A LAST LOOK

Earnings of over $600 to independent contractors must be filed with the IRS and given to the individual on a Form 1099 MISC - Miscellaneous Income.

If this is overwhelming there is more help at sites such Business Tax Filing Network.

AUTOMOBILE INSURANCE

Check with your insurance agent to be certain your employees are adequately covered when driving your business vehicle. If you have only a personal vehicle, ask what is covered if an employee uses it. Also, when asking an employee to drop off that order for a customer who lives "on the way home" for the employee, the employee might not be covered in case of an accident. Ask about your agent about "non-owned auto liability." Sometimes looking at various company sites and reading their on-line information can give you hints as to what to do. For instance this site gives you hints on Employer-Provided Automobiles.

WORKMEN'S COMPENSATION

Protect your business with Workmen's Compensation. This provides benefits to employees when they are injured on the job. It doesn't matter whose fault the accident is, the employee can have recourse if injured while working for your business. Access your state's site on Workers' Compensation Agencies

Come back next time and read about the different ways of "PRICING" your crafts.
 
 

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