employee vs contractor: The Second Worst Business Mistake You Can Make
- 11/02/19 01:34 PM
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. See this post about the absolute worst business mistake. But what is the second worst mistake you can make that often leads to the worst mistake? The answer is misclassifying employees as contractors. If the IRS determines that you have done this evil deed, the resulting taxes and penalties can easily put you out of business. What makes it so expensive? The IRS is going to calculate the taxes due for each if the three open tax years by taking the total wages for each year and … (1 comments)
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Jim Payne, CPA
CPA firm practicing in the area of IRS Collections
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. See this post about the absolute worst business mistake. But what is the second worst mistake you can make that often leads to the worst mistake? The answer is misclassifying employees as contractors. If the IRS determines that you have done this evil deed, the resulting taxes and penalties can easily put you out of business.
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