Exit Planning Series Article 3: Independent vs. Employee Status

The Big Question: Independent versus Employee Status

Are you workers independent contractors or employees? This is a compelling question, especially where the Internal Revenue Service is concerned. Every worker claiming status as a non-employee means payroll taxes and social security contributions that won't fall into the IRS's pockets.

Now many states are taking a closer look at the question, too. They are increasingly on the lookout for new sources of state revenue, including workman's compensation and unemployment insurance, both of which can be bypassed when a business uses independent workes.

to read the full article... click here.

And be sure to check out our Next installment in the Exit Planning Strategy series, Article 4: "How to Hold on to Key Employees" this Friday, March 25th.