Special Report on
Independent Contractor Contract Agreements
Independent Contractor Contract Agreements - Trends
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In the United States, any company or organization engaged in a trade or business that pays more than $600 to an independent contractor in one year is required to report this to the Internal Revenue Service (IRS) as well as to the contractor, using Form 1099-MISC. 1 2 This form is merely a report of monies paid; independent contractors do not have income taxes withheld from their pay as regular employees do. When computing taxable income on the federal income tax return, the independent contractor can deduct, from his gross income amount, the amount work related expenses, such as tools or safety gear needed for the work that were ...
--- The independent contractor agreement is meant to define the essential elements of a contractor relationship, which should include clearly specifying the contract worker's responsibilities and duties. In case a worker is classified as "employee" and not an "independent contractor" the company will be liable for paying extra taxes, keeping records up to date, and meeting with the safety requirements. This type of indenpendent arrangement is a viable option that prevents such extra obligations by showing that the contractor relationship exists and is valid for the ... Read More
SURVEY RESULTS FOR
INDEPENDENT CONTRACTOR CONTRACT AGREEMENTS
Independent Contractors Agreement -- or are you an "employee"
Santa Monica Council Meeting
- Preventing and Managing Independent Contractor Risks
- "Proposed OCI Rules," Crowell & Moring Webinar (May 20, 2010).