Freelance Vs. W-2

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Hello BizWarriors 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
 
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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.
 
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Hi Isaac!

You should not be paying anyone under the table. This can 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.
Thanks TJ!
 
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Well i think freelancer is more suitable for payment in this case because you can also help to build profile of that freelancer and your company and you will be more secure in term of payment.
 
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