Independent Contractors: Cutting Costs, Empowering Workers

Many business owners today are looking for ways to decrease the cost of their workforce. The rising cost of payroll taxes, retirement plans and other benefits, along with the advent of Obamacare, have potential employers looking for ways to minimize overhead while still being able to attract and retain talented workers. One increasingly popular option is to hire independent contractors …

Independent Contractors/Employees Latest News from the Internal Revenue Service

As a business owner, how do you classify the people who work for you? Are they independent contractors or employees? The classification is important and can be scrutinized by the Internal Revenue Service (IRS) and others. The distinction between an employee and an independent contractor is important for several reasons. The following are a few areas of importance: Impacts tax …