The Difference Between Sub-Contractors and Employees

The Difference Between Sub-Contractors and Employees

There are facts and circumstances most commonly used to determine the difference between an employee and sub-contractor. It’s a 3 part subjective analysis and some facts may indicate that a ‘worker’ is an employee, while other factors indicate that the worker is actually a sub-contractor.

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7 Deadly Outcomes of Treating Employees as Sub-Contractors

7 Deadly Outcomes of Treating Employees as Sub-Contractors

The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.

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Rules for Foreigners Investing in Rental Property in the U.S.

Rules for Foreigners Investing in Rental Property in the U.S.

The U.S. tax rules that apply to ownership and dispositions of U.S. real estate by foreign persons are different in some important respects from the rules that apply to U.S. persons. Also, property managers are under special rules when managing property for foreign owners, and sellers to foreign investors can be classified as withholding agents (which have important obligations and liabilities associated with the classification).

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How Much Money Should I Send in with My July 15th Extension?

How Much Money Should I Send in with My July 15th Extension?

No one wants to pay extra penalties for not making a deposit with the IRS. So I want to give you a few tips to make sure you understand the rules when it comes to filing a personal extension. Remember an Extension is NOT an “extension” to pay any taxes you may owe, but an “extension” to file.

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Building a Personal 10-Year Plan

Building a Personal 10-Year Plan

Young or old, stable or in transition, starting a new business, or trying to find an exit strategy for a mature business, building a 10-year plan can give you a significant edge in living a happier and more fulfilling life. More specifically, for a business owner it...

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Self-Employed with No Employees? – How to still get the PPP Loan

Self-Employed with No Employees? – How to still get the PPP Loan

Regrettably, in the early weeks of the Stimulus plan, some banks anxious to help their customers would allow sole proprietors to apply with a simple 1099, or a profit and loss statement, or even a 2018 tax return. If any of these situations occurred to you, and ultimately received a PPP loan based on this information, it’s important you get professional advice immediately on how to move forward in the forgiveness stage and subsequent application.

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Ongoing Changes to the Federal Stimulus & 10 Legitimate Strategies for Business Owners

Ongoing Changes to the Federal Stimulus & 10 Legitimate Strategies for Business Owners

There are 10 key pieces of the legislation that can assist business owners in one form or another. Also, realize that the definition of a ‘small business owner’ encompasses a lot of people, including you. This means sole proprietors, LLC owners, S-Corp owner/shareholders, those with employees, those without, and remember this includes the ‘gig economy’ as it’s termed such as uber drivers and those selling on the web with a side hustle!

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