Here are the common categories & answers to our Frequently Asked Questions.

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    Client Relations and Marketing Support

  • Are there any limits to who my customers can be?

    IProfessional does not put any limitations on who your clients are.  However, every now and again there will be a company or agency who will be unwilling to work with IProfessional due to their contingent workforce policy.  If your client seems uninterested in entering into a business relationship with IProfessional it’s best to set up a call between IProfessional and the client to fully explain our service.  Many times we are able to ease the client’s concerns.

  • Do I have the freedom to move from contract to contract?

    Members have the freedom to change contracts as often as they like. As a contractor you will most likely move from one contract to another many times during your career. During these transitions IProfessional members enjoy the stability of one employer-of-record. No more lengthy startup packets, benefit and pension changes or resets to payroll taxes. Being a part of the IProfessional Team also makes it easier to market yourself to potential new clients.

  • Can I find my own clients?

    At IProfessional you are free to work with who you want, when you want and at the billing rate you want. Members find their own clients then run the contract through their Business unit at IProfessional.

  • Can I still work with staffing firms?

    You certainly can. While direct contracts with the client are more desirable to most contractors, the majority of contracts are sub-contracts where there is a staffing firm or recruiter between the client (end-user) and IProfessional. For many contractors working with staffing firms is the quickest way to secure their next project.

  • Will IProfessional help evaluate my contracts?

    No need to hire a lawyer to evaluate your contracts. IProfessional has countless hours of experience reviewing service agreements.  At no additional cost, we’ll evaluate all your direct and sub-contract agreements and point out clauses that may be unfavorable to yourself and IProfessional.

  • Can IProfessional offer solutions to help make my contract more balanced?

    With IProfessional’s experience reviewing and negotiating service agreements we can offer solutions to make your contracts more balanced and protect you over the course of the contract and after. As companies try to make contracts more one-sided in their favor it is good to have the vast industry knowledge of IProfessional looking out for your best interests.

  • Can IProfessional provide background information on my future customers like payment history?

    When starting a new contract you may have questions about your client. Questions that can only be answered through experience. With thousands of contracts under our belt IProfessional may have just the experience needed to provide helpful information about your new client. Knowing your client’s past contract terms or payment history can be very useful when negotiating your contract or projecting future cash flow.

  • Does IProfessional have existing relationships with fortune 1000 companies?

    It can be difficult for Independent Contractors to get on the vendor list of large companies. As a member of IProfessional you get to leverage our extensive business insurance and pre-existing relationships to secure that contract with a big client. IProfessional has many existing contracts with Fortune 1000 companies.

  • Can IProfessional help define billing rate trends?

    With members in many industries across twenty-three (23) states IProfressional has a front row seat to contract market trends. Let us share our knowledge with you.


  • Are we a good fit?

    IProfessional is designed for career professionals who have the confidence and technical skills to compete in the consulting marketplace. Our ideal candidate has a minimum billing rate of $60 per hour on a full time basis (our national average is $98 per hour). We also like to see an initial contract duration of at least 3 months.

  • Do I need to be incorporated to join IProfessional?

    Members do not need to be incorporated. The Business Unit is a substitute/alternative to you incorporating on your own. If you are already incorporated that’s okay, too. Since your revenue will now be flowing through your Business Unit at IProfessional you can inactivate your corporation or let it remain open for future use if needed.

  • As a member are my clients covered under IProfessional’s business insurance?

    Members greatly reduce personal liability. With IProfessional your clients are additionally insured by our suite of Business Insurances, which have the highest policy limits in the industry. Coverage includes General & Excess Liability, Professional (E&O) Liability, and Crime Bonding (Employee Dishonesty).

  • How do I sign up to be a member of IProfessional?

    Becoming a member of IProfessional is as easy as 1-2-3. 1. Obtaining a contract offer. 2. IProfessional will help guide you through the contract review and negotiation process. And 3. Completing the quick and easy IProfessional start up packet.  Along the way we’ll introduce you to all the benefits of membership and provide you with a detailed financial projection.

  • How do I communicate with IProfessional?

    Each member is assigned a Business Manager to be their single point of contact. Your Business Manager is there to assist you Monday through Friday, 9am to 5pm EST.

  • What contractual obligations do I have as member?

    During the membership start up process we will execute an Agreement for Employment between IProfessional and yourself. This agreement includes Indemnification, Non-Disclosure and Intellectual Property sections. Excluding any notice required to the client, members may terminate their agreement with IProfessional at any time.

  • Will my business manager help guide me through setting up my business unit?

    Your Business Manager will take you through the start-up process and help enroll you in the benefit programs you wish to participate in. From there your Business Manager will help you set up a payroll strategy, prepare you for expense reporting, communicate with your clients and review the online reporting tools with you. Your Business Manager is there to answer any questions you may have and help your Business Unit run smoothly.

