IRS Independent Contractor -
Know the Roles; Protect your Position
IRS Independent Contractor
Whether you are engaged by clients to provide the consulting or contracting services, it is essential that you are able to evidence your IRS contractor status if challenged to do so by the IRS.
This is potentially a complex area and certainly you should seek independent professional advice to give you the assurance you need, however, the main criteria that are used to determine whether someone has IRS independent contractor status are quite straightforward.
There are a number of resources on www.independent-consulting-bootcamp.com that will assist you in this process:
- First check out the different operating models for your contracting / consulting business;
- Second review the IRS tests of independent contractor status;
- Third, make sure you understand the importance of a 1099 independent contractor agreement;
- Finally, make sure you are protected by using robust and appropriate contracts with your clients and subcontractors.
Next steps
I suggest you study these materials, refine your thinking as to whether you believe you are / will be able to satisfy the IRS contractor requirements and then make an appointment with your accountant or lawyer to get an independent professional opinion based on your particular circumstances and plans.
My experience has been over many years, that investment of time and some money in professional fees will pay back tenfold. In addition, few areas are as important to get nailed down as confirmation of your IRS independent contractor status.
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