This training program will focus on the distinctions that determine whether a worker is an employee or a contractor. It will enumerate common laws and regulations that help in the determination and the procedures for correct reporting of 1099s.
Businesses are pushed to supply customers the best prices. One of the ways companies are trying to cut expenses is reclassifying employees. Every business knows hiring employees can be increased hardship for businesses to provide benefits and pay increased wages, and thereby classify workers as contractors.
The IRS states employers need to be fully informed of the code and know how to determine contractors vs. employees to stay in compliance or face fines. This webinar will train attendees on the same.
Why Should You Attend:
In the ever changing world of business, it is critical to correctly determine whether individuals providing services to companies are employees or independent contractors and per the statutes report to avoid audits and other enforcement efforts. The IRS says if you treat employees as nonemployees you will be liable for all social security and Medicare taxes and for withholding taxes for the entire period of misclassification plus all penalties and interest.Businesses are pushed to supply customers the best prices. One of the ways companies are trying to cut expenses is reclassifying employees. Every business knows hiring employees can be increased hardship for businesses to provide benefits and pay increased wages, and thereby classify workers as contractors.
The IRS states employers need to be fully informed of the code and know how to determine contractors vs. employees to stay in compliance or face fines. This webinar will train attendees on the same.
Learning Objectives:
- Learn how to present ideas in financial terms for greater impact
- Gain confidences with figures and facts
- Understand fundamentals of contractors
- How to increase your competitive position by understanding these areas
- How to analyze performance and decision making
- Learn fundamentals of employee vs. contractors
- Financial impact
- How to evaluate your current systems strengths and weaknesses
- Characteristics of successful strategic competition
- Learn best practices
Areas Covered in the Webinar:
- How to determine whether a worker is an employee or contractor
- Avoid fines and interest in these areas
- Common Law Rules-facts that provide evidence of the degree of control and independence
- How to obtain help in the determination
- Consequences of treating an employee as an independent contractor
- IRS relief provisions for misclassified employees
- Voluntary Classification Settlement Program (VCSP)
- How to report information returns for contractors
- Three types of employees defined
- Correct reporting of 1099s
- Correct classification of your workers
- Filing the correct information as required by the IRS Pub 1220
Who Will Benefit:
- Human Resources Professionals
- Business Owners
- Department Managers
- Managers, Supervisors
- Team Leaders
- Personnel Managers
- Anyone with the responsibility of hiring or acquiring service providers
Course Provider
David Sanders,
