Just to be clear, the total savings may not be as much as you think. Withholding from payroll consists of income taxes and FICA taxes (SS & Medicare). As an employer you matched his FICA taxes and as a subcontractor he pays the whole load less a few points on his personal tax return. So the taxes are pretty much the same except for unemployment agency taxes. So you save those and you save the payroll service and you save on WC insurance. Still cheaper the way you are doing it now. HTH, Dave H CPA (MI)
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Today's Featured Article - Bad Vibes - by Curtis Von Fange. One of the strangest ways to communicate with our tractor is to ask it how it feels. "Ask it how it feels," you say? Yup, ask it how it feels. Now, as with the other articles in this series one has to be able to hear what 'ole blue' is trying to say in response. The nice thing about our old iron friends is that they are usually quite consistent in their response, rather unlike some people I know who might change what they say due to the weather or other mitigating circumstances. But since t
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