By Connie Alsobrook
There are some advantages working as an independent contractor, because it allows you the freedom to work on your own terms. However there are greater advantages for employers to classify you as a independent contractor. Only you can decide what the best decision is for you from your taxes to freedom.
1. Control. If you are told the time, place and how you work. If you are given a certain time to be at work and penalized for not adhering to it. Independent Contractors work when, where, and how they choose.
2. Financial Control. Employees are normally paid by the hour, day, or week. Contractors are usually paid by the job and invoices are submitted. A contractor has the room to make a profit or take a loss than an employee. If you employee is making a bigger profit than you are, then there is a great chance you are an employee.
3. Training. If the company pays for training or none paid training on how to do your job that is a clue you are an employee. Employees can give an independent contractor small instructions as to how the end job should be. Contractors are usually already having degrees, and the training to do the job ore they would not have been sought out.
4. Evaluations. If you are evaluated in any way about the process, methods, and details of how your job is being done, it’s a chance you are an employee. Contractors usually contact the company if they have concerns, question, or issues on how the process of the job if going.
5. Opportunity to work elsewhere. Contractors are free to take work from other companies and advertise as such. If you are banned from working for other companies or industries, it may be best to be a consultant and work as a contractor.
Just because you sign an Independent Contractor Agreement does not exclude the employer from being penalized by The Department of Labor and The Internal Revenue Service. If think you have been misclassified as independent contractor and want to take action contact The Department of Labor (DOL). DOL has an outline of determining if you were misclassified.
HoursKeeper – Hours Tracker Download Now
– Well designed, easy to use, intuitive interface.
– Realtime hours/earning tracking for multiple clients.
– Weekly and monthly timesheet.
– PDF invoices to send to customers.
– Calculate overtime earnings.
– Earnings reports.