Education

In the “gig economy,” it is increasingly common for companies to engage independent contractors. Yet, is simply calling someone a contractor and having them signing an independent contractor agreement enough to make them a contractor? Misclassifying workers can have significant consequences both to workers and to companies. Employees who are misclassified as contractors may be improperly excluded from participation in employee benefit plans and incur tax withholding complications. The IRS could assess penalties on employers for failure to withhold and remit appropriate taxes for misclassified workers. The Department of Labor and other federal and state government agencies also may penalize employers for misclassification. Greg Daugherty and Nicole Mayo from Porter Wright will help explain how to determine whether a worker is a contractor or employee and steps your family business can take to achieve the desired classification. ... read more