The designation of Employee (w2) vs Independent contractor (1099) is not up to the free will of the parties. It has to follow regulations released by the IRS, DOL, and State authorities. Some business owners might consider that independent contractors might be less costly as there is no employer portion, no payroll processing fees, no workers
Second Round of Coronavirus relief The second round of Coronavirus relief funding was approved last Friday, so apply as soon as possible through your preferred financial institution. As you might know, the first round of funding lasted less than two weeks and some of the banks had a relatively small allocation running out of funds in a matter
If you are not approved for the PPP or not applying for it, the Employee Retention Credit might be a great option for your business if you continue to have payroll costs. Employers, including tax-exempt organizations, are eligible for the credit if they operate a trade or business during calendar year 2020 and experience either:
