In 1985, Aretha Franklin released one of her best selling albums. The title track was Who’s Zooming Who – an upbeat song about the push and pull of pursing a new relationship. To their core, business relationships are simply that – relationships. How should you decide whether a person is the right person to become a business partner? In addition to delving into your business partner’s characteristics, the question requires a glance in the mirror to see what you, truly, bring to the table.
06 Mar 2016
Do you think you have Independent Contractors instead of Employees? As a business owner, if you have Independent Contractors, you do not have to withhold taxes; provide benefits; or even pay minimum wage. Unfortunately, Nevada law and Federal law have recently made sweeping changes in how they define an “Independent Contractor.” If you improperly categorize the worker as an Independent Contractor, you may subject yourself to fines from both the State of Nevada as well as the Internal Revenue Service, including liability for unpaid payroll taxes (for which you will be personally liable); unpaid unemployment taxes; unpaid workers’ compensation premiums; overtime liability; as well as the costs of benefits that you offer to your other employees.