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Employee or Independent Contractor

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$7.97

Determine the correct classification of workers as either employees or independent contractors to ensure compliance and avoid potential penalties. This guide provides essential information on the factors used to classify workers, including behavioral and financial control, and the type of relationship. Understand the tax responsibilities for both classifications and the potential consequences of misclassification.

 

Highlights:

 

• Classification Criteria: Overview of behavioral and financial control factors that distinguish employees from independent contractors.

• Tax Implications: Understand the employer’s responsibilities for withholding and remitting taxes for employees versus issuing Form 1099-NEC for independent contractors.

• Penalties for Misclassification: Risks and penalties associated with misclassifying workers, including back taxes and fines.

• Real-World Examples: Illustrative scenarios to clarify the classification process.

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