Alert: The IRS just released more guidance on Sec. 530 relief. In determining whether an individual is treated as an employee, in addition to the … Read more about Section 530 Explained and What You Need To Do
Ramifications of Doing Gig Work and Side Hustles
Gig work is temporary or freelance work performed by an independent contractor on an informal or on-demand basis. Side hustles are work performed for … Read more about Ramifications of Doing Gig Work and Side Hustles
Employment Taxes: 4 Problems with Solutions
If your business has employees—including yourself—there are employment tax obligations imposed on the company (the “employer”) by the federal … Read more about Employment Taxes: 4 Problems with Solutions
Reporting Payments to Independent Contractors: 5 Things to Know
If you engage independent contractors and pay them in the aggregate $600 or more during the year, you must report payments to them and to the IRS. In … Read more about Reporting Payments to Independent Contractors: 5 Things to Know
Sole Proprietorships: The Numbers Are Up
Each year the IRS releases statistics on various types of business entities, and most recently it released the latest statistics on sole … Read more about Sole Proprietorships: The Numbers Are Up
Roundup of COVID-19-Related Breaks for Self-Employed Individuals
Much of the government relief provided to small businesses was keyed toward their employees. They could qualify for the SBA’s EIDL grant of $1,000 per … Read more about Roundup of COVID-19-Related Breaks for Self-Employed Individuals
Worker Status and Changing Times
The pandemic has highlighted, but did not create, a growing diversity of worker status. There are a variety of employee types, from at-will hourly … Read more about Worker Status and Changing Times
Worker Classification: Where We Stand Now
As a business owner, you may want to use independent contractors for various work you need to get done. It’s less costly than hiring employees. And … Read more about Worker Classification: Where We Stand Now
Looking Ahead at Taxes for Self-Employed Individuals
Self-employed individuals Self-employed individuals are sole proprietors, independent contractors, partners, and members of limited liability … Read more about Looking Ahead at Taxes for Self-Employed Individuals
Sole Proprietorships Continue to Increase in Numbers
Each year the IRS releases statistics on various types of business entities, and looking at the numbers tells an interesting story. The last time the … Read more about Sole Proprietorships Continue to Increase in Numbers
How the DOL Views Workers in a Virtual Marketplace Company
One of the big questions that companies need to answer is whether a worker is an employee or independent contractor. The answer is complicated when … Read more about How the DOL Views Workers in a Virtual Marketplace Company
Data Prep for Your W-2s and 1099s
The deadline for furnishing employees and independent contractors with their annual information returns and submit copies to the Social Security … Read more about Data Prep for Your W-2s and 1099s
The Gig Economy and Its Impact on Your Company
There is an estimated 54 to 68 million Americans — 20% to 30% of the working population — now working “on-demand” as contractors and freelancers, … Read more about The Gig Economy and Its Impact on Your Company
Worker Misclassification: How to Beat the IRS
One of the hottest issues with the IRS continues to be worker classification. Businesses may treat workers as independent contractors while the IRS … Read more about Worker Misclassification: How to Beat the IRS
Sole Proprietorships: A Tax Perspective
Follow @BarbaraWeltman IRS statistics help to paint a picture of sole proprietorships in the U.S. and makes for interesting reading. Following a … Read more about Sole Proprietorships: A Tax Perspective
