1099 Reporting Requirements - Contractor vs. Employee

Instructor: David Sanders
Product ID: 704174
  • Duration: 90 Min

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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Read Frequently Asked Questions

This training program will focus on the distinctions that determine whether a worker is an employee or a contractor. It will enumerate common laws and regulations that help in the determination and the procedures for correct reporting of 1099s.

Why Should You Attend:

In the ever changing world of business, it is critical to correctly determine whether individuals providing services to companies are employees or independent contractors and per the statutes report to avoid audits and other enforcement efforts. The IRS says if you treat employees as nonemployees you will be liable for all social security and Medicare taxes and for withholding taxes for the entire period of misclassification plus all penalties and interest.

Businesses are pushed to supply customers the best prices. One of the ways companies are trying to cut expenses is reclassifying employees. Every business knows hiring employees can be increased hardship for businesses to provide benefits and pay increased wages, and thereby classify workers as contractors.

The IRS states employers need to be fully informed of the code and know how to determine contractors vs. employees to stay in compliance or face fines. This webinar will train attendees on the same.

Learning Objectives:

  • Learn how to present ideas in financial terms for greater impact
  • Gain confidences with figures and facts
  • Understand fundamentals of contractors
  • How to increase your competitive position by understanding these areas
  • How to analyze performance and decision making
  • Learn fundamentals of employee vs. contractors
  • Financial impact
  • How to evaluate your current systems strengths and weaknesses
  • Characteristics of successful strategic competition
  • Learn best practices

Areas Covered in the Webinar:

  • How to determine whether a worker is an employee or contractor
  • Avoid fines and interest in these areas
  • Common Law Rules-facts that provide evidence of the degree of control and independence
  • How to obtain help in the determination
  • Consequences of treating an employee as an independent contractor
  • IRS relief provisions for misclassified employees
  • Voluntary Classification Settlement Program (VCSP)
  • How to report information returns for contractors
  • Three types of employees defined
  • Correct reporting of 1099s
  • Correct classification of your workers
  • Filing the correct information as required by the IRS Pub 1220

Who Will Benefit:

  • Human Resources Professionals
  • Business Owners
  • Department Managers
  • Managers, Supervisors
  • Team Leaders
  • Personnel Managers
  • Anyone with the responsibility of hiring or acquiring service providers

Instructor Profile:

David E Sanders is widely considered one of the nation’s leading expert on accounting, accounts payable, accounts receivable, collections, budgets, personal finance, personal income taxes, business taxes, business set up, sales and use taxes, non-profits, accounting internal controls, fraud, vendor and supplier management. He has conducted over 5, 000 public seminars worldwide and 2,500 company on-sites training sessions.

The author of four acclaimed books, 25 seminar workbooks, numerous training tapes, he holds seminars and conferences nationwide, he breaks things down into easy to understand steps that you can implement immediately. He was an endorsed local provider/consultant for the Dave Ramsey Show covering the whole Greater Cincinnati and Northern Ky. Area; he has appeared on Fox Business Network TV and WQRT/ WLW Radio as a national business specialist/consultant.

Mr. Sanders has a wealth of experience to share that is supported by impeccable financial credentials including over 36 years’ experience in the financial industry and holds numerous degrees including accounting, business administration and finance.

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