Independent contractors are self-employed, and they are any individual or business that does work for another party at a specified rate. An individual who is an independent contractor is not an employee for any business. Instead, the contractor does whatever work is stated within the contract, and once the job is finished, the person is free to go work with other organizations. Someone working as an independent contractor is subject to pay a self-employment tax as long as they make more than $600 for any one business. Income taxes are not withheld from an independent contractor’s paychecks. Numerous professions can qualify as independent contractors, including auctioneers, accountants, doctors, veterinarians and many more.
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