Category Archives: independent contractor
How to Avoid the Wrath of the IRS
One of the most controversial grey areas of tax law is the “independent contractor vs employee” issue. Most small businesses hire workers to perform services, i.e. outsourcing. Is the person you hire an employee or an independent contractor? Does it … Continue reading
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Tagged independent contractor vs. employee, IRS
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Small Business Tax Deductions: How Do You Know If You Are Self-Employed?
When it comes to the employee vs. self-employed issue, are you unsure of your tax status with the IRS? This is a critical question and one that you must answer before filing your next income tax return. There could be … Continue reading
Small Business Tax Deductions: How Does A Sole Proprietor Get Paid?
If you are a sole proprietor, are you wondering how to compensate yourself? This article will answer that question. By sole proprietor, we’re talking about the self-employed person who reports his or her small business on Schedule C. This also … Continue reading
Self-Employed Tax Questions: How Does Freelance Income Affect Your Taxes?
Do you make money as a freelancer? Whether you make a living as a full-time freelancer or just do it part-time, what are the tax consequences of this income? This article will answer that question. For tax purposes, a freelancer … Continue reading
Self-Employed Tax Questions: How Is Freelance Income Taxed?
As a freelancer, you must realize that you may incur federal and state taxes on your freelance income. This article will help you sort out the possible tax consequences of making money as a freelancer or independent contractor. First, you … Continue reading
Small Business Tax Questions – Does It Matter Whether You Give Your Workers A W-2 or A 1099-MISC?
Do you own a small business and pay workers to perform services for you? If so, are you wondering whether to give them a W-2 or a 1099-MISC? Read on to find out. The short answer to this question is … Continue reading
Posted in Form 1099-Misc, independent contractor, IRS, tax questions
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W2 vs 1099 – Does It Matter?
Do you own a small business and pay workers to perform services for you? If so, are you wondering whether it matters whether you give them a W-2 or a 1099-MISC? Read on to find out. The short answer to this question … Continue reading
Posted in Form 1099-Misc, independent contractor
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Year-End Payroll Forms: What Are W2’s and 1099’s?
Any business that has employees and/or independent contractors must end the year with another small mountain of paperwork to climb. Let’s talk about what forms you must file once the year is over. I call these “payroll information forms” or … Continue reading
Did You Forget To Send Out 1099s By January 31?
Are you a small business owner who hires independent contractors? If so, you may be required by the IRS to send out a Form 1099-MISC to those people. This post will help you determine your obligation to issue those 1099’s. … Continue reading