Industry News

Independent vs. dependent contractors

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: Meet Teresa Boardman at the upcoming Real Estate Connect conference in San Francisco, which runs from Aug. 5-7, 2009. She will be available to meet with conference attendees from 12:30 p.m. to 1:30 p.m. in the Palace Hotel's Ralstom Room. Click here to send Teresa a message. Are you self-employed? It amazes me how many self-employed real estate agents do not act at all like they are self-employed. Most real estate agents are independent contractors. To the Internal Revenue Service, the tax form defines whether a whether a worker is an employee (W-2 form) or independent contractor (1099 form). The IRS says that entities engaging independent contractors have the right to control or direct the result of the work and not the means and methods of accomplishing the result. There are some other differences, too. Sometimes employees get health insurance and paid vacations and sick leave. Independent contractors do not get any of those things. Agents like to s...