Tagged: WriteOff

Paying Workers – What Can You Write-Off?

Paying Workers – What Can You Write-Off?

Paying Workers – What Can You Write-Off? As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor. Independent Contractor Whenever possible, you want to use independent contractors to assist you. Payments to independent contractors are completely deductible. You simply claim the deduction on your return. If you pay them more than 0 during the tax year, you also must issue a 1099-MISC in January of the following year. Importantly, you...