Pigtails

Yeah, I used to (and still kind of do) get so frustrated that my sister/ other people close to me weren't supportive. I think she is supportive sometimes, such as saying she's proud of me for going so long without a drink etc., but other times she makes insensitive comments or does contradictory things, like saying my boyfriend shouldn't drink so much around me, then proceeding to drink a lot around me herself. Sometimes I just don't get it. But now I realize that her additude is not my concern, and I have people in AA and here online to support me. But still, comments like "take a shot before you resign" really irk me.

I have not taken the third step yet. I need to get a move on my stepwork. I think I will do all the steps as quickly as possible, then go back and do them again more slowly. Thanks for the help.

Pigtails

Well everyone, thanks for all the support and encouragement. Today is the day I'm going to give my notice. I still have a lot I wanted to get done before I did that, but, the guy I'm doing contract work for sent me an email asking me my status and saying there's a lot of work. So, it's time to make the jump. I am just going to tell my main boss this afternoon, and have a written resignation letter to provide her and the company president. I'm really scared but anxious to get it out of the way so I can move on! Thanks again everyone, I'll let you know how it goes. :-O

Anna

Pigtails, let us know how it goes with your boss!

I'm with you in spirit.

Pigtails

Thank you! I am so nervous. I was thinking how I wanted to give my notice and then go meet my boyfriend for a drink to celebrate/in relief that it's over with. I won't do it, but the thought is very strong, as it's how I've handled situations like this in the past. It still feels strange to be doing this stuff without alcohol!

MentalLoop

Maybe the drink after you quit isn't such a good idea, but a Grande Soy Cap or Grande Soy Latte always work for me. If you are feeling really deserving of a reward....there is always a Dunkin Donut!

Philo34

Fixed this for ya.

Great thread with lots of sound advice. Best wishes PTs. Updates required.

Pigtails

Thanks guys. Well some curveballs have been thrown at me. My dad reminded me that I don't have an agreement in writing from the guy I'll be doing contract work for. We have a verbal agreement and he had said we will draw up an official contract together, but, my dad and sister think that at least the essential terms should be in writing before I quit my job. I guess they have a point. The new guy has been telling me that the office is ready and things are getting busy, etc. I had told him I am giving notice today. But I just wrote back and said that before I give notice I would like to make sure we are on the same page about the essential terms of our verbal independent contractor agreement. I listed them and said that if he is of the same understanding, I will quit and we can work out the particulars in a written agreement on Friday, when I am coming to finish setting up the office and meet with a potential client of my own (one basic element of the contract is that I am free to develop my own business separate and apart from the independent contract agreement I have with him).

I hope this doesn't annoy the guy, and I should have thought of it sooner, but, I want to be protected. Also, a co-worker of mine who has left companies before said that they may lock me out of everything right away, so, I am taking time tonight to save all my important documents and get my personal things from my computer and office etc., in case that happens. So although I want to do it today to get it over with, I feel more prepared doing it tomorrow without any loose ends hanging, and, in the event that the other guy gets squirmy about the deal, I will see what I'm dealing with. (I don't expect him to, and there was another guy in his office when they presented me with the offer-- I will basically be doing contract work for both of them, and the other guy is doing contract work for the main guy as well, so it's kind of a team/contractor approach that could turn into a bigger business arrangement if we all want it to but for now is all working on our own but with contract agreements. The guy seems sincere but my dad's right that it pays to get things in writing before jumping ship... I feel rather silly for not thinking about that before.)

Pigtails

One of my bosses just came in and said they're glad to have me back from vacation, to rest up and settle back in, that they're happy to have me back and to have me here in general. I guess they know I've been unhappy and looking to leave, but were hoping to fix it. I feel bad because this guy (he is not my main boss) has been very nice and helpful to me, but, I must be on my way.

I'm kind of glad I had decided to wait until I get the written agreement in writing before I quit, because it would have been strange to quit after he was so encouraging to me. On the other hand, maybe no time is right and I should have just blurted it out. After that my main boss came in my office and seemed to be asking some fishing-type questions, which would have been a good opportunity to just tell her, but, I had decided not to. Ahh I feel like I'm going crazy and I have decided to quit tomorrow no matter what, just to be done with it. (Well, unless something unexpected happens in response to my email asking for the written agreement).

On a good note, I just realized a great reason to quit tomorrow... it will be my 60-day sobriety birthday. The perfect time for a new start career-wise.

Anna

Your Dad's advice is good, Pigtails and hopefully there will be no glitches getting the written contract by tomorrow.

eJoshua

Hey Pigtails, congrats! I know this is something you've been pondering for quite a while. It sounds very exciting.

wellwisher

Good luck, Pigtails...how exciting this is. I'm self-employed, too, and have been for over ten years. Many of my clients are self-employed as well.

