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Aug 2019The Breakdown: Payroll Wages & Taxes Edition
If you’re considering hiring employees, it’s critical that you understand the payroll tax obligations that you have as an employer. With all the confusion surrounding how payroll taxes works, failing to report taxes correctly can result in major issues with the IRS – so it’s worth it to have a basic understanding. But have no fear, this article is going to break down exactly what…
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May 2016Worker’s Compensation- Is It Absolutely Necessary?
Worker’s compensation insurance is a required, state-specific law that provides employees monetary relief in the event of any injuries or accidents that occur as a result of employment. In California, employers are required to have worker’s compensation for their employees under Labor Code Section 3700 even if they only have one; employers are not required to obtain worker’s compensation for independent contractors whose services are enlisted by the employer. However, it…
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Feb 2016Do You Know The Difference Between An Employee And An Independent Contractor?
It can get a little tricky sometimes in determining whether someone you consistently hire to perform services for your business is an employee or an independent contractor; not to mention keeping track of the difference in tax treatment between the two. Have no fear, Paragon is here to break it down for you! Employees are defined by the IRS as “anyone who performs services for…