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Post by freshstart216 on Nov 24, 2008 18:36:55 GMT -5
Recently started a commercial cleaning company and wondering when I hire help how I should pay them, should I put them on payroll as my employee or should I 1099 them at the end of the year? Little confused at what this actually means to me as the employer. Another tax question I have is if I do all of the work and do not hire any other employees what am I required to file? I have an LLC so I just put it on my personal taxes correct? I know I should consult an accountant but just want to put this out there from some one who has been through it and what is the best way to go to put more money in my pocket as a business owner. Thank You Ray
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Post by Kevin on Nov 25, 2008 9:20:55 GMT -5
Put your employees on payroll. Now one of the smartest decisions I ever made was cleaning and accountant`s office, in trade for taking care of the books. My advice for all accounting and tax issues is seek the help from a professional. We do not have the time to stay upto date on every changing tax issues, that`s what good accountants do, let them do their work. Good article here though: www.entrepreneur.com/money/moneymanagement/article80024.html |
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Post by sparklingsolutions on Dec 18, 2008 0:25:19 GMT -5
Put them on payroll. If you 1099 then they are like contractors and the problem with a lot of contractors they just don't care as much. Also I know alot of people do this so they don't have to worry about insurance and taxes. I have years of experience in the transportation field and I have learned that employees care more.
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Post by sparklingsolutions on Dec 18, 2008 0:25:28 GMT -5
Put them on payroll. If you 1099 then they are like contractors and the problem with a lot of contractors they just don't care as much. Also I know alot of people do this so they don't have to worry about insurance and taxes. I have years of experience in the transportation field and I have learned that employees care more.
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