If an individual works under your direction during the process of creating a product or service: employee. If an individual works under their own direction while creating a product or service and you pay only for the end result: contractor. I don't get why this is so hard for some people and companies to grasp. Employees are in a governing/governed parental relationship while contractors are in a mutually equal transactional relationship.
Episode idea for you . When a person starts looking into all the aspects of starting a business , be it selling goods or service , you need to get paid . What options are there and what are the pros and cons of each ?
Does anyone know of an easy way other than qb for contractors to receive payments from clients I deal with high amounts so zelle and stuff doesn't work? Chase ach is putting 5 day holds makes it hard to pay subs
@@enhancedbeautyskin6374 I wish it was still like that, been in the business 19 years and this is the first time we're having this problem, none of our clients use checks anymore and they don't want to go to banks to get 1
so if I need someone working from 8 to 5 Monday -Friday for 1 year possibly extended for 1 more year on IT business it would be W2? but in this case there is a specific time-frame so it could be also classified as 1099.
Question! I run a small service based LLC. Emphasis on the small. we only meet up for a job 1 to 3 times a week and jobs only last 3 to 6 hours. 1099 contractor or W2 employee? If 1099 contractor is the way to go, at what point in my business' growth do I need to switch to employees?
Hello sir please I own a LLC for a month now and am a NON US 🇺🇸 resident my services a web hosting and website building working on adding vpn services m’y LLC was registered in DALWARE so will I pay taxes for this services caused I made some research 🔬 n it was like I will not please help me
I'm a truck driver hired by a small company. No contract. Only verbal. He controls everything. Time ,jobs, everything. But he has me as a 1099. What can I do. I feel I'm getting F'ed.
A few questions: Are you able to work for someone else if you choose to, like getting some other driving gigs? Do you own the truck you drive? Are you getting paid at least minimum wage when you do work for this person? The fact that you don't even have anything in writing and yet continue working for that person is evidence that you are choosing to stay in that dynamic, so it does not help your case that you're being f'd.
@@therealkakitron 1. I don't own the truck 2 . No time for working for anyone else .3. Yes above min. Wage. 55/mile. + 50$ per extra stop. But that's it for verbal contract. Yet... I seem to make more. He's pays extra as he feels. Or as he said " if I make money you make money" . In an accent.
@@irri4662 you’re an employee because you don’t bring your own stuff everything is provided for you even to down to pay per hour so a hourly, that IS AND SOUNDS like a job he could only 1099 you if he says I need you only for 3 months so forth and so on, basically he’s withholding your benefits and expects YOU to pay them and YOU pay personal income taxes since YOURE NOT his EMPLOYEE. I’m not yelling I just think it’d be easier to follor
Idk man, for seasonal employees on holiday season i'd go through an agency. They're only going to be temporary workers and with an agency (though you pay a premium), workers are already partially trained and experienced on what you need them for.
Your content is so timely engaging and helpful. Have you taught professionally before?
Your videos are AMAZING! I'm opening my own law firm and this information is super invaluable.
Your contents are literally GOLD
I am committed to self-development & thriving.
If an individual works under your direction during the process of creating a product or service: employee. If an individual works under their own direction while creating a product or service and you pay only for the end result: contractor. I don't get why this is so hard for some people and companies to grasp. Employees are in a governing/governed parental relationship while contractors are in a mutually equal transactional relationship.
Man I want to thank you so much my guy!! You have help me so much through my entrepreneurship process!! God bless!!
Episode idea for you . When a person starts looking into all the aspects of starting a business , be it selling goods or service , you need to get paid . What options are there and what are the pros and cons of each ?
How does this not have more views!?
Literally every question i had was answered in this video
I loved the practice questions at the end very engaging!thank you for the information Karlton
What if you 1099 someone per project, which is by nature very specific, but they're so good at it that they're the one doing all your projects?
you content is always engaging..
I have learned a lot from this video. Thanks a Bunch!
Learned a lot from this and I got all the answers right!! Thanks👍
Thanks!
KD!! Another great video
Your videos are fantastic
I was a 1099 employee.... My employers always gave me 1099's... In the trade work business
Just started my LLC. Just what so need to know.
Can I use Melio to liquidate my credit cards?
