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By Sushil Kumar, CPA

The question of whether a worker is classified as an employee or an independent contractor is not as clear-cut as you might think. Getting it wrong can be extremely costly and may result in prolonged financial and legal ramifications.

A common misconception is that all parties involved can simply agree to call the worker an independent contractor. However, it is the facts of each particular situation that dictate the true classification as either employee or independent contractor. Although there is no one defining feature of the relationship, there is a range of aspects that the IRS takes into account to determine the true nature of the payer/payee arrangement.

A worker is more likely to be accepted by the IRS as an independent contractor if they:

?Operate under a business name

?Advertise their business and services to the public

?Have more than one client/customer to whom they issue invoices for work performed

?Have their own employees

?Supply, pay for, and insure all of their own tools and equipment necessary to perform the work

?Are permitted to perform the work in the manner they see fit and during the hours they choose, provided the finished product meets the payer’s expectations

?Maintain business records and files

A worker is more likely to be deemed to be an employee by the IRS if they:

?Work for only one payer/employer

?Are trained by the employer as to the methods of performing their assigned duties

?Are required to perform their work in a prescribed manner (i.e., the employer prescribes the what, how, when, and where of the day to day activities of the worker)

?Are required to work during set hours on a regular basis

Some of the benefits of hiring an independent contractor rather than an employee include: saving in labor costs, flexibility in engaging and terminating workers, and lower risk exposure. Generally, with an independent contractor the payer simply pays the worker an amount for the services performed. For an employee, however, the employer is required to pay wages, withhold taxes and include the employee under the business’s workers’ compensation.

Although there are many benefits to hiring an independent contractor, the consequences of incorrectly treating an employee as one include: having to reimburse wages that should have been paid under minimum wage and overtime legislation; paying back taxes and penalties for federal and state income taxes, Social Security, Medicare, and unemployment; being liable for workers’ compensation benefits if the payee is injured; and having to provide employee benefits such as health insurance.

If, after considering your unique situation, you are not certain whether your worker should be classified as an employee or an independent contractor, you can request the IRS to make a determination by submitting a Form SS-8. Although this process can sometimes take up to six months to be finalized, if you regularly hire workers under such circumstances it would be well worth it to have a definitive ruling that you can rely upon. Additionally, you may decide to also seek advice from your tax advisor.

About the Author: Sushil Kumar, CPA specializes in providing accounting and tax services to small business owners and professional practices in Queens, NY. For more information, go here:

bestcpasolutions.com

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By Edward Hulse

As popular as online classes are, there are still millions of individuals that have not taken one. Some adult learners are even scared to try one. They are so used to sitting in a classroom they don’t want to try and balance a new way to learn with their already busy schedule. Online courses were not even available for many individuals going back to school for a graduate degree. But, there are some daring students out there. They are willing to try anything once. Or, because of their travel/work schedule they have to attend online classes to continue their education. They always want to know the same information; how can I prepare for an online class?

In this day and age education is one of the most important characteristics a business will look for in an applicant applying for a job. More students are going back to school than every before. Due to technology advancement, online education is becoming more and more popular for adults going back to school. There are so many degree programs out there both online and on campus. It is very important to do a lot of research when deciding what program and school to attend. First, think about what you want to do for a living. Do you want to be a nurse, own a business, or become an attorney? This is very important because many times depending on what your undergraduate degree is in; it will help indicate your future career path. Meaning if you get a bachelor’s in business management you will likely work in a corporate setting as a sales professional, marketing manager, or mid-level supervisor. On the other hand, if you get your bachelor’s in nursing, you will likely become a nurse at a hospital once you graduate.

Continuing your education is very important. It should not matter what the economy is doing. It is a best practice to be as up to date as possible on industry trends when making decisions for your company. You want to make an informed decision as opposed to an uninformed decision. The best part is, many employers will pay for an online education these days. You may have to commit to them for 1-2 years after completing the degree, but a free education is well worth it. You take the class, receive a passing grade; and then your company reimburses you for your tuition fees. It’s that easy. To find out what internet courses qualify for tuition reimbursement, contact your human resources department.

For the majority of online classes the content taught in the class is the same exact content as you would learn sitting in a classroom. So how can online classes be easier if this is the case? You do not get to meet your professor or classmates, but are held to the same standards as a student who gets that face-to-face interaction on a weekly basis. Online courses are typically more reading and writing than a traditional class and have less interaction with others. The students who prefer online courses like the flexibility and convenience, but the majority of them do not think they are ‘easier’ than a traditional course on campus.

About the Author: For more information please visit

MyCEisOnline.com

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For More Information MyCEisOnline.com

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How effective is Chiropractic Treatment for Work Comp Injuries?

by

Dr. Steven Read

Work related injuries have always been known for costing fortunes as can be illustrated by loss of millions of dollars each year due to lost work days and heavy compensations to workers. Considering the lost productivity of business and heavy loss of revenue due to medical care, it has become a serious concern of the businesses and governments in various countries to identify the best and cheapest mode of treatment for injured workers. Therefore, a number of researches have been conducted in several countries to identify the least expensive and fastest methods of care for injured workers.

As a result, chiropractic has been identified as the more effective and less expensive method of care as compared to conventional medical care for workers compensation injuries. For instance, in a study carried out at California, the patients who received chiropractic care by specialized doctors of chiropractic could return to work in an average of 15.6 days as compared to 32 days for those who got their standard medical treatment. Following the same pattern, the costs incurred in case of patients who received chiropractic care was significantly less than those who received medical care in form of traditional methods of medication.

The conclusions of various such researches held in various places, such as Florida, Utah, Oregon, and Carolina were supportive of the higher effectiveness of chiropractic care as compared to the conventional medication. The average cost of treatment, payment towards compensation, cost of hospitalization, and number of lost productive days were higher in case of the patients treated by medical doctors than those who received the chiropractic treatment.

Chiropractic, being a treatment methodology relying on the tendency of human body to heal itself naturally, is known to have clear and long-term effects. In addition to lower costs of chiropractic treatment and faster recovery from injuries, chiropractic treatment has gained its due popularity in last few decades due to its long-standing effects and significantly less numbers of negative side effects on the human body.

Dr. Steven Read is a 1988 graduate of Palmer College of Chiropractic. He has been practicing in Jacksonville, FL for over 20 years. He treats patients from Orange Park, Riverside, Green Cove Springs, Oak Leaf Plantation, Argyle and all throughout Jacksonville. He is currently offering a no cost, no obligation initial visit. Go to

Chiropractor Jacksonville

or

Chiropractor Orange Park

.

Article Source:

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