If you want the contractor to complete his or her own profile, click in the box in front of Email this contractor… In the window that opens, enter the individual’s name and email address. Click on Workers in the left navigation pane, then Contractors | Add a contractor. Like you would with anyone you employ, you’ll need to create records for contractors in QuickBooks Online. You can either let a new contractor complete his or her own profile or do so yourself. If you have any doubts, we can help you determine your new worker’s status. The IRS spells out the differences very clearly and takes this distinction very seriously. Warning: Be sure that any independent contractor you hire cannot be considered an actual employee. They’ll simply fill out an IRS Form W-9 and you’ll pay them for services provided, dispatching 1099-MISCs after the first of each year so they can pay their taxes. Since they’re not W-2 workers, your paperwork needs are minimal. If you’re thinking of hiring a freelancer to do some of your work, you’ll find that QuickBooks Online can accommodate your accounting needs for them nicely. Some who had lost full-time employment even turned one or more of these part-time passions into a small business and became independent contractors for other companies. And we saw how prevalent this became was when millions of people had to resort to side gigs to keep afloat during the economic downturn of a decade ago. In days past we used to call it “moonlighting” – taking on a second, part-time job for extra money. QuickBooks Online makes it easy to track and pay independent contractors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |