However, as the industry grows and as a growing number of people today "think" they are able to be virtual assistants; poor apples are bound to pop up. Our business alone has noticed an enhance from 500 VAs in 2003 to 18,000+ presently and growing at a rate of about 200 per week. So let's talk about the pitfalls and how you could stay clear of them and safeguard yourself.
But, But, But, I Should be An Employee! If you have only heard one factor about virtual assistants and also the advantages of hiring them it truly is that they are supposed to be independent contractors. I recently read a post that claimed that "eventually firms could be needed to bring virtual assistants on as employees instead of independent contractors." I just had to laugh! How inside the globe can an individual who self-directs how they do the work be regarded as an employee? And as a business owner you don't want staff. That's why you hired or are taking into consideration hiring a virtual assistant within the initial place. You did not want the employee "I want" and "I deserve" mentality.
I disagree 100% together with the opinion with the post that claimed virtual assistants will should be workers. There is no need for them to be staff. Here are several of the items that you simply and I, as shoppers, have to do to make sure that we set virtual assistants up so we're NOT ever needed to set them up as employees.
Because a virtual assistant is set up as an independent contractor, you do not have to withhold state or federal taxes, 401(k), Medicare, FICA, or any other employee-related acronym. As an independent contractor, a organization entity of their very own, it's up to the virtual assistant to obtain his or her own retirement program, medical insurance, file quarterly and yearly taxes, etc. However, be certainly certain which you send the virtual assistant a 1099 Miscellaneous Income tax form (in lieu of a W2, which employees only receive) each year.
Don't Tell! The last factor you desire to occur is for a virtual assistant to walk away along with your company's vital facts if the relationship turns south. It's absolutely imperative that you simply have your attorney design a non-compete/non-disclosure agreement and then be certain your virtual assistant signs and returns the agreement before beginning any perform for your firm.
But, But, But, I Should be An Employee! If you have only heard one factor about virtual assistants and also the advantages of hiring them it truly is that they are supposed to be independent contractors. I recently read a post that claimed that "eventually firms could be needed to bring virtual assistants on as employees instead of independent contractors." I just had to laugh! How inside the globe can an individual who self-directs how they do the work be regarded as an employee? And as a business owner you don't want staff. That's why you hired or are taking into consideration hiring a virtual assistant within the initial place. You did not want the employee "I want" and "I deserve" mentality.
I disagree 100% together with the opinion with the post that claimed virtual assistants will should be workers. There is no need for them to be staff. Here are several of the items that you simply and I, as shoppers, have to do to make sure that we set virtual assistants up so we're NOT ever needed to set them up as employees.
Because a virtual assistant is set up as an independent contractor, you do not have to withhold state or federal taxes, 401(k), Medicare, FICA, or any other employee-related acronym. As an independent contractor, a organization entity of their very own, it's up to the virtual assistant to obtain his or her own retirement program, medical insurance, file quarterly and yearly taxes, etc. However, be certainly certain which you send the virtual assistant a 1099 Miscellaneous Income tax form (in lieu of a W2, which employees only receive) each year.
Don't Tell! The last factor you desire to occur is for a virtual assistant to walk away along with your company's vital facts if the relationship turns south. It's absolutely imperative that you simply have your attorney design a non-compete/non-disclosure agreement and then be certain your virtual assistant signs and returns the agreement before beginning any perform for your firm.
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