Independent Contractors vs. Employees

Throughout various stages, your startup or small business may work with independent contractors (“I.C.s”) to meet the ever-changing needs of your company. Using I.C.s allows you to pay for services, such as software/app development and sales, without the need to have a fixed employee salary or providing benefits, and thus, potentially saving your business money. However, the IRS has specific guidelines for determining if the people who work for you are I.C.s or if they are really employees.

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Protect Yourself From Personal Liability

As a startup or small business owner, you have endless decisions to make for your company. One of the most important is how you can protect yourself from personal liability. While many business owners like the freedom of operating as a sole proprietorship, this business structure leaves your personal assets unprotected from your business liabilities. If your business struggles to pay its debts, your creditors may go after your personal assets.

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