Interim Program FAQ
Here are a few tips to help you navigate an interim role.
When I have worked with other firms they have paid me as a salaried or temporary employee. How is a 1099 contract different?
A 1099 contract identifies you as a private contractor. We know you are good at what you do and want to let you set your own direction. This means that while you submit an invoice for your time to Whitman Partners, you do not report to us in any other capacity. In a WP interim role you are accountable to the client and the terms of your contract, no one else.
What does a 1099 mean for my taxes?
Individuals on 1099 contracts are considered self-employed private contractors and must set aside their own taxes. IRS.gov provides some helpful information on this, but since interim assignment often occur in states outside of your primary residence it’s best to consult your accountant to figure out the specifics of each state you earned revenue in.
How is my pay structure set up?
Every two weeks you will submit your hours to your client executive and then invoice this to Whitman Partners. You will be compensated an hourly rate with no withholdings taken out. This is why your accountant’s input is so important.
Can you issue electronic payments or will I be receiving a check?
We can do whichever you prefer. With your account and routing number we can set up EFT (electronic funds transfer) directly into your bank account or mail you a check every other week.
I’m incorporated as an LLC, can you make the payments to my company?
If you would like payments to be directed to your LLC please let us know while we are still in the process of drafting your contract. For example, if your incorporation is John Doe, LLC, instead of listing you as contractor John Doe on the agreement we will need to list the company name.
What else is included in the interim package?
While on contract we will cover fully furnished housing, a rental car, and two flights home a month. Leading up to your start date we will also cover the cost of any necessary contracting pieces such as background checks, drug screenings, licensing, etc.