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Here's what you need to know to start and build a successful business as a self-employed contractor.Be Sure You Want to Be Self-Employed.Get Financing in Place Beforehand.Create a Business Plan.Name, Register, and Insure Your Contracting Business.Market Your Business.Be Your Own Accountant, for Starters.More items...?
Make sure you really qualify as an independent contractor. Choose a business name (and register it, if necessary). Get a tax registration certificate (and a vocational license, if required for your profession). Pay estimated taxes (advance payments of your income and self-employment taxes).
Like many other states, you do indeed need a contracting license to work as a contractor in Georgia.
To ensure you're protected from start to finish, always follow these protocols before you hire.Get Proof of Bonding, Licenses, and Insurance.Don't Base Your Decision Solely on Price.Ask for References.Avoid Paying Too Much Upfront.Secure a Written Contract.Be Wary of Pressure and Scare Tactics.More items...?
Like many other states, you do indeed need a contracting license to work as a contractor in Georgia.
How Do You Become Self-Employed?Think of a Name for Your Self-Employed Business. Consider what services you will offer, and then pick a name that describes what you do.Choose a Self-Employed Business Structure and Get a Proper License.Open a Business Bank Account.Advertise Your Independent Contractor Services.
In addition, Georgia requires you to subcontract with specialists for certain types of work. This includes electrical, plumbing, and HVAC projects. You can still act as the supervising contractor, but a licensed subcontractor must perform the work.
Yes, homeowners can act as their own general contractors without being licensed as long as they will occupy the structure themselves. That means the structure cannot be constructed for sale or lease.
Who Needs a Contractor's License in Georgia? General contractors performing work over $2,500 and all residential contractors need to obtain a license at the state level.
Becoming an independent contractor is one of the many ways to be classified as self-employed. By definition, an independent contractor provides work or services on a contractual basis, whereas, self-employment is simply the act of earning money without operating within an employee-employer relationship.