Independent Professional Services

• Private
• US

Dow Jones Description

The Independent Professional Umbrella Company concept spreading across the country today was the brainchild of Michael O'Connor in 1986. In that year the United States Congress passed the 1986 Tax Reform Act. Embedded in this voluminous document was an obscure and ambiguous piece of legislation titled Section 1706. This new section singled out Independent Professionals, and the companies that hire them, for tax punishment. At the time, Michael O'Connor, was an Independent Professional working in New York City. Without any public debate, Congress, with the support of special interest groups, fundamentally altered the business landscape for hundreds of thousands (and soon millions) of Independent Professionals. Believing that Independent's were unfairly singled out, Michael set out on a mission to neutralize the negative effects of Section 1706. His solution was to create a unique and revolutionary environment that would return to Independent Professionals the freedom and flexibility Congress and special interest groups stripped away. It took many years to convince a bewildered public and business community that a company could survive and prosper with a customer base consisting solely of its own employees. But eventually the concept caught on. His success story became the model that is copied by all other umbrella companies in the United States today. ...

Owner

Number of Employees 174

Contact Information

Peer Companies

• VCA Antech Inc.
• Akamai Technologies Inc.
• ExlService Holdings Inc.
• AsiaInfo Holdings Inc.
• Online Resources Corp.
• All Companies