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plus size wedding dress
Topic review
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ekcjkg692t
Posted: Wed 8:34, 14 Aug 2013
Post subject: hollister outlet Small Business Basics Distinguis
Nicole Newman is passionate about seeing businesses grow using technology tools that increase productivity. The digital divide is separating the United States into two communities: technology-savvy and technology-illiterate. With a Temple University bachelor's degree in Management Information Systems, she is armed with solutions.
Usually small
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business owners would rather hire contractors than deal with the paperwork and added expense of employees. A contractor affords the business flexibility
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that a normal employee - employer relationship does not have. Contractors get paid by the hour or by the job and are not given employee benefits. Employees, on the other hand, have to have certain
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mandated taxes
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withheld and usually are given benefits
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(health insurance, unemployment, retirement plan etc.) that make hiring employees expensive as compared to contractors. From
www.irs.gov,
"The IRS uses three characteristics to determine the relationship between businesses and workers:
1. Behavioral Control covers facts that show
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whether the business has a right to direct or control how the work is done through instructions, training or other means.
2. Financial Control covers facts that show whether the business has a right to direct or control the financial and business aspects of the worker's job.
3. Type of Relationship factor relates to how the workers and the business owner perceive their relationship.
If you have the right to control or direct not only what is to be done, but also how it is to be done, then your workers are most likely employees. If
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you can direct or control only the result of the work done -- and not the means and methods of accomplishing the result -- then your workers are probably independent contractors."
In these times, it is beneficial for the worker to also want to be an independent contractor. Employers usually ask "workers" to sign a contract specifying the type of relationship
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so all employment is at -will (except, of course, the unions.) The United States government tax system is designed in
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favor of business. If a person receives a 1099 (given to contractors for tax reporting purposes), alot of daily living becomes a write-off lowering the tax liability (which makes filing taxes a win especially for those who are eligible for the earned income credit). The commute to said "job" location is now deductible, the health insurance co-pays are now deductible, some lunches (i.e meeting a client at Manakeesh Cafe in University city, for example) are now meals and expenses and any activity where a potential client might be is now a marketing expense!
With the help
barbour uk
of a system like freshbooks, all these deductible expenses can now be managed in a FREE software as a service accounting system.
Did you know -- Both employers and workers can ask the IRS to make a determination on whether a specific individual is an independent contractor or an employee by filing
hollister
a Form SS-8, Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding, with the IRS.
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Happy filing!!!
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