Do you hire independent contractors to help with business tasks? Are you sure those workers are independent contractors — or should you be treating them as employees? (more…)
Posts Tagged ‘independent contractors’
Tax Tip Tuesday! Income Tax Rules Affect Your Web Business
Did you start an online business in 2011? If so, you might have income and expenses that affect your federal income tax return. (more…)
Tax Tip Tuesday! Some Income Isn’t Subject To Payroll Taxes
You’ve probably heard that the IRS has undertaken a new initiative to make sure workers are properly classified as either independent contractors or employees. At issue is the collection of payroll taxes, including FICA taxes (social security and Medicare), which are generally required to be withheld from wages by law. (more…)
Tax Tip Tuesday! Pay Employees For Riding Bikes To Work
Bicycles may well be the vehicles of novelists and poets, as stated by journalist Christopher Morley. But these days bicycles are also the vehicles of commuters — and if they’re the vehicles of commuters who work in your business, you can offer a nontaxable fringe benefit of up to $20 per month. (more…)
Hiring Temporary Staff Can Be A Smart Business Move
With uncertainty still a major business concern, many companies are tiptoeing back into the employment market by hiring temporary workers. According to the Bureau of Labor Statistics, the number of temporary employees — including independent contractors, on-call candidates, freelancers, and other temporary or part-time workers — exceeds two million people in the United States. The skills of such workers often extend far beyond traditional clerk and bookkeeping roles. For example, temporary employees might include chief financial officers, nurses, lawyers, accountants, information technology professionals, manufacturing technicians, and retail staff. (more…)
Tuesday Tax Tip: Information Reporting Rules Don’t Change for 2010
You’ve probably been hearing about changes to Forms 1099 for purchases of goods, payments to corporations, real estate rentals, and credit card transactions. (more…)
