Are You Classifying Your Employees Correctly?
Many employers are looking for ways to save money on employment taxes. Is it wise to try and pay individuals doing work for you as contractors? Or, is it better to just pay workers as employees? Is this a good idea to save some money? The Internal Revenue Service and many state departments of labor have tests that determine whether an individual is an employee or an independent contractor. I will discuss these tests and what the potential consequences could be for businesses that fail to properly classify and pay their employees. The costs to your business of not properly classifying your employees can be very devastating. This is not a chance that businesses should take.
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