Presentation Description:

This workshop addresses the needs of interpreters establishing themselves as a business and provides information to establish or improve their accounting practices, help their business "presentations" to become more professional, give them "tips" to help save money at tax time, marketing and familiarize them with the Small Claims Court system as well as addressing issues of customer service and power/status in the business community.

LEARNING OBJECTIVES:

At the conclusion of this workshop, participants will have a greater understanding of the tools available to them to assist in establishing and running a small business, naming and structuring their business, identifying themselves as independent contractor or employee and the benefits of each, keeping records and maximizing profits. Participants will be exposed to marketing strategies that are cost effective and customer service concepts such as developing "learning relationships" in an effort to embrace the importance of satisfying customers and overcoming the effects of dissatisfied customers.

Action Plan:

This presentation will begin with an overview of independent contractor status and discussion of the pros and cons of working as an IC or an agency. It will consist primarily of lecture interspersed with activities aimed at making the specific information applicable to each individual situation such as developing cost-effective marketing strategies. Activities are geared toward applying the concepts learned to individual's personal financial situation and building a professional portfolio to be submitted for feedback and for CEU credit.

Presentation Content includes:

1. Independent Contractor Status
   Reasons employers DO NOT want to consider you an employee
   IRS 20 factor test + additional tests weighted less significantly
2. Working through an agency
   No compete clauses
   See above list (limits to what agency can/should ask you to do as an IC)
   Reasons to work through an agency
   Reasons against working through an agency
3. The benefits of a CPA
4. >$600 = 1099 (W2 vs. W9)
5. How Technology Can Help
6. Bookkeeping
7. Taxes
   1. Tax Rates
   2. Tips on deductions
   3. Donations
   4. LOG, LOG, LOG!!!
   5. Mileage vs. Travel Time
   6. Travel expenses
   7. Entertainment (Promotions/Sales-in or out of town)
   8. Educational deductions
   9. Conferences/Conventions
   10. Claiming an in-home office
   11. Self employment taxes
   12. IRA's
8. IRA
9. Insurance
   1. Medical
   2. Disability
   3. Malpractice
   4. Business Overhead
10. Contractual Conditions
11. Small Claims Court
12. Marketing
13. Supply and Demand
14. Negotiating
15. Bidding for Contracts
16. Demand-Control Schema
17. Customer Service
18. Establishing Rates
19. Business Structures
20. Business Plans