Tag Archives: independent contractors

Contractor or Employee? The Rules for Classifying Workers

The difference matters – a lot. Be sure you’re using the correct classifications for your staff. Employees. Contractors. They both create and support products or provide services for your customers. They’re your company’s most valuable assets. But the IRS looks … Continue reading

Posted in Business, business help, Business Owner, guide, Uncategorized | Tagged , , , , , , | Leave a comment

Contractor or Employee? How the Income Tax Obligations Differ

It’s a very important distinction, and one that can get you in hot water if you misclassify workers. Full-time employees of companies often look at independent contractors with envy. They can generally work whatever hours they want. They can sit … Continue reading

Posted in Business, IRS Articles, Operational Accounting, Payroll, Tax, Tax Fraud | Tagged , , , , , , , , , , | Leave a comment

Classify workers properly

Don’t subject your business to tax penalties by misclassifying an employee as an independent contractor. The IRS is aware that employers prefer to treat workers as independent contractors to avoid paying fringe benefits and payroll taxes. If you’re not absolutely … Continue reading

Posted in Business, Employee Benefits, Financial Planning, IRS Articles, New Business, Operational Accounting, Payroll, Tax, Tax Fraud | Tagged , , , , , , , , , | Leave a comment

Who owes self-employment tax?

If you earned $400 or more of net profit during 2013 from work as a sole proprietor or independent contractor, you may owe self-employment tax. That’s true no matter what your age – even if you’re receiving social security benefits. … Continue reading

Posted in Business, Employee Benefits, Financial Planning, Tax | Tagged , , , , , , | Leave a comment

Get organized for 1099 filing

January is always a busy month for companies. You’re trying to get business off to a good start in the new year, you’re trying to close the books on last year, and there’s 1099 reporting to complete by month-end. There … Continue reading

Posted in Business, IRS Articles, New Business, Operational Accounting, Tax | Tagged , , , , , , , , , , , , , , , | Leave a comment