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Per the IRS website, the general rule is that “an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done."
Are you classifying any contractors you use properly? Incorrectly classifying employees as contractors can lead to hefty penalties and fines. Check out this guide to protect your business. We are heading into the time of year to finalize preparations for the upcoming tax season. |
For help managing the reporting for and documenting of independent contractors or to select a payroll service for individuals who should be categorized as employees, please schedule a complimentary consultation to review your needs. We'd be happy to help!
This is general information and should not be acted upon without first determining its application to your specific situation. Please contact us, your CPA or tax adviser for additional details.
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