CAS Training: Independent Contractors vs Employees

Overview

You could pay $0 for this course!
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1147705. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

As gig workers, remote employees, and hybrid working environments have become more commonplace, the tax rules pertaining to independent contractors and employees have become more complex. If someone can work whenever they want, are they still an employee? How are expense reimbursements reported? And most importantly, what happens if a contractor should really be classified as an employee? In this course, we will discuss these issues, as well as some common tax reporting issues. Finally, we will discuss recent tax legislation in this area, including changes to the electronic filing requirements.

Highlights

- Tax, Retirement, & Administrative Implications of Employee Misclassification
- Factors the IRS uses to determine employees and independent contractors
- Overview of the IRS VCSP Program
- Overview & Key Areas of Forms W-4, W-9, & I-9
- Types of 1099s & Specialized Reporting – Scholarships/Stipends, Legal Payments, Expense Reimbursements
- Recent tax changes on Form 1099 including electronic filing rules

Designed For

Tax practitioners, small business owners, and other accountants looking to serve their companies or clients in the area of payroll services

Objectives

• Recall the 20 factors that the IRS uses to determine employees versus independent contractors

• Identify the basic tax forms needed when hiring employees and independent contractors

• Recognize the different types of 1099 forms

• State the tax implications of scholarships

This event is part of the following bundles:

Client Advisory Services Bundle

Multiple Events Between Tuesday, October 1 - Wednesday, October 9

Eligible for 7.00 Credits

Member Price: $219

You could pay $0 for this course!This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1147717. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

Fees

Credits

Level

Fields of Study

Leader(s):

David Peters, American Institute of CPAs

Leader Bios

David Peters, American Institute of CPAs

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA, as well as a Financial Advisor for Carroll Financial Associates in Charlotte, NC. He has over 14 years of experience in financial services, including 3 years in the hedge fund industry and 6 years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com, a position he held for over 3 years. He is an Adjunct Professor in Accounting & Finance at Winthrop University in Rock Hill, SC, and a National Instructor for the AICPA. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the US. He holds four masters’ degrees and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. David was also a co-author of the 2018 Virginia CPA Ethics course—a required course for all CPAs licensed in the Commonwealth of Virginia. Registered Representative of and securities offered through Cetera Advisor Networks, LLC, Member SIPC/FINRA. Advisory services offered through Carroll Financial Associates, Inc., a Registered Investment Advisor. Carroll Financial and Cetera Advisor Networks, LLC are not affiliated

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