Illinois Determining Self-Employed Independent Contractor Status

State:
Multi-State
Control #:
US-AHI-075
Format:
Word; 
Rich Text
Instant download

Description

This AHI checklist is used to determine the status of an independent contractor. The form is based on the IRS form SS-8.
Free preview
  • Preview Determining Self-Employed Independent Contractor Status
  • Preview Determining Self-Employed Independent Contractor Status
  • Preview Determining Self-Employed Independent Contractor Status
  • Preview Determining Self-Employed Independent Contractor Status
  • Preview Determining Self-Employed Independent Contractor Status

How to fill out Determining Self-Employed Independent Contractor Status?

Are you in a circumstance where you frequently require documents for business or particular purposes on a daily basis.

There are numerous official document templates accessible online, but finding ones you can trust is challenging.

US Legal Forms provides a vast array of template options, including the Illinois Determining Self-Employed Independent Contractor Status, which are crafted to comply with federal and state regulations.

Select the pricing plan you wish, complete the necessary information to create your account, and pay for your purchase using PayPal or credit card.

Choose a convenient file format and download your copy. Access all the document templates you have purchased in the My documents section. You can download another copy of the Illinois Determining Self-Employed Independent Contractor Status at any time if needed. Just select the desired template to download or print the document format.

  1. If you are already familiar with the US Legal Forms website and have an account, simply Log In.
  2. After that, you can download the Illinois Determining Self-Employed Independent Contractor Status template.
  3. If you do not possess an account and wish to start using US Legal Forms, follow these steps.
  4. Obtain the template you need and ensure it pertains to the correct city/region.
  5. Utilize the Review button to evaluate the form.
  6. Read the description to verify that you have selected the right template.
  7. If the template does not meet your needs, use the Search box to find the form that fulfills your requirements and criteria.
  8. Once you identify the correct template, click on Purchase now.

Form popularity

FAQ

The independent contractor is responsible for paying his own income taxes, Social Security and Medicare taxes. If the person is determined to be an employee but you have treated him or her as an independent contractor, it can be a costly mistake for your business.

What Is an Independent Contractor? An independent contractor is a self-employed person or entity contracted to perform work foror provide services toanother entity as a nonemployee. As a result, independent contractors must pay their own Social Security and Medicare taxes.

Four ways to verify your income as an independent contractorIncome-verification letter. The most reliable method for proving earnings for independent contractors is a letter from a current or former employer describing your working arrangement.Contracts and agreements.Invoices.Bank statements and Pay stubs.

All work required of the contract is performed by the independent contractor and employees. Independent contractors are not typically considered employees of the principal. A "general contractor" is an entity with whom the principal/owner directly contracts to perform certain jobs.

To set yourself up as a self-employed taxpayer with the IRS, you simply start paying estimated taxes (on Form 1040-ES, Estimated Tax for Individuals) and file Schedule C, Profit or Loss From Business, and Schedule SE, Self-Employment Tax, with your Form 1040 tax return each April.

The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. If you are an independent contractor, then you are self-employed.

Paying yourself as an independent contractor Independent contractor pay allows your business the opportunity to stay on budget for projects rather than hire via a third party. As an independent contractor, you will need to pay self-employment taxes on your wages. You will file a W-9 with the LLC.

As an independent contractor, you may have more freedom to choose how you complete your work, but you are responsible for paying your own taxes, getting your own health insurance, and paying into unemployment and workers comp funds if you wish to access those benefits.

Becoming an independent contractor is one of the many ways to be classified as self-employed. By definition, an independent contractor provides work or services on a contractual basis, whereas, self-employment is simply the act of earning money without operating within an employee-employer relationship.

Trusted and secure by over 3 million people of the world’s leading companies

Illinois Determining Self-Employed Independent Contractor Status