  • Does my business manager have a backup incase they are out of the office?

    Whenever your Business Manager is out of the office there will be one or two other IProfessional Business Managers assigned to be your point of contact. All IProfessional managers are highly trained so you can rest assured your Business Unit is in good hands.

  • If I ever leave IProfessional is it easy to reactivate my business unit in the future?

    It is easy to join IProfessional and even easier to rejoin. If you disengage due to lack of work or take a position elsewhere you may return to IProfessional at a later date with minimal paperwork to update your Business Unit.

  • Are there any costs associated with leaving IProfessional?

    If there comes a time when you wish to disengage from IProfessional and inactivate your Business Unit there is a small pre-tax expense to the Business Unit. For those who have been a member for more than a year there is a maximum charge of $150.  This expense is used to cover the costs of inactivating the Business Unit, as well as, any year end Federal and State insurance adjustments.  If leaving within one year of the initial start date the charge can be as high as $500.

    Invoicing and Payroll

  • How do I submit my timesheets?

    We can easily adapt to your client’s time card system or you can submit an approved IProfessional timesheet.  Timesheets can be submitted to your Business Manager via email or fax.

  • How quickly does IProfessional generate an invoice after receiving my timesheet?

    It is always good to get invoices into the pipeline quickly. At IProfessional, invoices are created and sent to your client the same day your timesheet is received. In some cases when timesheets are submitted late in the day invoices might get sent the following morning.

  • Can I view outstanding invoices?

    IProfessional members can log on to their online reports at any time and view outstanding invoices. Members can see invoice details like invoice date, period ending date, invoice number and amount.

  • What happens if an invoice is overdue or skipped over?

    If an invoice goes past it’s due date, our internal system will notify your Business Manager.  They will then contact the client to inquire about the status of the invoice. Your Business Manager will work with your client to collect payment, so you can focus on the project at hand.

  • How do I know an invoice has been paid?

    Members can quickly get up-to-date with their receivables by viewing their online reports.  When payment from your client is received you’ll immediately see revenue distributed to your Business Unit and the available balance increase.  To see which invoice was paid a member would view their invoice history report.

  • Can IProfessional set up direct deposit with my clients?

    Yes, setting up direct deposit with most clients is quick and easy. Direct deposit is the fastest and safest way to receive payment from a client.  However, there are still a significant number of companies who still prefer mailing checks, but thankfully this is trending downward. Your Business Manager will connect with your client’s accounts payable department to inquire about direct deposit and if the option is available they will complete the necessary setup documents.

  • How often does IProfessional process payroll?

    Payroll is processed once a week on Thursday and members can expect to receive payment in their accounts the following Monday.  A member’s payroll is processed according to their strategy and available revenue.

  • What does the payroll process look like?

    Payroll is unique to each Business Unit. Each member works with their Business Manager to meet their own specific needs. Upon receipt of payment from the client your Business Manager will process payroll according to the payroll strategy the member has put into place.

  • Can my net payroll be deposited into multiple accounts?

    Yes, members may choose to have their payroll deposited into multiple accounts.  You can distribute a specific amount or percentage to up to six accounts.  To do so, just notify your Business Manager and the payment will be distributed accordingly.

  • Can I elect to change my payroll cycle?

    Payroll cycles may be changed at any time to fit the needs of the member.  In most cases your payroll cycle will correspond with the invoice cycle or with the amount of revenue received.  Your Business Manager is trained to determine the most appropriate cycle to match the member’s desired payroll amount.

  • What if the payroll date falls on a holiday?

    If pay day happens to fall on a bank holiday the payment will be received on the next business day.

    Pension/Retirement Plan

  • What is the difference between a Defined Benefit and Defined Contribution retirement plan?

    A defined benefit plan identifies the specific benefit that will be payable to you at retirement. Your basic retirement benefit is usually based on a formula that takes into account factors like the number of years a participant works for the employer (years of service) and the participant’s salary.

    A defined contribution plan specifies how much money will go into a retirement plan today. The amount typically is either a percentage of an employee’s salary or a specific dollar amount.

  • What type of plan does IProfessional have?

    IProfessional has a Defined Contribution retirement plan.  There are three parts to the program: Employee 401k, Company Safe Harbor Match and Discretionary Match.

  • Who is the pension administrator?

    Our plan administrator is Transamerica Retirement Services. Transamerica is a top provider of retirement plans with more than 70 years in the industry. Feel free to visit their website at

  • Can I roll existing retirement account balances into the IProfessional account?

    Members may roll existing retirement account balances into their IProfessional Transamerica retirement account during the start up process or at any point during their employment.  Many members will rollover existing account balances to leverage the investment opportunities made available through the Schwab PCRA.

