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Freelance Vs. W-2

Discussion in 'Legal Aspects of Running a Business' started by Isaac Kieffer, Jul 18, 2016.

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  1. Isaac Kieffer

    Isaac Kieffer Member

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    Hello EntrepreneurFix community!

    I am currently paying employees under the table and wish to do things more legit so I can scale and build a structure that will be more organized. My questions is in regards to paying employees and which way could be more beneficial for me the employer and my employees. I currently work with someone in another business venture where I pay him an hourly wage for work and I get to write off the payments through a freelance website. This way I can calculate his wage and pay a small fee. With a W-2 it seems to be more complicated and cost more. Does anyone know the pro's and con's of using each source?

    Thanks, Isaac
     
    T J Tutor likes this.
  2. T J Tutor

    T J Tutor Member

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    Hi Isaac!

    You should not be paying anyone under the table. This can create problems for you down the road. As for freelancers, I recommend using as many freelancers as possible. Not eveyone can be a freelancer, but it is an advantage for you to use them as it limits your tax liabilities.
     
    Last edited: Jul 19, 2016
    Isaac Kieffer likes this.
  3. Isaac Kieffer

    Isaac Kieffer Member

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    Thanks TJ!
     

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