Properly classifying workers as either independent contractors (1099) or employees (W2) is crucial for business compliance and avoiding costly penalties. Misclassification can lead to significant legal and financial consequences, including fines, back taxes, and employee claims for benefits.
This guide will help you understand the key differences between 1099 contractors and W2 employees, focusing on control, financial independence, and the nature of the working relationship. Learn how to assess your worker arrangements, ensure compliance with IRS guidelines, and create a fair, transparent framework for your team. Protect your business and your workers by getting classification right!
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