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INDEPENDENT CONTRACTOR AGREEMENT This contract is for professional services on the engagement described below, made this day: ___between the undersigned Middlebury College (Purchaser or the College)

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How to fill out independent contractors

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Determine if the individual meets the criteria to be classified as an independent contractor.

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Obtain a W-9 form from the independent contractor for tax purposes.

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Create a contract outlining the terms of the agreement including scope of work, payment terms, and duration.

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Keep accurate records of payments made to the independent contractor for tax reporting purposes.

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Ensure compliance with all labor laws and regulations when working with independent contractors.

Who needs independent contractors?

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Businesses looking to outsource specific tasks or projects without hiring full-time employees.

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Businesses seeking flexibility in staffing without the long-term commitment of hiring employees.

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Individuals or organizations in need of specialized skills or services on a temporary basis.

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What is independent contractors?

Independent contractors are individuals who are hired to perform a specific task or project for a company, but are not considered employees.

Who is required to file independent contractors?

Employers who hire independent contractors and pay them $600 or more during the year are required to file Form 1099-NEC with the IRS.

How to fill out independent contractors?

You can fill out Form 1099-NEC to report payments made to independent contractors. Make sure to include the contractor's name, address, and taxpayer identification number.

What is the purpose of independent contractors?

The purpose of hiring independent contractors is to bring in specialized skills or expertise for a specific project without the long-term commitment of hiring a full-time employee.

What information must be reported on independent contractors?

You must report the total amount paid to the independent contractor during the year, as well as their name, address, and taxpayer identification number on Form 1099-NEC.

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