Editor's note: This is the seventh in a series of articles on developing start-up companies in the technology or biotechnology sectors. The most recent article focused on business taxes.
- Your entity is formed and you are ready to begin hiring workers. As discussed in the previous article, you generally must withhold and pay fede......Full article >>>
You may be familiar with the Internal Revenue Services
' 20-factor test, which until 2006 was the standard method used to make the determination of employee status. The IRS now has adopted a simplified test using three categories - behavioral control, financial control, and type of relationship - to analyze the degree of control and the degree of independence in the......Full article >>>
In addition, independent contractors are generally free to seek out other business opportunities, often advertise, maintain a viable business location, and are available for work in the relevant market. Although independent contractors are generally paid a flat fee for the job, this is not necessarily determinative. It is considered common in some professions, such as law, to p......Full article >>>
e classified as an independent contractor for some purposes, but as an employee for other purposes.
Although these tests are similar in some respects, you should not rely on a single test for classifying your workers for all purposes. In all cases, you should review the specific applicable criteria to be sure that the workers you employ are properly classified.
Next time, we wil......Full article >>>
University of Wisconsin-Madison
and a bachelor's degree in education from the University of Wisconsin-Eau Claire
The opinions expressed herein or statements made in the above column are solely those of the author, and do not necessarily reflect the views of Wisconsin Technology Network, LLC.
WTN, LLC accepts no......Full article >>>
Source:wistechnology.com By Joe Boucher and Bonnie Wendorff 02/27/07Related biology technology :1
. Early Stage: Step 11 - Other forms of finance2
. Early Stage 10: The nuances of federal laws3
. Early Stage, Step 9: Raising capital in the securities landscape4
. Early Stage, Step 8: Misclassifying workers brings risk5
. Early Stage: Step 6 - Taxes, taxes, taxes!6
. Early Stage: Step 5 - Forming the entity7
. Early Stage, Step 4: Cautionary trademark tales8
. Early Stage, Step 3: Naming the entity9
. Early-stage quality brings investment, Meier says10
. Early-stage executives hear from investors11
. Early Stage Step 2: Choosing a domain name