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If a Business Retains Someone to Provide Services, That Person

question 86

Essay

If a business retains someone to provide services, that person may either be an employee or be self-employed (i.e., independent contractor).
a. What are the tax advantages to the business of having the service provider classified as self-employed?
b. What are the advantages and disadvantages to the service provider of self-employed status?


Definitions:

Expressed

The act of conveying or revealing thoughts, feelings, or emotions verbally or through body language, often reflecting a personal or collective viewpoint.

Environmental Influences

The impacts of external factors from one's surrounding environment, such as society, culture, and physical surroundings, on an individual's behavior, decisions, and well-being.

Epigenetic Mark

Chemical modifications to DNA or histone proteins that affect gene expression without altering the DNA sequence.

Environmental Influence

Factors in an individual's surroundings that impact their development, behavior, and lifestyle.

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