In quickly changing times, a continuous upgrading of products and services is often the key to survival. There are numerous examples of companies that failed to heed the law of nature — adapt or perish — and expired. We all can cite examples of businesses that didn’t stay ahead of the curve and are no [...]
When keeping employee records, you don’t want to clutter up your files with old papers or terabytes of meaningless data. However, there are some documents (paper and digital) you should store in a safe place for protection should you ever face an independent contractor (IC) misclassification challenge. There are numerous incidents that can trigger an [...]
A recent article cited a survey of more than 1,400 CFOs from U.S. companies that have twenty or more employees on staff. The CFOs were asked: “What common mistake do companies make most in managing their employees?” Here are the three top responses: • Lack of communication between staff and management • Lack of recognition [...]
What can you say to consultants who don’t qualify as independent contractors (ICs) but insist on being treated as such? This has always been a sticky problem. The consultant insists on being classified as an IC and s/he is the very best choice for your project; however, the project or the consultant simply does not [...]
The Internal Revenue Service (IRS) recently released its new tax gap estimates. The tax gap can be defined as the amount of tax liability that is not paid on time for any reason. The estimated annual amount increased from $345 billion in 2001 to $450 billion in 2006, and a significant portion of the gap [...]
It’s time to file taxes, and there are special advantages and special requirements if you’re an independent contractor (IC). An IC is a small business by definition, and as a small business enjoys tax breaks in the form of deductions for expenses employees do not. ICs are entitled to most of the same deductions larger [...]
Most enforcement agencies consider training an individual on the job as proof that a consultant or independent contractor (IC) is working as an employee. When you train someone in the workplace, you are instructing them on the details of how you expect them to do the job. In fact, a major piece of evidence against [...]
The U.S. Department of Labor (DOL), working with some state employment agencies, is offering training that provides “dislocated workers the opportunity for early re-employment” through self-employment. This means that if someone has lost his/her job and wants to create a small business, there is a federal program than can help. The Self-Employment Assistance Program will [...]
In quickly changing times, a continuous upgrading of products and services is often the key to survival. There are numerous examples of companies that failed to heed the law of nature — adapt or perish — and expired. We all can cite examples of businesses that didn’t stay ahead of the curve and are no [...]
Today, there are more government tax auditors, larger penalties, and a greater probability of being selected for examination than ever before. This makes it more important than ever that you protect your company from the increasing probability of a misclassification audit, a challenge from a labor law agency or even a civil suit from a [...]
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