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Independent Contractor

What is an Independent Contractor?

A nonemployee who works for, or provides services to a Company is known as Independent Contractor.  An Independent contractor does not earn hourly, bi-weekly, semi-monthly, or monthly salary, however, is paid once the specific task/project is completed for which they are hired. Independent Contractors are also liable to pay their own Social Security, Medicare, and several other taxes.

Related: Employee Type, Employee, Exemption