How to Pay Your Team as a Business Owner: 1099 vs W-2 (Part 3)

🔥 BOOK FREE TAX CONSULTATION https://schedule.lyfetaxes.com/discoveryapplication?video=QvVoXeA7eOo In this video, I break down the differences between hiring a 1099 independent contractor versus a W-2 employee. Understanding "1099 vs w2" is crucial for business owners to make informed decisions and avoid worker misclassification penalties. I'll illustrate with an example how tax considerations differ for "independent contractor taxes" compared to W-2 employees, and why knowing "employment law" is vital for small business taxes. Save this video, hit the like button, and let's jump right in. Watch Part 1: https://youtu.be/3G-lzqC6IX0 Watch Part 2: https://youtu.be/T1d14aj3FwA Subscribe: https://bit.ly/2HJlq46 Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos! /// Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).