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Hiring independent contractors eliminate your need to pay wage taxes, offer benefits or provide office space, which can save you 30-40% on labor costs, according to many pros. In order to be considered an independent contractor, the relationship must meet the following criteria.
Speaking with an experienced employment lawyer is an easy way to ensure your situation meets the requirements and you avoid penalties and back taxes.
One out of every 10 workers are considered independent contractors. The reality of your relationship is the ultimate determinant of whether a worker is considered an independent contractor. That said, the contract signed by the parties is an important element.
Whether you’re signing an agreement provided to you by an independent contractor or you need an agreement drafted to use with clients’ seeking to hire you, it’s a great idea to work with an experienced contract lawyer to make sure the agreement is correct.
With a membership from LegalShield, you can call your lawyer to get legal advice, submit an independent contractor agreement for them to review or work with them to draft a new agreement, all for a fraction of typical lawyer fees.
If a worker you have hired files a complaint or a labor auditor is investigating whether a worker is misclassified as an independent contractor, it’s important that you speak with an experienced employment lawyer as soon as possible.
Even unintentional misclassification can result in penalties of 1.5% of wages, 40% of the FICA taxes that were not withheld and 100% of the matching FICA taxes the employer should have paid.
Rather than stress and guess, get a LegalShield membership now. For a small monthly fee you can call your lawyer for advice and they can even make calls and write letters to the auditor on your behalf. LegalShield makes it easy and affordable.
LegalShield’s business plans can help you in the following areas.
Legal consultation from a provider lawyer on business legal matters, with legal research for each issue, if needed.
Receive help with business legal matters more efficiently with professional communications issued on your behalf.
Put business-related legal documents through legal review.
A collection letter from a provider lawyer could help you recoup payments more efficiently.
Finding solutions to your legal issues doesn’t have to be stressful, complicated or expensive. LegalShield puts the power of legal representation within reach of any individual, family, or business. We work hard to make it easy, simple, and affordable to get the legal help you need, when you need it.