When you pay an independent contractor, you don’t withhold taxes from their wages … or do you? In some cases, contractor wages are subject to backup withholding. So, what is backup withholding, and when do you need to do it?Read More Back it Up … What Is Backup Withholding, and Are My Contractors Subject to it?
Does your business hire independent contractors, gig workers, or freelancers? If so, congratulations—you get to learn the ins and outs of IRS Form W-9! So, what’s the scoop with the IRS W-9 form? What exactly is it used for? Who needs to fill one out? We have the answers to all of your burning questions […]Read More IRS Form W-9: 5 Burning Questions, Answered
Here’s a payroll question: How do you differentiate between employees and independent contractors? It all depends on the relationship between the employer and the worker.Read More Independent Contractor vs. Employee Classification
Taking on an independent contractor is different than hiring an employee. There are differences in the forms you must gather, wage reporting, and how you pay contractors vs. employees. So, how do you run contractor payroll if it’s different from paying employees? Read on to learn the answer to that question and more.Read More Running Contractor Payroll the Right Way
Businesses that contract out work in New York have a new law to put on their radar: The New York independent contractor law. But, what is the new law? What businesses are impacted by the new law, and how? Keep reading to get the scoop on the New York independent contractor law.Read More New York Independent Contractor Law Gets a Big Update
Do you have freelancers or contractors working for you? Is your labor force full of short-term contracts? You might be working in a gig economy with gig workers. If so, you need to know the laws for hiring gig workers. Keep reading to learn more about the gig economy.Read More What is the Gig Economy, and Who are Gig Workers?
When you own a business, you may need to hire an extra helping hand, like a vendor or contractor, to get a job done. And when you pay an independent contractor or vendor, you may be responsible (depending on how much you paid them during the year) for distributing and filing either Form 1099-NEC or […]Read More The Ins and Outs of E-Filing 1099s With the IRS
Worker classification can be ambiguous and confusing. Classify your workers as independent contractors when they’re actually employees, and you’ll get hit with penalties. That’s why it’s important to stay up-to-date with the latest independent contractor guidelines … like the withdrawal of the 2021 new DOL rule.Read More What the Biden Administration Means for the New DOL Rule on Contractors
Did you make payments to independent contractors during the year? If so, you must use Form 1099-NEC. For accurate reporting of contractor payments, learn how to fill out a 1099-NEC.Read More How to Fill Out a 1099-NEC
Before 2020, business owners used one universal form—Form 1099-MISC—to report nonemployee compensation and other types of payments (e.g., rent). But after a 38-year absence, Form 1099-NEC made a return in 2020. So, how do these forms differ? Read on to learn all about Form 1099-MISC vs. 1099-NEC and which form you need to use.Read More What’re the Differences Between Form 1099-MISC vs. 1099-NEC?