Is Your New Hire An Independent Contractor or Employee?

When you’re running a small business, and are ready to hire your first employee there are a lot of options: do you want to hire an independent contractor or an employee? While it might seem like this question can be easily answered solely based on your individual business needs and the amount of work you have for the new employee to complete, you also need to consider the tax implications of the classification you choose to give the new hire.

Is Your New Hire An Independent Contractor or Employee?

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What Is Self-Employment Tax?

Self-employed individuals are subject to different challenges when it comes to taxes. Staying diligent and keeping accurate records can go a long way in easing the frustration.

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How Do I Determine My Filing Status?

Your filing status is perhaps the most important piece of information when it comes to tax withholding. Learn which filing status applies to you.