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.
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What is the Gig Economy, and Who are Gig Workers?
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.
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What the Biden Administration Means for the 2021 New DOL Rule on Contractors
January 10, 2024 update: The Department of Labor published a new rule officially rescinding the 2021 contractor rule. Under the DOL contractor rule 2024, employers must again use the six-part test to determine whether a worker is an employee or contractor. Worker classification can be ambiguous and confusing. Classify your workers as independent contractors when […]
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How to Fill Out a 1099-NEC: Your Complete Guide
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.
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What’re the Differences Between Form 1099-MISC vs. 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.
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Form 1099-NEC for Reporting Contractor Payments
After a 38-year absence, Form 1099-NEC made its return in the 2020 tax year. For the last few decades, business owners were responsible for using Form 1099-MISC to report nonemployee compensation. But with Form 1099-NEC, employers can say hello to a revamped form and goodbye to reporting nonemployee compensation on Form 1099-MISC.
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