Can you have both ??
The economic hardship , recession , unemployment and the loss of job caused by covid pandemic is enough to push people into financial ventures .
I have secured financial freedom by investing in bonds , equities , EFT's and some digital currencies .
Absolutely right, I got 70% of my total portfolio in crypto and I have been making good profits.
I wanted to invest more in crypto, but the fluctuations in crypto value discouraged me into dumping.
Wow 😮I’m just shocked you mentioned and recommended Mr. Nicholas howard I thought people don’t know him, he is really awesome.
I Heard his platform is an international company where he helps people trade and pays them their profit on a weekly basis. It's very beneficial.
Thanks bro 🔥🛠
Appreciate the video..
Hold on questions, I am a mechanic working at a shop who provides my own tools, can I be a independent contractor?
Nice content. How do I know how to classify as contractor or employee as required by law?
One question i do have, as a business owner of retail store what would you recommend filing as a 1099 or W2
Hi Karlton,
Do I need a certain number of employees to transition into W2?
Does anyone know of an easy way other than qb for contractors to receive payments from clients I deal with high amounts so zelle and stuff doesn't work? Chase ach is putting 5 day holds makes it hard to pay subs
Write a check
@@enhancedbeautyskin6374 I wish it was still like that, been in the business 19 years and this is the first time we're having this problem, none of our clients use checks anymore and they don't want to go to banks to get 1
so if I need someone working from 8 to 5 Monday -Friday for 1 year possibly extended for 1 more year on IT business it would be W2?
but in this case there is a specific time-frame so it could be also classified as 1099.
Cool
Question! I run a small service based LLC. Emphasis on the small. we only meet up for a job 1 to 3 times a week and jobs only last 3 to 6 hours. 1099 contractor or W2 employee? If 1099 contractor is the way to go, at what point in my business' growth do I need to switch to employees?
Hello, On Milio, can I choose the Payment be made from my credit card, not necessary from my bank card?
Using company card to buy materials and working when told... sounds like should be w2 employee
Super helpful! I had no idea an SS8 was an option.
Helpful! Thank you.
great video! you make tax content exciting to learn! and thank you for the example scenario quizzes towards the end! :))
Very informative video. You're really good at explaining this. Thx so much!!
Hello sir please I own a LLC for a month now and am a NON US 🇺🇸 resident my services a web hosting and website building working on adding vpn services m’y LLC was registered in DALWARE so will I pay taxes for this services caused I made some research 🔬 n it was like I will not please help me
Wow another awesome video. Please continue uploading this videos. i am learning everytime i watch your videos.
Who is your videographer? TIA
Sounds like the lawsuit Uber had against them 🤔
I'm a truck driver hired by a small company. No contract. Only verbal. He controls everything. Time ,jobs, everything. But he has me as a 1099. What can I do. I feel I'm getting F'ed.
Leave ASAP. That’s misclassification and illegal
A few questions:
Are you able to work for someone else if you choose to, like getting some other driving gigs?
Do you own the truck you drive?
Are you getting paid at least minimum wage when you do work for this person?
The fact that you don't even have anything in writing and yet continue working for that person is evidence that you are choosing to stay in that dynamic, so it does not help your case that you're being f'd.
@@therealkakitron 1. I don't own the truck 2 . No time for working for anyone else .3. Yes above min. Wage. 55/mile. + 50$ per extra stop. But that's it for verbal contract.
Yet... I seem to make more. He's pays extra as he feels. Or as he said " if I make money you make money" . In an accent.
@@irri4662 you’re an employee because you don’t bring your own stuff everything is provided for you even to down to pay per hour so a hourly, that IS AND SOUNDS like a job he could only 1099 you if he says I need you only for 3 months so forth and so on, basically he’s withholding your benefits and expects YOU to pay them and YOU pay personal income taxes since YOURE NOT his EMPLOYEE. I’m not yelling I just think it’d be easier to follor
@@irri4662 the IRS don't respect VERBAL contracts and neither should YOU
Nice glasses
Great presentation
Idk man, for seasonal employees on holiday season i'd go through an agency. They're only going to be temporary workers and with an agency (though you pay a premium), workers are already partially trained and experienced on what you need them for.