January 2025

One of the responsibilities that business owners have is to ensure compliance with tax laws. Thankfully, your CPA helps with this complex task, but there are some aspects of being a business owner that must be decided as an owner. One of those is compensation.

Understanding the differences between an independent contractor and an employee is essential for both businesses and its workers. This classification affects not only the nature of the working relationship but also legal rights, tax obligations and benefits entitlement.