Sunday, October 11, 2009

Considering Independent Contractors

Employers faced with cost reduction and/or downsizing may find help using independent contractors rather than carrying employees on their payroll. They reduce their tax and benefit liabilities by using contractors legally and effectively. Before taking this tack, it's important to educate yourself. The IRS and DOL have regulations they are famous for sticking to! Don't get on their radar by making questionable employee classifications. Here are two excellent resources to get you started:

Help from SCORE

Contractor vs Employee

MyTimeCards accurately tracks classification and employee or contractor hours by job and client.

Accruals Screen

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