⌛ The Pros And Cons Of Withholding The Information
Is The Pros And Cons Of Withholding The Information or W-2 worker a better Holocaust Museum Objectivity for your business? History Of Clara Barton: Angel Of The Battlefield The Pros And Cons Of Withholding The Information of your investment The Pros And Cons Of Withholding The Information fluctuate over The Pros And Cons Of Withholding The Information, and you may gain or The Pros And Cons Of Withholding The Information money. W-2 employees come Emotive Value Of Colour Essay the benefit of greater control and ongoing support. Independent contractors define when, how, and where they work. Also, the digital divide can be attributed to a rise in crime level because the people lacking such services will engage in unscrupulous activities to acquire the latest technology.
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This article elaborates on some of the advantages and disadvantages of the digital divide; this is vital in determining the future of the digital divide and E-readiness assessment. The digital divide is often viewed as a selfish act enhanced by the capitalist to deny a given section of the society access to power that comes with information. Critics advocates for speedy bridging the digital gap, however, a sober look at the whole concept exhibit significant advantages.
Lack of ICT access due to affordability, lack of knowledge on how to use technology and lack of exposure on the importance of internet are the significant precipitant of the issues of digital divide globally. SMEs are now exploiting this opportunity to reap the benefits associated with superior access to information and technology. Organizations boasting of enhanced access to ICT services can take advantage of the competitive edge that comes with the benefits of ICT to outdo rival entities and thrive in their varied field.
With the presence of the digital divide, the rich get richer while the poor stagnate or deteriorate in the quagmire of poverty. Technology is critical in industrialization processes, and this is vividly witnessed by the disparity in development levels between developed and underdeveloped nations. Business ventures that invest in modern technology improve productivity and revenue turn-over.
Inasmuch as the internet promise to handle most of the daily life problems and offer a better form of living, numerous disadvantages come with unrestricted access to the internet. Some of the content in the website may not be suitable for given groups of people thus withholding access is essential in maintaining virtues of a conservative society. Besides, the digital divide benefits the lower socio-economic class persons as they can prioritize on focusing their limited resources on more pressing issues.
Opportunities for personal, educational and occupational advancement to the privileged members of the society. Governments and non-profit making organizations attempt to bridge the gap between those who can reach ICT services and those who lack it; this has proven to be very expensive due to the dynamic nature of technology making purchasing the latest devices to be very costly. New advancements render some of the initially acquired equipment obsolete and thus further escalates the costs. The rift between the poor and the wealthy extend further when they feed news and information from different quarters. As the rich advance in understanding and literacy, the poor keep diminishing thus widening the disparity.
Ideologies will differ and having a common understanding will be a huge mountain to climb thus predisposing to conflicts and misunderstanding. Enormous difference in digital services among people create economic divide as well as social divide, this limits interaction between the two groups. Also, the digital divide can be attributed to a rise in crime level because the people lacking such services will engage in unscrupulous activities to acquire the latest technology.
It is not just related to the gap between people with and without access internet; computer specifications are also integral. Calculated moves some successful other counter-active are initiated every day to bridge this gap and success depends on the receptive nature of recipients and goodwill from the advanced sect. Coming from a technical background, her literary skills blended with the passion for new technology always brings angles that no other writer dares taking on. Together with the readers, she sparks conversations longer than the content that triggers them. Home About Us Contact Us. Effects of the digital divide The digital divide has contributed to differences in development levels among states. Pros of the digital divide The digital divide is often viewed as a selfish act enhanced by the capitalist to deny a given section of the society access to power that comes with information.
Yes, according to the IRS. There may be instances where a worker serves as an independent contractor and an employee for the same entity. Workers can be both, either concurrently or at separate times, in the same calendar year. The IRS presents the following example:. The county views him as an employee and issues him a Form W-2 for these services. He also has a business that he owns and operates that provides snow plowing services on nights and weekends.
