Hiring Independent Contractors: The Employer's Legal Guideby Stephen Fishman, Amy Delpo
But the rules about who qualifies are complicated, and the IRS and state revenue agencies keep a close eye on businesses that hire independent contractors. Misclassifying a worker can result in serious financial penalties
Using independent contractors can save you a bundle in payroll taxes, health insurance costs, workers' compensation premiums and overtime pay.
But the rules about who qualifies are complicated, and the IRS and state revenue agencies keep a close eye on businesses that hire independent contractors. Misclassifying a worker can result in serious financial penalties in a state or federal audit.
Now for the first time in decades, the IRS has made the rules about hiring independent contractors a lot simpler. New IRS rules make it easier for employers to prove that a worker is an independent contractor; they also allow employers that have misclassified workers to pay reduced assessments and penaltiesor avoid them altogether.
Hiring Independent Contractors reflects these important IRS changes and shows employers how to:
* assess who qualifies as an independent contractor
* hire ICs without risking an audit
* retain ownership of intellectual property when using ICs
* handle an IRS audit
* take advantage of the IRS's ""Safe Harbor"" law
All independent contractor agreements are included on disk and as tear-outs.
- Publication date:
- Edition description:
- 4TH BK&CDR
- Product dimensions:
- 8.44(w) x 10.82(h) x 0.64(d)
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