Resume question about job history for the FTE to 1099 worker

unnamedplayer

Hi all,

Hoping for some feedback. I was working at a company full-time before recently being laid-off. I was a one-man shop and the company recognized their network is large enough that they can't go without any IT support, so we worked out a deal that involves me providing IT support to them on a contract basis. In a way I am pretty much like their own personal managed service provider, doing a lot of the technical stuff I used to do for them when I was full-time, but now only doing it when they purchase blocks of hours from me.

Now I am wondering, how would you approach this on your resume? Currently in my job history, I have something like

[FONT=Arial, sans-serif]Company, City, ST [/FONT][FONT=Arial, sans-serif]Mar. 2006 – Nov. 2010[/FONT]
[FONT=Arial, sans-serif]Job Title[/FONT]

Sorry the formatting is a little messed up. The date should be aligned to the right, but you get the idea.

Would you change it to reflect that you still do work for them? If so, how?

Thanks for any advice!

Essendon

I'd just go:

Company, City November 2010 - Present
Title

Same company, City March 2006 - November 2010
Title

Hope this answers your question. Not to derail this thread, but has being their managed services provider helped you? I mean now you are your own boss, you were in a position to negotiate terms with the company. Do you think you are better off now or back when you were an employee, I mean financially and otherwise.

unnamedplayer

Essendon wrote: »

I'd just go:

Company, City November 2010 - Present
Title

Same company, City March 2006 - November 2010
Title

Hope this answers your question. Not to derail this thread, but has being their managed services provider helped you? I mean now you are your own boss, you were in a position to negotiate terms with the company. Do you think you are better off now or back when you were an employee, I mean financially and otherwise.

Thanks for your feedback.

That's an interesting question. Am I better off financially? Well, no, not at the moment. I was able to negotiate a much higher hourly rate (about 3x actually), which sounds great but there is so much more that goes into this stuff. I really need more clients to make it worth while. Because they are in the position where they can buy hours from me, but it is at their discretion when they want to use me. So technically, they could let things go for a while before giving me work.

It really is like running your own little business which I was totally unprepared for. The hourly rate is higher, but again I've got my own taxes and healthcare I am paying for myself now. Also, there are so many little details you don't even think about. Like how to charge, what rates to offer, etc. etc. IMO it can be overwhelming.

erpadmin

unnamedplayer wrote: »

Thanks for your feedback.

That's an interesting question. Am I better off financially? Well, no, not at the moment. I was able to negotiate a much higher hourly rate (about 3x actually), which sounds great but there is so much more that goes into this stuff. I really need more clients to make it worth while. Because they are in the position where they can buy hours from me, but it is at their discretion when they want to use me. So technically, they could let things go for a while before giving me work.

It really is like running your own little business which I was totally unprepared for. The hourly rate is higher, but again I've got my own taxes and healthcare I am paying for myself now. Also, there are so many little details you don't even think about. Like how to charge, what rates to offer, etc. etc. IMO it can be overwhelming.

Man, did you at self incorporate at least under an LLC or S-Corp? The good thing about going this route is that you can expense EVERYTHING you couldn't do before...milage on your car getting to work, clothes you buy for work, heck even the car you drive can be expensed (car payments, insurance payments, etc).

If you haven't already, you should talk to a CPA (I am not a tax professional) to at least incorporate if you haven't already done so as well as minimize your tax liability. It was definitely in your employers best interest to 1099 you, because even at the higher rate, they come out ahead...(they don't pay SS, Payroll taxes, etc....and of course medical....).

You saved them tens of thousands of dollars.

TheSuperRuski

erpadmin wrote: »

Man, did you at self incorporate at least under an LLC or S-Corp? The good thing about going this route is that you can expense EVERYTHING you couldn't do before...milage on your car getting to work, clothes you buy for work, heck even the car you drive can be expensed (car payments, insurance payments, etc).

If you haven't already, you should talk to a CPA (I am not a tax professional) to at least incorporate if you haven't already done so as well as minimize your tax liability. It was definitely in your employers best interest to 1099 you, because even at the higher rate, they come out ahead...(they don't pay SS, Payroll taxes, etc....and of course medical....).

You saved them tens of thousands of dollars.

If you are self-employed but not registered as an llc or corp. Can`t you still write off expenses? I know your not a tax pro, but hopefully you, or someone else that comes across this thread can help me with that. I`m sure that knowledge will benefit unnamedplayer as well.
@ unnamedplayer
You can probably think of past expenses that were business related. And i know how you feel. The hourly pay looks glamorous(i`ve gotten paid 50/hr to replace a router) to a person with a regular hourly job but when everything else comes out of your pocket. You realize the truth, that your bottom line is getting smaller and smaller. If i can suggest another avenue of income you should try online market places like OnForce.com, FieldSolutions.com, and FieldNation.com(just to name a few). I`ve made a decent amount of money on OnForce, and I`ve just joined field solutions but i see the potential. I actually have a small client list because of OnForce. Not making 80k a year but give me time. I will need to start hiring people or building a team within a year or two.