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Without a correct well-planned marketing strategy you may spend a lot of your valuable time, money and energy either attracting few customers or worse yet the wrong customer.
How do you currently, let your customer and potential customer know about the benefits of doing business with you?
Without a profit strategy you’ll soon be without a business.
Not because they do not have a good product.
Not because the owners are not knowledgeable and skilled in their industry.
Do you have a growth strategy for achieving the success in your business you desire?
Would you describe you strategy as one of “Working longer and Harder until you make it”.
It is not unusual for entrepreneurs to go into business filled with enthusiasm. In fact I would be very concerned if you did not go into business filled with optimism and enthusiasm.
Quick & Easy Guidelines to Classifying Workers as Employees or Independent Contractors
Do you know the difference between an employee and an independent contractor?
As a business owner not knowing can be very expensive.
Here is a guide to help you, the business owner, avoid penalties when classifying workers as Independent contractors or employees.
Employees are expensive when you count the cost of payroll taxes and employee benefits.
You as a business owner are always looking for ways to decrease your business expenses.
Many times it is tempting to hire an individual to work in your company or do work for your business and treat that individual has an independent contractor.
However, if you are wrong, and the Internal Revenue Service classifies that independent contractor as an employee your business will be subject to substantial penalties.
Here are three factors that you can use as a guideline for determining whether or not an individual meets the Internal Revenue Service classification as an Independent Contractor
The courts over the years have considered many factors in determining whether a worker is an employee or an independent contractor.
Today the courts consider three primary factors.
These factors are:
3.Relationship of the Parties.
Factors used to determine Behavioral Control.
Generally, if you the business owner have the right to control what will be done how it will be done, even if you do not exercise the right,the worker will be considered an employee.
Factors to consider:
The above are factors that point to classification as an independent contractor.
Relationship with the worker
Relationship with the worker
If you the business owner provide benefits and/ or the worker provides critical services essential to your business.
The worker meets the classification as an employee.
As employer consider the above three critical factors in determining whether an individual meets the classification as an independent contractor. Be sure to document why you believe an individual satisfies the criteria as an independent contractor.
What’s a person to do if they apply the above tests and are still unsure of the proper classification?
The Internal Revenue Service does provide a way for you the employer to seek a determination by filing a form SS-8 with the Internal Revenue Services.
Based on the information presented the Internal Revenue Service will make a determination as to whether the worker meets the criteria of an Independent Contractor individual.
For additional guidance on applying the factors dealing with the difference between independent contractor and employee email Gary McKinsey,EA
Email : Gary @Gary McKinsey.com In the subject line write Independent Contractor