Ohio Worksheet - Contingent Worker
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FAQ
For instance, contingent workers' tax liability and reporting fall under a 1099-M instead of a W-2. The worker is responsible for the employment taxes generally covered by an organization for a traditional employee.
Contingent workers are individuals hired by a company to do role- or project-based work on its behalf, but not as traditional employees. They could include independent contractors, consultants, freelancers, temps, or other outsourced labor such as gig workers.
Work environment Both contingent and contract employees may have more flexibility in their schedule and may choose when they want to work. They're not full-time employees, but they work on a project-to-project basis. Companies hire them because of their skills and expertise for a specific project.
Contingent workers include independent contractors, freelancers, consultants, advisors or other outsourced workers hired on a per-job and non-permanent basis.
A contingent workforce increases flexibility. When there's a sudden increase of projects or a new task arises that would highly benefit the company, a contingent worker can be hired to bridge the gap and ensure there are enough people to complete all necessary tasks.
The U.S. Department of Labor defines contingent workers as independent contractors or freelancers as opposed to contracted employees. When a company hires an employee on a permanent or temporary basis, it becomes responsible for ensuring that taxes are deducted and paid for the employee.
1099 Independent ContractorsThese contingent workers are self-employed and are not employees; therefore, companies are not responsible for the withholding, collecting or paying of taxes nor any other payments afforded full-time employees or Temporary W2 workers.
Employees: Workers are employed directly by the company for which work is performed. Contingent workers: Workers are provided by a staffing firm to the company for which work is performed and are employees of the staffing firm.
If your client wants to hire a contingent worker, they generally do not need to handle employment taxes. Contingent workers who are independent contractors are responsible for paying their own taxes because they are self employed. Contract workers are on the Employer of Record's payroll, not your client's.
Instead of receiving a W-2 for tax filing purposes, contract employees receive Form 1099. This is the form you submit along with Form 1040 for filing your taxes. Unlike an employee who has payroll taxes deducted from his paycheck, a contract employee is responsible for paying his own taxes.