Terms & Conditions
Policies & Procedures
Consultant's Guide & Oh My!
Policies & Procedures
Consultant's Guide & Oh My!
Even thinking about all of it can make your head spin! And ache, at the same time! Most consultants do not realize it but when you sign up you, more than likely, agreed to the Terms and Conditions. The first company or two that I joined I was too excited and just clicked to get past them. Bet you did too!
It is important to know what the terms and conditions are so.... you really should find them and reread them. If you cannot find a copy of them in your back office you can go to the page where you signed up and grab a copy there. (Note you may have to log out of your account to see them so that your website does not recognize you as a consultant).
They will outline a lot of 'can' and 'cannot' talk. These usually do not change very often and there will be an announcement when they are updated. Companies have to have clear rules for legal reasons.(Beware of companies that change their T&C on whims to fit their emotions. They are not trustworthy.)
Their main things to realize is that you are not an employee of the company. An employee would be paid an hourly wage or salary and get a regular paycheck. We are independent consultants who get paid only when we preform our jobs and we have to take care of our own taxes etc.
Many times T & C will state if there are quotas and what they are. Quota is an amount that you must sell in a certain given time so that you remain 'active'. An example would be you must sell $100 worth of product every 6 months. Some companies can have very steep quotas but with rising prices and rising shipping rates a lot have cut back on the quotas. That is a good thing. Quotas can cause a lot of stress which we do not need.
Companies will need a 1099 form from you in their records. A 1099 is like a W-2 from a regular job where you clock in every day. It just states your social security number. If you make $600 + in one year they are bound by law to report it to the IRS.
1099s are usually provided by the company but you can also find them online. You can mail them in, fax them and sometimes even scan and email them in. You must send this in or they will withhold your pay. It is the law. :-) If you do not have a printer you can ask the company or the IRS to mail you one to fill out.
This is not your typical party hat!
They will outline a lot of 'can' and 'cannot' talk. These usually do not change very often and there will be an announcement when they are updated. Companies have to have clear rules for legal reasons.(Beware of companies that change their T&C on whims to fit their emotions. They are not trustworthy.)
Their main things to realize is that you are not an employee of the company. An employee would be paid an hourly wage or salary and get a regular paycheck. We are independent consultants who get paid only when we preform our jobs and we have to take care of our own taxes etc.
Be Wise ~ call your city and state offices to ask about the taxes and licenses you may need.
Many times T & C will state if there are quotas and what they are. Quota is an amount that you must sell in a certain given time so that you remain 'active'. An example would be you must sell $100 worth of product every 6 months. Some companies can have very steep quotas but with rising prices and rising shipping rates a lot have cut back on the quotas. That is a good thing. Quotas can cause a lot of stress which we do not need.
Companies will need a 1099 form from you in their records. A 1099 is like a W-2 from a regular job where you clock in every day. It just states your social security number. If you make $600 + in one year they are bound by law to report it to the IRS.
1099s are usually provided by the company but you can also find them online. You can mail them in, fax them and sometimes even scan and email them in. You must send this in or they will withhold your pay. It is the law. :-) If you do not have a printer you can ask the company or the IRS to mail you one to fill out.
Next..... Part 2
No comments:
Post a Comment
I love feedback and suggestions... share here!