Hiring Independent Contractors? Make Sure They’re Properly Classified

As a result of the coronavirus (COVID-19) crisis, your business may be hiring independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them [...]

By |2020-04-27T13:19:23-04:00April 27th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , |Comments Off on Hiring Independent Contractors? Make Sure They’re Properly Classified

Employee vs. Independent Contractor: How Should You Handle Worker Classification?

Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But the government is on the lookout for businesses that classify workers as independent contractors [...]

By |2019-10-18T16:01:56-04:00April 29th, 2019|Categories: Audit, Blog, Tax|Tags: , |Comments Off on Employee vs. Independent Contractor: How Should You Handle Worker Classification?

How to Reduce the Tax Risk of Using Independent Contractors

Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes [...]

By |2020-01-06T19:10:16-05:00September 4th, 2018|Categories: Blog, Small Business Services, Tax|Tags: |Comments Off on How to Reduce the Tax Risk of Using Independent Contractors