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6 Cards in this Set
- Front
- Back
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independent contractor
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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
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employee
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withheld tax (fed,state, SS)and fed,state unemployment. Paid compensationa nd disability insurance
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IRS Code Sect 3508 (a)(b)
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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"
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1986 NY Ind Contractor Law
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Contract cannot be signed under duress
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DOS Regulation 175.21
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Broker must supervise agents
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DOS Regulation 175.23
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Maintain records for 3(6)yrs: net comm, disposition of all payments, W2, tax returns, deeds, HUD1, List of checks, Attendence at closing
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