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The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
It is not enough to only classify a worker as an "independent contractor" in their contract, they also need to actually be treated as an independent contractor. Archived 2022-03-16 at the Wayback Machine. Service sector employees are more likely than others to be misclassified as independent contractors.
Key Tax Forms for Independent Contractors Like most employees, the taxes for an independent contractor are typically due on April 15 of each year. The independent contractor files a Form 1040 ...
There are some advantages to being an independent contractor, but most people labeled as contractors are really employees. Here are the top 11 things you need to know before (or even after) you ...
An independent contractor is in business for him or herself providing services to other businesses and does not work for or under an outside authority. Independent contractors are contracted on a temporary basis and paid at the completion of a project upon which their contract will be terminated.
With jobs scarce and money tight these days, the prospect of working as an "Independent contractor," and getting a full paycheck with no big bites taken out for taxes and other obligatory expenses ...
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