New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.

Answers

Can my workers be treated as independent contrators?

Asked by: daniel  — 19 May, 2011

Want to start a company but do want to avoid workers compensation they need to be part of company I know, but I own all equipment is it possible to do?

Answered by: admin  — 19 May, 2011

Daniel,

I understand that you are basically asking if the people you hire to work for your business can be considered independent contractors and not employees. This is a question not to be answered without deep understanding of how your business will operate.

Instead of answering the question I would refer you to the article on the IRS site that describes in details the difference between independent contractors and employees, as well as gives you an idea of what would happend if the worker is misclassified: http://www.irs.gov/businesses/small/article/0,,id=99921,00.html

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