I’ve been a CPA, Tax Strategist and business owner for over 2 decades now. That gives me a unique perspective when it comes to business. One of the things that I talk about a lot with my clients is how to reduce costs (ie, taxes) and increase benefits to business owners.
Here are a few of the reasons why you might want to consider growing your business w/ independent contractors:
Reason #1: It’s easier to ramp up your business. You can contract with Independent Contractors for short-term, month-to-month or just by project.
Reason #2: It’s easier to change focus if your business has been built with Independent Contractors.
Reason #3: Quality improves with an Independent Contractor.
Reason #4: Independent Contractors are value focussed, Employees are time focussed
Those are just a few of the reasons why I like having my clients use Independent Contractors rather than employees and I haven’t even gotten into all the benefits plans you can put in place to benefit you and your family.
The IRS would love to prove you wrong, though, if you use Independent Contractors (IC). The IRS attacks are heating up and that’s why I’ve spent the last month researching cases. I was surprised to find how many times the IRS has lost recently. That’s good news for you if you have, or want to have, ICs instead of employees.
Please look for more information on what it takes to LEGALLY win the Independent Contractor argument. It’s not enough to have an IC agreement, but you must have one to even have a chance of winning.