Apologies for the long post. I have been at my current job for about 6 months, it is a pet store with a grooming buisness in back, and came on completely clueless that I could not be a employee and a 1099. I ended this 2015 as both, now that I have learned this and questioned my employer she spoke with our accountant and was told she couldn't afford me otherwise among other things. My employer realized what they had been doing was wrong but we have to refigure my pay structure. I was hourly with 20% commission, but they cannot afford to pay my taxes etc to put my commission on my W2. I love my job at this location so I need to come to the table offering an alternative so I can stay. I built the salon up and doubled the sales and clientele in my short time there. So I was thinking of becoming a table renter, I am currently the only hroomer and run the entire grooming buisness aside from purchasing products, so that wouldn't be much of a change for me. But where do I even begin as far as what all I need to do so? I have to go to my current employer with my offer on monday. But as I said I really don't even know where to begin. Thanks in advance!
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I'm considering booth rental as well. Never done it before so I am no expert, but based on what I I've been reading I started with getting a quote for professional liability insurance since I'll essentially be my own business. Then I did some reading on what taxes an IC is required to pay. You're responsible for keeping track of your own income. Now, knowing I can handle both of those things (although it's going to be a lot more bookkeeping then I had to do as an employee!) I've been reading booth renter contracts and seeing how they're worded to protect both me and the shop owner. Hoping you get another reply as I'm curious what a veteran renter has to say. Really hope it works out for you!
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Originally posted by Lucha View PostI'm considering booth rental as well. Never done it before so I am no expert, but based on what I I've been reading I started with getting a quote for professional liability insurance since I'll essentially be my own business. Then I did some reading on what taxes an IC is required to pay. You're responsible for keeping track of your own income. Now, knowing I can handle both of those things (although it's going to be a lot more bookkeeping then I had to do as an employee!) I've been reading booth renter contracts and seeing how they're worded to protect both me and the shop owner. Hoping you get another reply as I'm curious what a veteran renter has to say. Really hope it works out for you!
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