Do you know the difference between an Employee and a Independent Contractor? You Should! Find out more inside to save yourself time and headache from the upcoming changes.

Should Your Next Hire be an Employee or a Contractor?

 

In our role as human resource consultant to small - medium size businesses we are frequently asked to develop their staffing plan.  The first question is always "are you interested in employees or contractors"?  Many reply "contractors, we rather not "hassle with employees and all the regulations that go with hiring employees".  

 

The second question, "if you are interested in contractors, then you are thinking part-time? They can set their own schedules, have other clients, correct?" You guessed it, the answers to the last two inquiries is "well not really, we would like set schedules, we don't want their schedules competing with other clients, especially if they are our competitor".  Most certainly these are business owners unfamiliar with the difference between employee and contractor.  

 

We would like to share with you an SBA quick reference document that helped us build our workforce. 

 

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Meet the team! Rick Draker is the Chief Operating Officer for Draker Cody Inc. and has more than 30 years experience in operations management, organizational structure and project management for business, not-for-profit organizations and government entities. Rick's areas of expertise include detailed work flow analysis, business process reengineering, strategic plan facilitation, and developing business growth strategies. 

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4 Ways Congress can Make Tax Compliance Easier for Small Business

By: Kent Hoover, Washington Bureau Chief

 

Complying with the federal tax code is such a burden for small businesses that two committees of Congress held overlapping hearings Wednesday on the issue.

 

The Senate Small Business and Entrepreneurship Committee and the House Small Business Committee heard from small businesses and tax practitioners about the problems posed by the current tax code, and what could be done to fix them. Here are four ways to make paying taxes easier for small businesses: 


 

Simplify the tax code


 
The Internal Revenue Code is complicated, and it's getting more so every day. Since 2001, there have been 5,000 amendments to the tax code, according to Donald Williamson, executive director of the Kogod Tax Policy Center at American University.

 

The resulting complexity has overwhelmed not only small businesses, but also their tax practitioners. That's led to "steady increases in fees these advisers charge to their small business clients," Williamson said.

 

Small businesses now pay about $16 billion a year to professionals to help them comply with the tax code. Tax-related issues account for five of the top 10 problems reported by small businesses, according to the National Federation of Independent Business.


 
A complex tax code gives an advantage to large businesses, which have the resources to lobby for specific tax breaks and analyze how various tax provisions affect them and their markets.

 

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Sandy Cody | DrakerCody, Inc. | (505) 323-1415 | Email | Website
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