Podcast Episode 40: Do I Need to Hire an Employee, Independent Contractor or Freelancer?

You know you need to hire someone to help you in your business. You ask around in Facebook Groups who people have hired and how have they worked out. You look for recommendations all over the Internet and you realize that you don’t just have to understand what responsibilities this person will have but the […]

September 24, 2022

READY AIM EMPIRE : Podcast Episode 40: Do I Need to Hire an Employee, Independent Contractor or Freelancer?

You know you need to hire someone to help you in your business.

You ask around in Facebook Groups who people have hired and how have they worked out.

You look for recommendations all over the Internet and you realize that you don’t just have to understand what responsibilities this person will have but the TYPE of hire they are.

In my past business of owning yoga studios, there were lawsuits all the time about independent contractors actually being eligible for being unfairly targeted. They should’ve been employees according to the law.

This is scary stuff and you really don’t want to be messing around here.

There are significant differences between employees, independent contractors and freelancers.

Employees – As an employer, you can control what they do and how they do it. You also are required to pay the taxes on this employee and deliver benefits like insurance, retirement, etc…

Independent Contractors – These folks are trading their services for your money. You can’t control their hours, what the results of their work should be and how they should do it. You aren’t required pay taxes on this individual nor benefits. Independent contractors normally work with 1-2 people for generally a long time

Freelancers – This person is strictly a “by the hour” service-based business on projects for multiple clients. Like Independent Contractors, you can’t control their hours and how they do things. You also aren’t required to pay taxes on them.

Listen into Episode 040 and you’ll learn:

  • How the IRS defines “employee” and “independent contractor”
  • What are the “common law” rules of an employee?
  • About enforceable non-competes
  • What is a non-solicitation clause and how that affects both independent contractor and your clients?
  • There are different laws and regulations for hiring employees in different states across the United States
  • What is a Factor 20 Test?

Join my Ready Aim Empire tribe to find incredible insights from other entrepreneurs and share your own takeaways!

With grit + gratitude,

Xo Lisé

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