Want to save a lot of money next time you hire a new worker?
Don’t hire them as an “employee.” Add them as an “independent contractor.”
That status distinction can save you a bundle as you’ll learn when you read my new article. In fact, you can save literally thousands of dollars in federal employment and unemployment taxes by knowing how to play the game.
But be careful. The IRS wants its money so it makes the classification rules for “independent contractor” status difficult. That’s where my new article comes in. You’ll learn how to stay in compliance and save a whole lot of money when you read Tax Tips: Slash Employment Taxes: Take Three Steps Before Hiring Workers.
Three ways our fact-filled article can help you:
- You’ll learn how to dramatically cut your FICA and FUTA tax bill. If you hire an independent contractor, you don’t have to withhold or pay federal taxes, Social Security, Medicare or FUTA tax. And that’s just for starters. You’ll get the whole story when you read the full article.
- We’ll tell you how to avoid a dangerous and costly trap. If you misclassify an employee as an independent contractor, you could owe Uncle Sam a lot in back taxes, penalties, interest, and legal fees. You’ll learn how to stay out of trouble when you read the full article.
- We’ll explain the three steps you need to take. (It’s worth reading the article for this information alone!) The IRS currently uses three criteria to decide how employees should be classified. You don’t want to get their rules wrong! We’ll explain how to comply with the letter of the law when you read the full article.