Pricing for Independent Contractor Services
IProfessional charges a fixed management fee of 3.9% of gross billings with an annual cap of $6,000. Our fee includes the cost of business insurance, your personal assistant, the minimum corporate taxes in most states* and access to all the features and benefits IProfessional offers.
Since we put a cap on our management fee the relative cost, as a percentage of gross billings, goes down as your gross billings go up.
If you work a Standard Consultant Year consisting of 1880 hours at a billing rate of $100 per hour, the actual costs, as a percentage of Gross Billing, is 3.2% (see chart below to calculate fee).
Hourly Billing Rate
Cost Per Year
Fee as % of Gross
Once you hit the cap you can continue to use all the services IProfessional offers at no additional cost for the rest of the year!
Pricing for Corporate Services
IProfessional Description of Services and Rate for Corporate Customers
IProfessional is a certified Veteran Owned Business which provides Independent Contractor Payment Processing Services for independent professional service providers and small business contractors engaged by IProfessional Corporate Customers. IProfessional charges a fixed mark-up percentage applied to Contractors’ total billed cost for their services. Independent of IProfessional, Customers and their Independent Contractors must determine the total cost rate per labor unit for the work to be performed.
IProfessional provides three variations of its services.
- Engages contractors for services to be provided to Customer
- Collects timesheets and expenses incurred and submits them for Customer authorization
- Invoices the Customer for all authorized work and expenses
- Offers electronic business expense account processing
- Offers W-2 employment and a comprehensive employee benefits and pension program to Independent Contractors
- Assesses Independent Contractors for compliance as an Independent Contractor (IRS) and requires W-2 employment for noncompliant Independent Contractors
- Pays Independent Contractors for work after payment has been received for the Customer
BASIC & FINANCE:
- The Basic Service plus the advance of Independent Contractor payment (paid within 15 days of authorization of time submissions)
BASIC & FINANCE (Non-US):
- The Basic and Finance service for contractors who are not US citizens.
Corporate Client Price List
Percentages below represent mark-ups on Independent Contractor billing rate.
Basic with Financing
Basic with Financing (Non/US)
IPROFESSIONAL PAYMENT TERMS
For the standard service, IProfessional pays the Independent Contractor within 7 days of receipt of Customer payment. For the financed services, IProfessional pays the Independent Contractor within 15 days of Customer authorization of Independent Contractor time submission.