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24 hours ago
This article discusses the advantages and disadvantages of hiring employees vs. independent contractors. Hiring Employees An employee is a person who works in the service of another person under an express or implied contract of hire, under which the employer has the right to control the details of work performance ( Black's Law Dictionary ).
31 hours ago
One of the biggest advantages of working as a contractor is greater flexibility in setting your own work schedule and place of work. Even full-time wage and salary workers say they benefit greatly from a flexible work schedule and often seek employers who offer this perk. According to a 2017-2018 survey, 36 million workers (25% of total ...
34 hours ago
Understanding Employee vs. Contractor Designation. The Internal Revenue Service reminds small businesses of the importance of understanding and correctly applying the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the relationship between it and the worker.
6 hours ago
Benefits. Employees vs. Independent Contractors: A Benefits Perspective. #Thomas M. White, Rimon PC. By Thomas M. White, Rimon PC April 3, 2012. Page Content. The Internal Revenue Code provides ...
2 hours ago
Contractor Pros and Cons. An agency contractor is someone who agrees to fulfill a pre-defined project for the agency's client in exchange for compensation. Generally, the individual is a W-2 hourly employee of the agency but is working onsite for the client. Paychecks and benefits will come from the agency.
6 hours ago
Hiring independent contractors as opposed to employees will save you money. Being an independent contractor instead of an employee will save you money. It's no wonder the IRS and Congress are dead-set against it. Well, maybe that's a little harsh. But the fact remains that there are a lot of benefits to hiring independent contractors […]
5 hours ago
The advantages of hiring independent contractors include: Saving on benefits and a salary as you are not required to pay these to a contractor, even if the pay per hour can be higher than an employee. You have a choice to work with the contractor if you want to or not, while it's not easy to fire an employee.
26 hours ago
Business Owners should always weigh carefully the pros and cons of hiring an Independent Contractor (IC) versus an Employee depending on the specific requirements and type of project. The length of time, skill requirements and labor law rules will often be the determining factor to make that decision.
14 hours ago
Employee vs Contractor: Everything You Need to Know. ... Classifying a worker as an independent contractor can save money and cost of benefits. For independent contractors, an employer only has to complete a form 1099 - MISC at the end of the tax year. It is crucial that all workers are properly classified.
19 hours ago
Another downside is that contractors might not get the same level of retirement benefits to go with the job. The pay can be good in the beginning but it can even out with time." The result is a short term attractiveness to work as a contractor for salary said Greiner, who regularly works with clients on security clearance related issues.