Are You Planning On Outsourcing Your Content?
Are you planning on outsourcing your content?
This is how the Small Business Administration distinguished between employees vs. independent contractors and how it can impact our bottom line, as this affects how we withhold taxes and avoid costly legal consequences.
When we learn the differences we will be prepared.
When we outsource to an independent contractor they operates under a separate (their own) business name from our company and invoices for the work they completed. At times an legally an Independent contractors can sometimes qualify as an employees. Be sure to understand how that is possible. Do you really have a personal assistant or a virtual assistant?
Click here to find out how > The Equal Employment Opportunity Commission created a guide for making the determination.
If our contractor meet the legal definition of employee, we may need to pay back taxes and penalties, provide benefits, and reimburse for wages stipulated under the Fair Labor Standards Act.
However, as an independant contractors we pay our own overheads.