How many 1099 Independent Contractors work for your company?
I’m here to broadcast (by megaphone) that it is essential to classify your Independent Contractors (IC) correctly or there may be cause for an audit of your company in 2011. Your company may be a target of the IRS if you’re in an industry that typically engages 1099s.
Yes, ICs and consultants are an important part of America’s workforce. Project-oriented employment is very prevalent in today’s economy. But with the growing number of contractors, comes increased risk for employers.
It is important to pull your head out of the sand! There are landmark cases clearing the way for increased legislation, fines and penalties for improperly classifying workers. Intelligent business leaders MUST realize they are a short distance away from federal or state audits. The Revenue departments want their tax revenue!
Rothwell can help!
- We’ll build a 1099 process for you that ensures the proper classification of all of your current as well as newly hired 1099 Independent Contractors.
- To retain your loyal consultants, we can create a compliant environment by bringing them into Rothwell’s Employer-of-Record program. This model is a program especially suited for consultants who desire to maintain their independence. They receive health care insurance benefits, business insurances (which mean Certificates of Insurances for you), tax optimizations (that will equal or better their self-employed tax savings), and all the back-office services they would like to utilize.
Contact us today! Keep your independent contractors happy, yet compliant!