Hiring independent contractors instead of employees can save you 15 to 30% on payroll taxes and benefits. Maskot/Getty Images Hiring private contractors can be tricky when it comes to properly filing taxes and worker's comp insurance. If a contractor functions like a full-time employee, misclassifying them which invite hefty penalty fees. If you operate in multiple states, adjust your policies to follow the state with the strictest laws. Jessica Stuart learned the hard way the risks of relying on independent contractors.
Similar Stories to Everything You Should Know Before Hiring Private Contractors For Your Business on Bing News
insider@insider.com (Sophie Downes), Business Insider
Fri, 10/15/2021 - 4:00am
Topics: maskot/getty images jessica washington dc-based long story short media montana trinet npi abcs federal tracey diamond troutman pepper abc craig gehring ceo masteryprep baton rouge louisiana richard reibstein locke lord business insider in hiring stuart gehring company taxes states operate benefits compliance save risk payroll employees law control firm employee work laws strictest time owe state policies filmed multiple
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