Independent Contractor
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An Independent Contractor is a legal entity whose performs a work tasks under their own control.
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- Counter-Example(s):
- See: Contract, Employer, Law of Agency, Freelance Worker.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/independent_contractor Retrieved:2015-7-6.
- An independent contractor is a natural person, business, or corporation that provides goods or services to another entity under terms specified in a contract or within a verbal agreement. Unlike an employee, an independent contractor does not work regularly for an employer but works as and when required, during which time he or she may be subject to law of agency. Independent contractors are usually paid on a freelance basis. Contractors often work through a limited company or franchise, which they themselves own, or may work through an umbrella company.
In the United States, any company or organization engaged in a trade or business that pays more than $600 to an independent contractor in one year is required to report this to the Internal Revenue Service (IRS) as well as to the contractor, using form 1099-MISC. [1] [2] This form is merely a report of the money paid; independent contractors do not have income taxes withheld like regular employees.
- An independent contractor is a natural person, business, or corporation that provides goods or services to another entity under terms specified in a contract or within a verbal agreement. Unlike an employee, an independent contractor does not work regularly for an employer but works as and when required, during which time he or she may be subject to law of agency. Independent contractors are usually paid on a freelance basis. Contractors often work through a limited company or franchise, which they themselves own, or may work through an umbrella company.
- http://www.newyorker.com/magazine/2015/07/06/gigs-with-benefits
- QUOTE: … We hear a lot these days about the gig economy, but the issue of whether a worker is an employee or an independent contractor has been the subject of intense legal battles for decades. The distinction can be surprisingly hard to make. The I.R.S. has a list of twenty factors that it takes into account, but other federal agencies have different criteria, as do most states. The fundamental issue is usually whether an employer has “control” over the work being done, but defining control isn’t always easy.