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More Companies Explore Hiring Independent Contractors Versus Employees
March 16, 2010Business Attorney David M. Walker, Esq. finds himself consulting an increased number of clients on the pros and cons of having independent contractors as opposed to employees. At the end of the year, companies issue independent contractors IRS form 1099 to reflect the compensation paid to the contractor; on the other hand, employees are issued IRS form W-2 that discloses the salary paid by the company. As first quarter of 2010 draws near, businesses are evaluating their fiscal health and exploring additional cost saving options. One of the trends taking place in the human resources sector involves the transitioning of current employees to independent contractor status. Full release.