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What Tips off the IRS?
Protect your status

If you are working as an independent contractor, it is crucial that you know what you are entitled to and what is required to operate your business.

The number one issue is to pay your own taxes. Many businesses are required to give you a form 1099 and report the taxable income they have paid you. But, as an independent contractor, it is your sole responsibility to pay your own income and self-employment taxes. You may need to make estimated tax payments during the year to cover your tax liabilities.

As an independent contractor, you are not entitled to file claims for:
  • Unemployment benefits
  • Workers compensation benefits
  • Disability benefits
Doing so could subject you and the firm who hired you to an audit by the Internal Revenue Service or State EDD department.
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netPolarity Bridging the Gap