  • Does IProfessional make company contributions to my retirement account?

    IProfessional’s two-tier retirement plan allows for generous company 401k matching contributions.  There are two different matching contributions giving members an extra boost towards reaching the Federal pension contribution limit.  The Safe Harbor Match is a 100% match on the first 6% of  employee 401k contributions.  The Discretionary Match is a 100% match on the first 4% of employee 401k contributions.

  • How often can I change my 401k-contribution percentage?

    Members may make changes to their 401k-contribution percentage at the beginning of each quarter: January, April, July and October. Making a change is as simple as contacting your Business Manager.

  • What are my investment options through Transamerica?

    Through your Transamerica retirement account you’ll be able to create an investment mix that is right for you. You can choose to allocate 100% of your contributions to one of four (4) Strategic Allocation Series funds or create your own investment portfolio by distributing funds among twenty five (25) different fund options.

  • Are my investment options limited to Transamerica?

    Certainly not, your investment options are close to limitless.  For members seeking more investment choices, flexibility and control then you’ll greatly benefit from the Schwab Personal Choice Retirement Account (PCRA).  The PCRA is a self-directed brokerage account that resides within IProfessional’s retirement plan.  By simply transferring your retirement funds from Transamerica to your PCRA via your online account you can invest in a much wider range of investments.

  • How often would my retirement account be funded?

    Both Employee 401k and Company Match contributions are funded to your Transamerica account within seven (7) business days after payroll.  Those participating in the Schwab Personal Choice Retirement Account (PCRA) will be able to transfer funds to the PCRA as soon as they arrive in Transamerica.

  • Are there loan options through the IProfessional retirement plan?

    Members may participate in the pension loan option through the Transamerica retirement plan. General loans have loan terms from one (1) to five (5) years.  Home loans have a minimum of a five (5) year term.  The loan amount can be up to 50% of the member’s pension account balance, but may not exceed $50,000. Monthly loan payments are then deducted from the member’s payroll.

  • When am I fully vested in company pension contributions?

    At IProfessional you are 100% vested from day one.

  • If I disengage from IProfessional can I rollover my account with Transamerica?

    Yes, if you become an inactive member you may rollover your Transamerica account balance to another qualified retirement account.  Members who rollover their pension account, then rejoin IProfessional at a later date will need to open up a new account.  Those who maintain the account when in inactive status can then rejoin and be all set to start making tax-differed contributions again.

    Pre-Tax Benefits

      Medical Insurance

    • What choices do I have for Medical Insurance?

      Members can participate in the company High-Deductible Medical plan through Independence Blue Cross or obtain coverage through a healthcare provider in the  private marketplace. The company medical plan has a two-month waiting period before coverage starts. No matter which option you choose there is a pre-tax advantage through the Business Unit.

    • Do I have to join the plan at the start of my employment or can I join at a later date?

      There is no pressure to enroll in the group medical plan at the start of employment.  Call IProfessional to learn more about all the pre-tax coverage options available to you.  For those who do not enroll in the group plan from the start, do have the ability to participate at a later date.  All members can join the plan during the annual open enrollment in July.  Members who experience a “Qualifying Event” can enroll in the plan at any time. The most common qualifying event is the lose of current medical coverage.

    • How much does it cost?

      The cost of the Group Medical insurance varies depending on the type of coverage you are seeking, whether it be single, family, employee and spouse or employee and child. If considering IProfessional membership and medical insurance plays a role in your decision process please call to receive further information on rates, plan details, as well as, the multiple pre-tax coverage options IProfessional members can participate in.

      Long Term Disability

    • What is Long Term Disability (LTD)?

      Long Term Disability (LTD) insurance insures an employee’s earned income against the risk that a disability creates a barrier for a worker to complete the core functions of their work.

    • Who provides the LTD Insurance?

      UNUM Life Insurance Company of America is the provider for the IProfessional Long Term Group Disability coverage.

    • What is the coverage for the Long Term Disability Plan?

      In the event that the employee should become disabled during their employment with IProfessional, the Long Term Disability Insurance will allow the disabled employee to collect 50% of their regular gross salary up to a monthly maximum of $7,500.  The employee must be disabled for 6 months prior to receiving benefits.

    • Am I eligible for this when I start my employment?

      There is a required six (6) month waiting period for those participating in the IProfessional Long Term Disability Insurance program.  Coverage begins on the first of the month following six (6) months of employment.

    • What is the cost of this benefit

      The premium for Long Term Disability Insurance is 0.4% of an employee’s gross salary, with a maximum of $720/year.

      Dental Insurance

    • What are the costs associated with the plan?

