A Department of Labor study found that up to 30% of businesses misclassified employees as independent contractors.
Should you be hiring employees or independent contractors? There’s no one size fits all answer, it depends on how you want to accomplish your goals.
The main importance behind employee classification regulations is their effect on taxes, payroll items like overtime and deductions, and eligibility for benefits, such as health insurance and paid time off. Classifying employees can be complex and if not done properly, can be very costly and time-consuming for businesses.
The Department of Labor (DOL) is the governmental agency that handles misclassification of employees (among many other things, of course). You can find out more about misclassification directly from the DOL here.
...Click the link below to read more
RSS Feed