Pay Stub Maker is a widely accepted paystub generator tool whether you want to create pay stubs online for employees or contractors.
This blog will be a read based on the classification of independent contractors and the way in which pay stub generator can assist. Besides being useful for independent contractors, Restaurant staffing issues can also be resolved with Paycheck Stubs.
Who can be classified under an Independent Contractor?
The individuals providing goods or services to a company under terms specified in an Independent Contractor Agreement are known as independent contractors. They are generally expected to work as per their work schedule, as and when needed.
No income taxes are withheld from their pay but they are required to file a 1099 MISC form at the end of the year for reporting their earnings. Independent contractors are required to fund their own benefits and furnish all their supplies which can be used as tax deductions.
It becomes a point to be noted by businesses and they need to classify workers very carefully as employees or independent contractors as misclassification may lead to IRS fines.
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Types of Independent Contractors
Freelance workers are independent contractors who are outsourced the tasks by the firm. They work independently and as per their convenience and deliver work to the company as required.
Sub-contractors are mostly companies or individuals who are contracted to perform a part or all of the other person’s or companies contractual duties.
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