      The cost of the Group Dental insurance varies depending on the type of coverage you are seeking, whether it be single, family, employee and spouse or employee and child. If considering IProfessional membership and dental insurance plays a role in your decision process please call to receive further information on rates and plan details.

    • What company is the Dental Insurance with?

      IProfessional offers members Dental Insurance coverage through United Concordia.  The plan combines the freedom of a traditional dental plan with the economy of managed care.  To learn more about United Concordia please visit

      Child Care

    • What are the requirements for Child Care benefits?

      There are three requirements to meet in order to receive the Child Care Reimbursement: (1) Both parents must be full time workers or students. (2) The child must be 13 years old or younger. (3) Child care costs must be reported within the same year the cost was incurred.

    • How much can I claim per year?

      IProfessional will reimburse each employee up to $5,000 per year for Child Care Expenses.

    Pre-Tax Business Expense Accounts

  • What are some of the different types of business expense accounts?

    Here’s a list of categories IProfessional members use to report expenses through our online management system.

    • Meals and Entertainment
    • Business Travel
    • Mileage
    • General Business and Office Supplies
    • Marketing/Promotional
    • Computer and Office Equipment
    • Out-of-Pocket Medical
    • Insurance Premiums
    • Communications
    • Childcare
    • Postage
    • Publications/Subscriptions
    • Tuition/Training
    • Professional Association Dues
  • What is the difference between billable and non-billable expenses?

    Billable expenses are costs your client agrees to be billed for. Examples may be business travel, database connection fees and business supplies. Non-billable expenses are costs related to your work with IProfessional that the client is unwilling to reimburse. For most independents non-billable expenses will make up the large majority of their business expenses.

  • Can my business unit reimburse me for both billable and non-billable expenses?

    At IProfessional your Business Unit can easily handle both your billable and non-billable expenses. We will invoice the client for all billable expenses, as well as, process non-billable expense reports you submit to IProfessional. Our reimbursement program replaces the need to file a 1040 Schedule C or any other tax-reporting document you would face outside of IProfessional.

  • How do I submit expense reports?

    Each member has access to the IProfessional online expense management system.  Once logged in you’ll build your electronic expense reports with ease .  Members are encouraged to submit expense reports monthly. Submitting reports regularly helps members receive a consistent flow of pre-tax benefits. IRS guidelines require IProfessional members to submit expenses within a reasonable period of time; therefore, expenses should be reported within 90 days from the date the expense was incurred.

  • How often should I submit expense reports?

    Members are encouraged to submit expense reports monthly. Submitting reports regularly helps members receive a consistent flow of the pre-tax benefit. IRS guidelines require IProfessional members to submit expenses within a reasonable period of time; therefore, expenses should be reported within 90 days from the date the expense was incurred.

  • How are expenses reimbursed?

    Once expenses are reported to IProfessional our expense compliance team will review your report to ensure IRS guidelines are met. All approved expenses will then be processed and reimbursement via direct deposit to your bank account the same day as your next payroll.

  • Are receipts required to be submitted with all expenses?

    To meet IRS guidelines the majority of expenses will require proof of purchase to be accepted for reimbursement. The following are the four exceptions, which do not require receipts:

    • Travel expenses under $10.00
    • Meals &Entertainment expenses under $10.00
    • Mileage for business or medical purposes
    • Per Diem Lodging and Meals & Entertainment


  • Are my meals and entertainment expenses subject to the IRS 50% limit?

    In general, IRS and State tax authorities allow only 50% of business-related meal and entertainment (M&E) expenses to be deducted. IProfessoinal will reimburse you 100% of the eligible M&E expenses you incur. To accommodate for the 50% limit implications a 20% M&E tax allocation fee applies on all M&E reimbursements, which is paid for by the Business Unit.

  • What are the requirements to be eligible for per diems?

    IProfessional reimburses Per Diem lodging and meal expenses to members traveling at least 50 miles outside their current metropolitan area. Per diem reimbursements are paid according to IRS and IProfessional guidelines, which are listed in the IProfessional Expense Reimbursement Policy.  If you have a contract that requires you to travel well outside your metropolitan area please speak with an IProfessional representative to discuss the opportunity for Per Diem reimbursement.

    Management Fee Contribution

  • What is the management fee for IProfessional membership?

    The standard member management fee is the lowest in the industry. Contractors who’s membership is sponsored by an IProfessional Corporate Client may have a slightly different management fee.

  • How is the management fee calculated?

    The management fee is applied when time and expenses are billed to your client. When an invoice is created for your Business Unit a liability (the management fee) is generated.

  • When is the management fee paid?

    The service fee is paid when payment is received from the client. When payment is applied to your Business Unit invoice the liability is paid and, therefore, becomes an expense.