Posts tagged small business owners
Biden’s new rule on independent contractors wages war on workers, women and entrepreneurs
February 26, 2024 // In the past year alone, 64 million Americans freelanced, half of whom were women. Women choose independent contractor status because of the flexibility it affords them, a particularly important factor for those raising children or aiding in caring for parents or other family members. Ninety-two percent of female workers prioritize flexibility over stability when it comes to their careers. Flexibility in the workplace is no longer a commodity, it is a necessity.
Worker misclassification could cost big bucks for small businesses
February 22, 2024 // Audited companies found to have misclassified employees face significant penalties. Just federally that means repaying all the employer portions of taxes that had been paid by employees and a portion of the employee contribution. There are also interest and penalty costs. “That’s just the tax piece,” Panning said. “If there’s a class action lawsuit by these independent contractors saying we’re employees, we deserve the benefits, then it’s even more because you get into the court system.”