Signing up is FREE! It costs $0 to register for an Independent Contractor account on Work For Impact!
It doesn’t come with any additional cost except for the service fee that is deducted from the independent contractor's earnings, as explained below.
Service Fees
Work For Impact deducts a service fee of 12% from the independent contractor's earnings up to a total of $10,000.00 per client. Once that earnings threshold is reached for a particular client, the fee is reduced to 7%.
This fee structure applies to all job types - Per-hour jobs or Fixed-price Jobs. See the sample calculation below:
Example 1 - Per Hour Job
Independent Contractor-1 (IC-1) was hired by Client-A as a Customer Support Agent with a rate of $10/hour at 40 hours/week. To be able to meet the threshold of $10,000, IC-1 will have to work for at least 25 weeks. All the earnings during this period are charged 12%.
If the IC-1 works for Client-A for a longer term, her earnings from Week 26 onwards will be charged a 7% service fee only.
- At $10/hr. x 40 hours/week = $400
- $400 x 12% = $48
- Net earnings of IC-1 for Week 1 up to Week 25 is $352
- At Week 26, $10/hr. x 40 hours = $400 is charged 7%
- $400 x 7% = $28
- Net earnings of IC-1 from Week 26 onwards is $$372
Example 2 - Fixed Price Job:
IC-1 worked with Client-A for the first time on a website development project that cost $5,000.
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- The total cost of $5000 is below the $10,000 threshold; thus this earning will have a service of 12% deduction.
- $5000 x 12% = $600
- Net earnings of IC-1 is $4,400
- Client-A had another project. He contracted IC-1 again to build an App. Total project cost: $6000
- Client-A is a repeat client.
- New project cost of $6000 brings the total earnings of IC-1 from Client-A above the threshold
- The fee will be calculated as follows:
- $5000 x 12% = $600
- $1000 x 7% = $70
- The total service to be deducted is $670, and the net earning of IC-1 from the 2nd contract is $5,330.