There are several major life events that affect your tax situation and usually require adjustments on withholdings. Quite often people are caught by surprise with a tax liability following such an event. As our lives are constantly changing, it is important to address a list of things that can influence your tax situation.
In today’s workforce, companies often rely on a mix of employees and independent contractors to achieve their business goals. However, it’s crucial for employers to understand the differences between 1099 contractors and W-2 employees, and more importantly, the implications of misclassifying them.
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