what are the advantages for employees of claiming that someone doing work for them is an independent contractor rather than an employer what generally makes a worker classified as an "independent contractor"?
An independent contractor is a person or entity contracted to perform work or provide services to another entity as a non employee. As a result, independent contractors must pay their own Social Security and Medicare taxes. Another term for an independent contractor is a freelancer.When a worker is an independent contractor, the employer can control only the quality or result of the job not the method through which the work is done. Independent contractors need to pay for all the benefits on their own, such as social security, medical benefits, etc. They do not have access to unemployment insurance or worker compensation payments as well. All these factors classify an independent contractor and differentiates them from an employee.
The benefits for the employers to claim that some one doing work for them is an independent contractor rather than an employee are as below:
1. For the independent contractor the employer does not have to withhold income tax, Social Security, and Medicare from wages paid, which is generally done for an employee.
2. The Employers do not have to bother about the Employment and labor laws as they do not apply to independent contractor.
3. The employer need not need to monitor the method in which the job is being done as long as the output is received.
4. The hiring procedure is also simple as compared to hiring an employee.
What are the advantages for employees of claiming that someone doing work for them is an independ...
independent contractor under the longstanding "common law test" is a. the location of the work. b. the amount of money the worker makes. c. the right of the employer to control, how, where and when the work 14. The main factor in determining if a worker is an employee or an gets done. whether the worker is a member of a labor union. A work visa is not required for a foreign national to work in the U.S. if a....
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Many small businesses have to squeeze down costs any way they can just to survive. One way many businesses do this is by hiring workers as “independent contractors” rather than as regular employees. Unlike rules for regular employees, a business does not have to pay Social Security (FICA) taxes and unemployment insurance payments for independent contractors. Similarly, it does not have to withhold federal, state, or local income taxes or the employee’s share of FICA taxes. The IRS has a...
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