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Whether you’ve retained a contractor vs an employee is an important question, and one that lots of businesses get wrong. John Sartoris, principal of The Sartoris CPA Group, recently joined The Savvy Entrepreneur Radio
Show live in the studio to discuss some of the issues.
It turns out that a lot of companies think they’ve hired a contractor, but what they really have is an employee, which can lead to lots of issues and significant costs. John talks about the IRS and Department of Labor tests, and how the issue often comes to light later.
He talks about the costs and repercussions if you categorize the individual incorrectly. He also shares the IRS requirements for any contractor you hire that you pay more than $600 in any given year.
John is articulate and often humorous as he explains some of the issues, and gives lots of practical examples.
Click on the arrow to the left to take a listen!
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