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6 Cards in this Set

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independent contractor
employee does not have the right to control the details of a worker's performance. if earned more than $600, then file 1099 and pay self-employment tax
employee
withheld tax (fed,state, SS)and fed,state unemployment. Paid compensationa nd disability insurance
IRS Code Sect 3508 (a)(b)
There must be a written contract between the broker and sales associate stating that the licensee will not be "treated as an employee for federal tax purposes"
1986 NY Ind Contractor Law
Contract cannot be signed under duress
DOS Regulation 175.21
Broker must supervise agents
DOS Regulation 175.23
Maintain records for 3(6)yrs: net comm, disposition of all payments, W2, tax returns, deeds, HUD1, List of checks, Attendence at closing