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:

Small-Business Failure

A situation where a small-sized business is unable to continue operation due to financial, managerial, or market-related problems.

Lack of Funds

A situation where there is an insufficient amount of financial resources available to meet the demands or objectives of a project or entity.