You can’t even split it up between family members.
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That’s BS !!!
I do believe what you are saying.
The rule/law is BS.
This will not only create huge problems for existing entities, it will have closed the loopholes that, I think some DemoRats, were counting on.
The result will make “everybody” a “Worker”.
It will destroy the independent contractor and the flexibility that status provides.
Unless “every” position in the operation of the company is an “IC” and paid on a 1099.
Not sure if that would work either.
operation of the company is an “IC” and paid on a 1099.
Not sure if that would work either.
= = = = = = = = = = = = = = = = = = = =
I can’t see that happening.
As it stands now, ‘they’ try their best to discourage the “IC” as ‘they’ have NO ONE to collect and give ‘them’ the witholdings as it is a quarterly filing with ‘YOU’ sending ‘them’ a check.
If companies and businesses ‘quit’ being the tax collector FOR the ‘Govt’ the system would ‘surely’ break down which of course is one reason why ‘they’ are reluctant to knock off the ‘illegal’ work force as enough of the ‘illegals’ pay some sort of tax through withholdings.
Remember your first check when you were told you were going to be making $2.50 per hr and you were counting on 100 bucks because you put in 40 hrs.
OH THE SHOCK when the check was handed to you for the grand amount of $85 bucks and you wondered what the “SOB’s” and this guy named FICA were ‘sharing’ your money was all about.
(ABOVE figures used for ease, NOT accuracy, to prove a point).
My ‘1st’ job was as a pinsetter in a bowling alley, (COMPLETELY manual - except for the treadle peddle and pegs sticking up) and, as a 14 yo got the grand sum of $6 per day, working double alley/double shift. In 1954 30 bucks a week for a high school kid wasn’t all that shabby, especially when you could work ‘free lance’ on weekends with tips included.
Then went in the Navy where I earned the grand total of $75 per month BUT they ‘threw in’ room and board in exchange for being on call 24/7.
Between the Nuns up through 9th Grade and working 30+ hours a week while in HS, my parents (Mother) would surely be in the slammer in todays world for “Gross Child Abuse and Neglect”. <: <: <:
Not sure if that would work either.
The IRS has very specific rules about who can be classified as a contractual worker with a 1099 vs an employee. In fact, and entire industry was formed to certify contractors.
Mark
Not sure if that would work either.
This won't work either. The rules of the 1099/IC are such that they cannot be under your direct management. If a 1099 only works for you, under your direct control, and you require him/her to be where/when/how you like, they are an employee not an 1099.
A true 1099 works for himself at multiple vendors and is on his own time, and you do not give him a paycheck, he invoices you, and is payed out of A/P. Also, the 1099 is required to have Worker's Comp insurance and must provide a certificate of insurance to any vendor he has.
So love the "we have to pass it to know what's in it" bill. /raging sarcasm