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20 Cards in this Set
- Front
- Back
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The difference between independent contractors and employees in regards to taxes |
you don't file taxes for IC but you file and contribute SS and medicare for employees IC: file their own 1099-MISC Employees: you file their W-4 |
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The difference between independent contractors and employees in regards to keeping records |
IC: business cards and contracts Employees: General Personnel, I-9, Medical, Discipline, and Credit |
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The difference between independent contractors and employees in regards to worker's compensation |
IC: not covered Employees: covered |
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The difference between independent contractors and employees in regards to unemployment benefits |
IC: not entitled Employees: entitled (in most cases) |
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The difference between independent contractors and employees in regards to benefits |
IC: must negotiate in contract Employees: may offer PTO, vacations, retirement, and OT |
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The difference between independent contractors and employees in regards to termination |
IC: more grounds to fire Employee: more legally hazardous |
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The difference between independent contractors and employees in regards to pay rate |
IC: negotiable flat fee Employee: hourly or salary + benefits |
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The difference between independent contractors and employees in regards to laws |
IC: No OT, MW, or Benefits Employees: wages/hours, benefits, FMLA, Discrimination |
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The difference between independent contractors and employees in regards to negligence liability |
IC: not liable Employees: liable |
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The difference between independent contractors and employees in regards to workspace |
IC: flexible, remote, home Employees: your space, more control |
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IRS checks levels if control in these areas |
Behavioral, financial, and employee-employer relationship |
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Behavioral Control tests levels of control on... |
Instruction, training, suggestions, and business identity |
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Financial Control tests level of control on... |
significant investments, business expenses, advertising and visibility, method of pay, and profit or loss |
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Employee-Employer Relationship tests the levels of control on... |
written contracts, w-2/w-4 forms, incorporation benefits, discharge, permanency, required business activity |
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Check points(facts) of lesser importance |
hours, PT or FT status, location of work |
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(T/F) You can require an Independent Contractor to become and LLC to avoid misclassifying them. |
True |
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F&B Delivery drivers, Insurance agents, home workers, and business-to-business sales agents are automatically classified as ______________. |
employees |
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DOL |
Department of Labor |
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When hiring contractors you must: |
require that they provide their own tools, avoid reimbursement agreements, make offer to pay a flat rate, etc |
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The presumption is that you are an___________ unless proven otherwise. |
employee |
