Article
3 min read
Author
Shannon Hodgen
Published
October 26, 2023
Last Update
July 08, 2024
Table of Contents
Flexible and compliant contract creation
Access to exclusive perks and discounts
Health insurance plans
Tax advice from local experts
An easy way to track business expenses
Simple invoice creation and distribution for any client
A community of contractors to connect with
Add Deel to your contractor toolkit today
Did you know you don’t have to be paid on Deel to use the platform as an independent contractor?
While Deel’s payment terms and methods offer enhanced flexibility and diversity for contractors, they’re only one part of the platform. All Deel contractors have access to a full suite of tools and features that can support them in their business operations, enabling them to benefit from Deel while being paid through their preferred channel.
Deel's platform offers a flexible solution for creating compliant contractor agreements, catering to the diverse needs of independent contractors and clients. There are three contract types available: Fixed Rate, Milestone, and Pay As You Go.
Fixed Rate payment contracts are straightforward agreements where a predetermined rate for the work is established. This agreed-upon amount is then disbursed consistently in each pay cycle, providing clarity and predictability to both parties.
The contract includes important details such as the frequency of payments and the exact date on which payments will be made. Deel provides the flexibility to modify payment terms based on mutual agreement between the parties involved.
See also: How To Create A Fixed Rate Contract On Deel
Deel offers the Milestone contract option for one-off or project-based engagements. Instead of relying on a lump sum payment upfront or upon project completion, payments are strategically tied to predefined goals.
Clients have the flexibility to structure payments according to their preference, either on a one-time or per-project basis, and can incorporate as many milestones as necessary.
This approach fosters a clear understanding of project progress and serves as a risk mitigation strategy by aligning compensation with tangible achievements throughout the project lifecycle.
See also: How To Create A Milestone Contract On Deel
Deel's Pay As You Go option offers a responsive and adaptable solution for scenarios where payment rates need to align with variable workloads or project scopes.
The process involves contractors submitting their hours through Deel for client approval. This approach allows for adjustments in invoices to account for bonuses, expenses, overtime, or other factors, ensuring fair and accurate compensation.
Clients, in turn, play an active role in the approval process, with the ability to review and approve submitted hours, add bonuses, and update hours through convenient CSV uploads.
Deel Perks provides contractors with a wide range of service discounts tailored for personal and professional development. These perks span various categories that are essential to independent contractors, including:
Deel has partnered with over 150 companies, including Carta, Headspace, DoorDash, Quickbooks, Canva, and many others, to bring you savings totaling $200,000 USD in value.
The perks are not limited to specific regions—they cover 150 countries and counting, ensuring that contractors worldwide can take advantage of these offers directly from the Deel platform.
See also: Contractor Benefits and Perks, Powered by Deel
Contractors are not eligible for group discounts on health insurance through their clients, as offering such a benefit may lead to worker misclassification risks for the clients.
However, Deel provides the option for contractors to purchase health insurance directly on the platform. Through its partnerships with SafetyWing, Plum, and HealthSherpa, Deel provides contractors with access to a range of comprehensive health insurance plans with exclusive discounts:
For remote workers and digital nomads, Deel's collaboration with SafetyWing brings you the Remote Health plan. This plan offers premium coverage in 175+ countries and a $0 USD deductible, covering:
Contractors in India can choose an insurance plan through Plum. This includes free doctor teleconsultations for all workers and their family members, free annual health checkups for all workers, and free dental consultations.
Coverage includes:
For US contractors, HealthSherpa is a fast and easy way to enroll in ACA/Marketplace health insurance. Coverage includes:
See also: How to Request a Health Insurance Quote as an Independent Contractor
Deel's Tax Advice Marketplace is designed exclusively for independent contractors to connect with tax professionals in their country of tax residence.
Each tax professional undergoes a rigorous onboarding process before joining the Marketplace. They must provide essential legal documents, such as:
To access this service, navigate to the Tax Advice tab on your home page. If you don't see the Tax Advice tab on your page, it means this service is not yet available in your country.
Once you've accessed the Tax Advice tab, you can book a video call with your assigned tax advisor. It's a straightforward process designed to address your specific queries and provide expert guidance.
Keep in mind that service costs vary by country and are charged in the local currency. Currently, tax advice is available for contractors who are tax residents in Canada, Colombia, Germany, Italy, Mexico, the Philippines, and the United Kingdom.
Deel's Expense Tracker for independent contractors helps streamline and simplify financial management. This tool offers a comprehensive solution for handling various aspects of your finances, including invoices, transactions, tax forms, and business expenses.
With the Expense Tracker, you can efficiently manage your work-related expenses by uploading receipts, categorizing expenses, and assigning them to specific clients. This functionality is particularly beneficial for tracking reimbursements accurately. With this Tracker, you not only save significant time on end-of-year bookkeeping but also enhance your visibility over spending.
By categorizing expenses and linking them to clients, you establish a clear and organized system that contributes to a more efficient and hassle-free financial management process.
Through the Deel platform, you can create, send, and store standardized invoices for clients who use Deel and clients who don’t.
With Deel, you don’t have to waste time creating invoices from scratch. Deel's Invoice Generator allows you to create invoices in minutes and save invoice details for future use. This feature is a game-changer for contractors with repeat clients, saving both time and effort.
Need to invoice a client who isn't on Deel? No problem. Our platform lets you manually create an External Invoice that you can send to any client, even those you collaborate with outside of Deel.
See also: How To Create Invoices For Clients That Do Not Pay Via Deel
Securely store all invoices in one place on the Deel platform. You can keep track of all invoices, whether they're from Deel clients or non-Deel clients, conveniently through the Invoices tab. This centralized storage not only ensures easy access but also simplifies the tax filing process.
See also: How to Invoice as an Independent Contractor [+ Template]
Deel's Community platform, introduced in 2023, is a valuable hub for independent contractors and remote workers. This online community serves as a dedicated space for global networking and knowledge-sharing among like-minded professionals.
Through regular meet-ups and webinars, contractors have the opportunity to engage with peers, collaborate, and grow. These events offer a chance to exchange experiences with other remote workers and digital nomads, enhancing the sense of community among Deel users.
Additionally, the community serves as an information hub, addressing questions and concerns related to all aspects of remote work. Whether you're looking for tips on how to use Deel, resources on immigration and visas, or something specific to your region, the community provides an all-in-one platform for open dialogue and mutual support.
With Deel, you can tailor your independent contracting toolkit to your unique needs.
Whether you get paid on-platform or off-platform, only use Deel for contracts, or use the entire suite of tools, Deel can help you increase efficiency, organization, and compliance in your business operations.
Sign up for Deel today to try it for yourself.
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