Whitepapers, Guides & E-Books

Employees vs Contractors EBook US

Free Payroll eBooks for Small Business Owners and Startup Founders in the United States & Canada

Issue link: https://blog.wagepoint.com/i/559241

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Page 2 of 19

Employees or Contractors Which Option is Right for My Business? A t some point in time, every business owner is faced with the question - "Do I hire staff, or work with con- tractors / freelancers?" Ever since the recession there have been more people who have gone the indepen- dent route, and more companies willing to work with them instead of hiring full-time employees. Hiring contractors is a great way to man- age supply - demand shifts, so if there's less work you can let them go more easily. They're also responsible for their own taxes, which usually reduces the cost burden on companies. And if you are hiring contractors who are working on your company almost full-time, on-site using your company's equipment, it would result in them being classified as employees in the eyes of the Internal Rev- enue Service (IRS). Employees don't have the same freedom of movement, or the ability to work under their own direction, nor do they normally seek to make a profit from the relationship. It all comes down to the nature of the over- all relationship, should you be uncertain as to whether someone working for you is an employee or contractor. In order to help you answer whether you should hire contractors or employees, we've put together this handy quick reference eB- ook. But it goes without saying, employment law, especially when classifying whether someone is an employer or contractor is a complex legal matter, for which we recom- mend you seek legal advice and consult your relevant government agencies. And on that note, we hope you find the eBook useful, and we wouldn't mind if you wanted to share the wisdom! Introduction | Pg. 3

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