If you are part of the workforce in Missouri, chances are you value your job. Even though it may be stressful at times, your career allows you the chance to learn and strengthen your skills and to afford a living on top of that. Understanding your title is imperative to making sure you receive all of the benefits you deserve. So, how can you tell if you are an independent contractor? According to the Internal Revenue Service, whether or not an individual is considered an independent contractor varies from situation to situation. If you are self-employed and do not receive instruction in regards to how you complete the work you do, you are considered an independent contractor. If you report to someone and your actions and obligations are overseen by a superior or controlled by an employer, you are considered an employee. It is important to note that even in situations where you may be entrusted with several responsibilities and given freedom, as long as you are still required to report to someone else, you are still considered an employee.
Understanding the differences between the two is critical when filling out tax forms. The reason why it is important to know and document your category is because your tax obligations will be affected by your classification. Some examples of jobs that are usually defined as independent contractors include veterinarians, subcontractors, auctioneers, doctors and dentists among others. The information in this article is intended for educational purposes only and should not be taken as legal advice.
Source: New feed
