Build to Enough

California recently amended their laws, requiring rideshare service providers like Uber and Lyft to classify their drivers as employees instead of contractors. Choosing the correct classification for people who do work for you is extremely important when it comes to reporting what you pay out to your team. This week we explore ways to identify and classify your people to ensure accurate reporting, protecting all parties involved.

Show Notes

So, you’ve reached the point in your entrepreneurial journey where you need help to function effectively. You find the perfect candidates, offer them the job, onboard them and they’re ready to get to work...and get paid. 

This week we discuss the two classifications of people who do work for you - independent contractors and employees. It is in the best interest of the employer to keep as many contractors on their team as they can. Employees tend to be more expensive, as they’re eligible for benefits (health insurance, retirement, stipends, and other perks) in addition to their agreed upon base pay. Even though contractors are easier to pay than employees, you can’t just classify everyone as such simply because it’s less taxing, literally and figuratively. 

Questions to ask in making the determination:
•Does your company control or have the right to control over when and how the worker does the job?⁣⁣
• Does the company require that the worker show up to perform the work at a specific site or office location?⁣⁣
• Will the worker receive benefits?⁣⁣
• Is the work engaged for a specific time period?⁣⁣
• Is the worker an individual or a business (including LLCs)?⁣⁣
• Can the worker take on other work outside of the work your company is requesting?⁣⁣

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Creators and Guests

Host
Keila Hill-Trawick, CPA, MBA
Helping entrepreneurs create and maintain the business they want | Building to Enough | LinkedIn Top Voice | Intuit Partner Council | Accounting Firm Owner

What is Build to Enough ?

Little Fish Accounting presents Build To Enough. The pursuit of endless growth and scaling can leave entrepreneurs feeling burned out and unfulfilled. This podcast explores how to build sustainable, purpose-driven businesses that align with your lifestyle and values, rather than defined by rapid expansion alone. On this show, we’ll reframe definitions of success, provide strategies for structuring companies around desired lifestyles, and share stories of entrepreneurs finding deeper fulfillment by focusing on “enough.” Join us as we discuss moving off the hamster wheel and building businesses with balance and meaning.