Independent contractors play a significant role in the U.S. economy, at least for now. From your cab driver to your food delivery person, you interface with independent contractors every day. You might even be an independent contractor. Even I’m an independent contractor!
Unlike employees, independent contractors remit tax payments on their own. I’ll say that at least two more times in this article because it’s just that important. Here’s how you pay taxes as an independent contractor.
Overview: What is an independent contractor?
Independent contractors are one-person businesses that provide goods and services to clients for a fee. People and companies engage independent contractors for a specific work purpose, relying on their expertise to complete the work.
Whereas employers can have significant control over their employees’ work processes, a business cannot dictate how and what its independent contractors do to achieve the business’s desired result.
The U.S. government has been