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The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
Hiring and retaining talent continues to be a struggle for many small businesses. As mandates surrounding the COVID-19 pandemic continue to ease across the United States, 49% of small businesses...
Small companies, those with fewer than 250 employees, accounted for nearly 80% of the 10.3 million job openings. Small businesses are optimistic for 2023 despite ongoing hiring troubles [Video ...
Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...
Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
For example, a Massachusetts law [38] states that companies can hire independent contractors only to perform work that is "outside the usual course of business of the employer," meaning workers working on the company's core business must be classified as employees.
Small business owners in diverse industries express that TikTok has transformed their businesses. Felicia Jackson, owner of CPR Wrap, stated that TikTok has driven over $300,000 in sales in just ...