Understand the Distinction and IRS Guidelines

What happens here

The video opens by stressing the importance of correctly distinguishing between an independent contractor and an employee, especially within industries like construction where misclassification is common. The speaker introduces the IRS 20-factor checklist as a critical tool for this determination, emphasizing the potential for confusion, particularly when engaging individuals on a regular basis. He mentions Jeff, a tax professional, who will elaborate on these distinctions.

Goal: Grasp the fundamental difference between employees and subcontractors as defined by the IRS.