Let’s say you decide to onboard a freelancer, also known as an independent contractor. What should your next tax- and finance-related moves be? Let’s find out! What to expect when you onboard a freelancer or an independent contractor When paying freelancers, you are not required to withhold any of the following from those payments: The […]
Tag: worker classification
New Independent Contractor Rules: Do They Affect Your Employees?
The Department of Labor’s final rule for employee or independent contractor classification under the Fair Labor Standards Act rescinds the 2021 Independent Contractor Rule, replacing it with guidance on analysis that’s more consistent with the FLSA as interpreted by longstanding judicial precedent, and was scheduled to take effect March 11, 2024. The final rule reduces […]
Independent Contractor: A New Definition?
Who counts as an employee versus an independent contractor may be about to change. A DOL proposal suggests revamping employee classification, reclassifying workers who are economically dependent on a company as employees entitled to more benefits and legal protections. The DOL has received 12,469 comments on the proposed rule, so the agency may not issue […]