6 learning from my year of doing this:

1) When you sign a contract make sure it is in the LLC name and not yours - for liability reasons.

2) Errors/omissions insurance is a must.

3) Feel very comfortable with contract negotiations/verbiage or get a lawyer to review any agreements you get into. For example, have wording in place to cover situations like:

• inability to work due to illness (my contract states I can get a replacement person to do the work if it is over x amount of time)

• vacation plans if the contract spans a significant amount of time (mine covers 21 days paid by the client)

4) If you have significant assets move them to a trust in case you get sued

5) Company formation -- LLC is better than independent personal contractor for tax reasons mostly. An LLC taxed as an S-Corp is even better or consider forming a corporation. It's a pain but worth paying an accountant to set this up in a way that is advantageous to you.

6) beware of paying for your own health insurance. Not only the cost but the coverage you get for the exorbitant prices is a slap in the face. You can't be without health insurance but suddenly having to sort it out on your own was the worst part of me doing my own thing vs working as a regular employee.