• Section: Money Guide - Category: Home Business
• Written by Chris Simpson

Finding a work at home job is ideal for many people because they can break free of the corporate rat race. They can become their own bosses, set their own hours, and don't have to be tied to just one company.

An independent contractor is a fancy word for freelancer. You are independent because a company hires you on a per project basis and does not have to pay your medical benefits, vacation time, or taxes. They do not supply you office space or supplies and the company only pays for work that you have completed. Even if a work at home company hires you on a long-term basis, you are still an independent contractor rather than an employee.

There are numerous companies that hire independent contractors who work from home. The most popular work at home jobs involve data entry, typing, multi-level marketing, and customer support at telephone call centers. Because of their popularity, there is a lot of competition from other work at home candidates.

If yo

u choose to work from home as an independent contractor, you need to pay your own taxes on the money you make. You won't necessarily get tax statements from your company unless you have earned a certain amount of money, so accurate record keeping is imperative. Not reporting your income puts you at risk of having the IRS audit your return and possibly paying severe penalties.

Depending on which work at home job you choose, your company may not have enough work to give you full time hours. If you want to earn a full time income, you may apply for multiple work at home jobs. As an independent contractor, there is no limit to the number of companies for which you work.

Doing work for multiple companies may fill up your bank account but scheduling then becomes more important. Missing deadlines is a black mark on your record and you risk losing more work if you are continually late. Remember that there are hundreds of other candidates who also want to work from home, so if you ruin your reputation with one company, somebody will be in the wings waiting to take your place.

When you are deciding to work from home, take an accurate assessment of your abilities prior to applying for jobs. Certain work at home jobs will require certain skills and not every company will provide training. For instance, if you need to brush up on your typing skills, hold off on applying for any transcription jobs, which require fast typing speeds and accuracy.

Many people earn a full time income by working at home as independent contractors. If you approach this opportunity with a plan in mind and you are willing to be patient and learn new skills, you can achieve success.

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