Employee Status Is Always Better Than Independent Contractor Status for a Taxpayer

question 173

True/False

Employee status is always better than independent contractor status for a taxpayer because the employee is responsible for paying the employee portion of the FICA taxes.

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Definitions:

Usurious Interest

refers to the charging of excessively high or illegal rates of interest on loans.

Forfeit

To lose or give up something as a penalty for wrongdoing or failure to comply with certain conditions.

Legitimate Interest

A recognized reasonable ground that an organization may have for processing personal data without needing consent under certain data protection laws.

Injunction

A court order requiring an individual or entity to do or cease doing a specific action.