Is a Freelancer an Independent Contractor?
Freelancers and independent contractors are two terms that are often used interchangeably. While there are similarities between the two, there are also important differences
Freelancers and independent contractors are two terms that are often used interchangeably. While there are similarities between the two, there are also important differences. In this article, we will explore what it means to be a freelancer and an independent contractor, the similarities and differences between the two, and the benefits of using a platform like Lancr.
What is a Freelancer?
A freelancer is a self-employed individual who offers services to clients on a project-by-project basis. Freelancers can offer a variety of services, such as writing, graphic design, and web development. Freelancers are not employees of their clients and work independently. They are responsible for their own taxes, insurance, and other business expenses.
What is an Independent Contractor?
An independent contractor is a self-employed individual who provides services to clients under a contract. Independent contractors can offer a wide range of services, just like freelancers. The difference is that independent contractors are hired to complete a specific project or task, as outlined in a contract. Independent contractors are also responsible for their own taxes, insurance, and other business expenses.
Similarities between Freelancers and Independent Contractors
Both freelancers and independent contractors are self-employed individuals who work on a project-by-project basis. They are not employees of their clients and are responsible for their own taxes, insurance, and other business expenses. Both can provide a wide range of services, and both have the flexibility to work on multiple projects at once.
Differences between Freelancers and Independent Contractors
The main difference between freelancers and independent contractors is that freelancers are hired to complete a specific task or project, while independent contractors are hired to complete a specific project or task outlined in a contract. Independent contractors are also more likely to work with a single client for a longer period of time than freelancers. Additionally, independent contractors are subject to stricter regulations and requirements than freelancers.
Benefits of Using Lancr
Lancr is a platform that connects freelancers and independent contractors with clients. By using Lancr, agencies can save 75% on fees and 2 hours a week paying their freelancers. The platform combines smart payment routing with easy-to-use time tracking and approvals, making it easy for agencies to pay their freelancers. Lancr also provides a range of other benefits, such as access to a network of talented freelancers, streamlined project management tools, and 24/7 support.
Conclusion
While there are similarities between freelancers and independent contractors, there are also important differences. Freelancers are hired to complete a specific task or project, while independent contractors are hired to complete a specific project or task outlined in a contract. By using a platform like Lancr, agencies can save time and money when paying their freelancers, and gain access to a network of talented professionals.