One of the best ways to keep costs low in a small business is to use contractors instead of hiring staff. But you have to be cautious. The IRS has rules you must follow to stay in compliance. To help you figure out whether you’re on the right side of the law, Business Intelligence has created a four step crash course that covers:
Step 1: Decide Whether You Need One. Learn what contractors can do for you and when it makes sense to hire one.
Step 2: Learn the Legal Definitions of Contractor and Employee. Know the law, so you don’t end up breaking it.
Step 3: Know the Risks of Misclassification. Avoid legal problems with the IRS and your workers.
Step 4: Take Advantage of IRS Amnesty. If you’re out of compliance, find out whether you qualify for tax relief.
Take a moment to run through the “How To Manage Independent Contractors” Course now.