This is a contract between a school or other employer and a teacher or teaching related professional whereby the employer hires the professional as an independent contractor for a set period of time.
Wyoming Educator Agreement - Self-Employed Independent Contractor
State:
Multi-State
Control #:
US-INDC-12
Format:
Word;
Rich Text
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How to fill out Educator Agreement - Self-Employed Independent Contractor?
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FAQ
Simply put, being an independent contractor is one way to be self-employed. Being self-employed means that you earn money but don't work as an employee for someone else.
Independent contractors are self-employed workers who provide services for an organisation under a contract for services. Independent contractors are not employees and are typically highly skilled, providing their clients with specialist skills or additional capacity on an as needed basis.
Independent contractors report their income on Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship). Also file Schedule SE (Form 1040), Self-Employment Tax if net earnings from self-employment are $400 or more.
Simply put, being an independent contractor is one way to be self-employed. Being self-employed means that you earn money but don't work as an employee for someone else.
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.
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.
A 1099 employee is a US self-employed worker that reports their income to the IRS on a 1099 tax form. Freelancers, gig workers, and independent contractors are all considered 1099 employees.
Remember that an independent contractor is considered to be self-employed, so in effect, you are running your own one-person business. Any income that you earn as an independent contractor must be reported on Schedule C. You'll then pay income taxes on the total profit.
The difference between contracting and employing your instructors. Independent contractors are responsible for paying their own state and federal income taxes after receiving full payment from your studio. When an instructor has employee status, you are required to withhold federal, social security and Medicare tax.