Any snow plowing services he performs for the county are separate and distinct from his services as a custodian. Therefore, the county should treat him as an independent contractor for his snow plowing business. Note that filing a and a W-2 for the same worker could result in a tax audit. The IRS will perform such audits on employers if they suspect someone has misclassified an employee. Your tax obligations vary between contractors and W-2 employees. You pay workers per the terms of their contract. At the end of the year, they receive a form to report their income on their taxes. These workers pay their own taxes and provide their own benefits. Because of this—and due to the nature of their expertise— contractors can be expensive to hire.
You must provide a copy of this form to the contractor by January 31 of the year following their payment. You must also send a copy of this form to the IRS. W-2 employees receive a regular wage and employee benefits. Additionally, you must deposit federal income taxes, unemployment taxes for unemployment insurance, and Social Security tax and Medicare taxes for yourself and your employee.
You must report on the taxes you deposit, as well as employee wages, tips, and other compensation. Finally, you must deposit and report your employment taxes on time. The IRS has helpful information on depositing and reporting employment taxes for W-2 employees. You may pay contractors a set amount, either hourly or by the project. Many contractors will outline their payment terms and rates in their contracts.
So they may need to charge more per hour to cover those costs. Employment taxes like Social Security taxes and Medicare taxes amount to Employers pay half of this 7. They also need to file quarterly estimated tax payments and pay quarterly estimated federal and state taxes. With this in mind, contractors need to make a minimum of 7. Bureau of Labor Statistics. These benefits include paid leave, health insurance, retirement savings , and other legally required benefits. The type of worker you hire depends on your business needs. But if you need temporary help during a busy holiday season, a seasonal W-2 employee is likely the more appropriate choice. If you need help with your bookkeeping a few hours each week, you could hire a part-time accounting professional.
Or you could outsource your bookkeeping to an independent contractor who specializes in accounting. In this case, either worker may be appropriate. If you could use some help with odd jobs, a W-2 employee might be the way to go. If you need someone to hit the ground running, a specialized contractor might be the better choice. No matter which type of worker you think is a better fit for your business, you should take a look at IRS guidance. This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality.
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This article currently has 12 ratings with an average of 4. HR Laws and Regulation. Healthcare and Benefits. Guide to employee benefits for small business. Resource Center. It's important to know the difference for a few reasons. Myranda Mondry. By Myranda Mondry August 10, Difference between and W-2 How to determine if a worker receives a W-2 or What is a worker? What is a W-2 worker? The tax differences between W-2s and s How to calculate hourly rate differences Is a or W-2 worker a better fit for your business? Why should you understand the difference? Misclassifying an employee as an independent contractor can result in financial penalties from the IRS or an employee misclassification lawsuit against your business.
Employee classifications affect how both you and your workers are taxed. Independent contractors define when, how, and where they work. Employees work according to your schedule and policies. How to determine if a worker receives a Form W-2 or There is no magic formula to determine whether a worker is an independent contractor or an employee. Behavioral : Does the company control or have the right to control what the worker does and how the worker does their job? Financial : Does the company or payer control the business aspects, like how it pays the worker?
Who provides the tools and supplies needed to get the job done? Type of relationship : Do you have employee policies or offer employee-type benefits like pension, insurance, and vacation pay? Is the work performed a key aspect of the business? Will the relationship continue once the work is done? What is a worker? Pros and cons of workers Whether you hire a contractor boils down to your business objectives and goals.
They are well trained in their fields and bring additional experience to the table. Their contracts can be short-term.They can even choose to hire their own workers to help them deliver the The Pros And Cons Of Withholding The Information. You will receive any additional refund you are owed. This loyalty can translate to a better work ethic, higher morale, and a thriving The Pros And Cons Of Withholding The Information culture. You do not need to withhold or file payroll taxes on their behalf or offer them the same Compare And Contrast Achilles Vs Beowulf The Pros And Cons Of Withholding The Information offer W-2 employees. Information that you input is The Pros And Cons Of Withholding The Information stored or reviewed for any purpose other than Are Americans Too Reliant On Technology Essay provide search results. Your e-mail has been sent.