A few things to look into as you embark on your adventure and if you are in the US:

Remember that if you are working on a subcontractor basis, you will probably be issued Form 1099 at the end of the year. If you are a sole proprietor, you will now be responsible for your own portion of FICA in addition to the employer's share. Many start-ups don't realize this, and end up owing quite a bit of money to the Fed and State at year end. Make sure you are adequately paying quarterly estimated income taxes to both the fed and the state for withholding tax, and both the employer and employee's share of FICA.

Record your beginning year mileage on your car's odometer. Get a mileage log and record every mile you do for business, and provide a brief description of the purpose for the trip. Dome puts out fairly nice mileage logs you can buy at a stationary supply store. Then record your ending mileage at year end. Keep every gas receipt, car wash receipt, oil change and car repair receipt, tolls paid, etc. At year end, your accountant can decide which automobile expense type to take based on the above information. He'll use a percentage of your business vs personal miles recorded.

Don't forget about liability insurance.

I've seen a lot of start-ups get slammed by the IRS if they have a tax liability over $1000.00 at year end and then they add a failure to pay estimated tax penalty on top of the outstanding balance. That's about the time I usually get called in. Forewarned is forearmed!

Good luck!

Itchy

Pigtails,
Some red flags are going up for me. I think first and foremost that your Dad is right. I would not quit a decent job before getting you memorandum of understanding in writing. Not quitting on their say so that it will be in writing the day after you quit your current job. Just go slower, don't burn your bridges behind you until you have another in front, in writing. k?

Itchy

Well wisher I was going to go there too but deleted it. In addition the scams some use to avoid having employees and the expenses of matching SS and doing the withholdings etc can be problematic for the bottom tier non employee.

I was in the composing screen when you were posting so it appears we were thinking some of the same things. I too had to handle both subs and employees as the sole proprietor of my company too.

Pay attention Pigtails.

Dee74

I know less than nothing about this stuff but it sounds like good advice PT

D

Pigtails

Thanks everyone for the helpful advice. Itchy and Wellwisher, I've done the cost-benefit analysis of having to pay self-employment/independent contractor taxes and my own expenses/benefits such as health insurance, liability insurance, and no matching retirement plan etc., and, although overall I will be making less initially than I do at my job, it is enough to live off of based on my expenses, and I have the back-up money saved, so, to me it is worth it, for the freedom and independence of working for myself. And if all goes as planned, I will eventually be making the same as, and then more than, I currently do.

I have spoken with several friends in my field who have blazed this path before me, and they have advised me about taxes... my good friend got hit with owing a big tax bill at the end of the year so she told me to put aside 33% of everything I make for my quarterly taxes. I also have a financial advisor I've spoken to regarding the insurance and benefits aspects, and I've spoken with a CPA who helps people set up businesses. On top of all of this, my profession provides me with a lot of experience/knowledge in this area, although I've found it's easier to advise others than myself.

I do appreciate the advice though! Mostly I feel silly for not having gotten a contract in writing by now... although we discussed things verbally and all seems above board, I don't want to be too hasty. I will keep you all posted! Thanks again.

MentalLoop

That pesky contract will get you every time. Your dad is spot on, the contract is even more important than just ensuring there is a deal between you, it also codifies the specific terms of the deal, and hopefully expectations. Not sure you want to go there yet, but a retainer is one sure fire way to ensure they are committed and serious. For example, if the give you a $5K retainer, then your hours logged can go against it until exhausted. Even if it is a fixed priced contract, then upfront consideration ensures that they secure your time, and that they are incentivized to work with you to ensure project success. This is probably a lot coming at you at once, and frankly, based on your initial post, it seems like you are going to move on irrespective of the this specific deal, so don't let all our useless advice overwhelm you. Plus - aside from not getting your contract in writing, it does appear you have thought most of this out - you are on the right track.

Pigtails

Thank you. I want to trust my gut, but, I also doubt myself, so, I am trying to balance it all out. I do want to do this... well, I want to leave my company and start my own business, regardless of this, but, of course I hope this works out as it is a better stepping stone. So, I appreciate everyone's advice.

Philo34

all this great advice, career, tax, legal, etc... Where am I again? SR?

Anyone else see the humor, or am I just twisted. On a serious note, this has been a helpful thread. I may be transitioning soon myself.

Itchy

We might be drunks, but some of us are rich drunks!
(just not me)

MentalLoop

We might be drunks, but we have learned how to manipulate, fool, high function, make people believe nothing was wrong, and frankly do all sorts of things successfully all while the liquor was mitigating our capabilities. Eliminate the alcohol and we are f-'n unstoppable. Seriously - absolutely incredible!

I can get the world to believe I'm not a drunk when drinking off my ass. Sober i should run for president and make America think i'm perfect and commit no sins!