Question

From a taxable income perspective, is it better to be an employee or an independent contractor? Why? How is the determination between what constitutes an employee and an independent contractor made?

Answer 1

Costs brought about are dictated by the portrayal of a citizen as a representative or self employed entity (independently employed person).
The qualification between the two is essential because of work charges, for example, Social Security and Medicare charges.
To decide whether a citizen is a worker or self employed entity depends on social control, monetary control, and the relationship of the gatherings.
Social control depends on if the business has the privilege to control how the individual takes every necessary step.

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answered by: anonymous