paid On Time, Every Time
Procrastination and failure to follow up are the primary reasons why independent contractors don’t get paid on time. Solo Workforce eliminates procrastination and assertively follows up to ensure timely payment of outstanding invoices.
Set Your Billing Schedule
Bill by the hour, by the milestone or by the project. Invoice weekly, bi-weekly, monthly or on demand. You decide. We follow your lead.
Our contracts specify the most advantageous billing terms and payment cycle for our members. We follow up daily to ensure timely approval of completed work product. Using our proprietary online billing system, your personal assistant generates and delivers your invoice at the push of a button.
We review collection reports daily and follow up when payment from your client is not received on time. This takes you out of the loop, preserving your good relationship with the client and allowing you to focus on your billable activities while ensuring you always get paid on time.
Payroll On Your Terms
As the manager of your personal division, you are in charge of when and how often Solo Workforce processes your payroll.
It’s Your Payroll Schedule
Set a payroll schedule that works for you. Process payroll on all the funds in your division account or retain a residual balance to cover down time. We can set a fixed payroll cycle or process payroll on demand. You decide.
You Decide How To Allocate Your Funds
The size of your payroll depends on how you allocate your pre-tax revenue stream to cover income tax withholding, employee benefits, tax-free reimbursable expenses and tax-deferred contributions to your 401(k) retirement account.
Payroll Upon Receipt or Payroll Upon Invoice
Most highly compensated contract professionals prefer to wait for the client to remit payment before processing payroll, understanding that advance funding for payroll has a real cost. That said, payroll in advance of payment is available.
Direct Deposit Or Paper Check
Finally, Solo Workforce will deposit your net pay in up to three separate accounts of your choosing, allocated as you direct. Paper check by mail is also available.
Simplified Tax Reporting
Tax reporting is greatly simplified compared with self-employment or employment by ordinary employers of record.
Advantages of W-2 Status With Solo Workforce
- As a legal, regular employee of Solo Workforce, you receive a single IRS Form W-2 at the end of the year.
- Say goodbye to the shoebox. Receive tax-free expense reimbursements throughout the year as you incur them. No need to save receipts.
- Work for multiple clients, still receive only one W-2.
- With only one employer, you will hit payroll tax and unemployment tax wage caps sooner.
- You can forget about having to pay quarterly estimated income taxes. Solo Workforce pays your payroll taxes on time as you incur them.
- Significantly reduce the risk of an IRS audit. The IRS is much less likely to audit a corporate employee compared with a self-employed person.
- Improve your credit standing and qualify more easily for major loans. Lending institutions prefer seeing a W-2 form documenting regular employment.
Build Your Own Team
Indulge your entrepreneurial spirit without the hassle of building and operating a separate business. Solo Workforce scales with you as you advance to bigger projects and build bigger teams.
Think Big. Work Larger Projects
Solo Workforce gives you the credentials to make more money, to pitch larger clients and take on bigger projects.
Lead Your Own Team
Build your own team. Build multiple teams, all under the Solo Workforce umbrella. Your projects, your contracts, your team(s), our back office. Think big and Solo Workforce will stand behind you to make it happen.
Leverage Your Team
Solo Workforce will issue a consolidated invoice to your client with a separate revenue track for your management override and for each member of your team.