As your small business grows, you may enter new markets, including expanding your company internationally. If you do expand into international markets, you may look to hire independent contractors in a foreign country. When hiring an independent contractor in another country, it is important to understand some of the key considerations before you move forward with the relationship. Today’s post highlights a few key considerations when hiring an independent contractor abroad.

Know the Rules

Before you enter into any new market, you should become familiar with the regulations that will impact your business. When it comes to hiring an independent contractor, you should become familiar with the various employment and tax regulations that will be triggered by your new hire. Different countries…

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If you’ve done any searching online, you’ve probably read that limited liability company (LLC) entity offers flexibility when organizing the management and economic structure of the company. And because of this flexibility, the LLC quickly became the most popular entity to form in order to shield personal assets from business liabilities. One of the areas where LLCs offer flexibility is how to structure payments to owners of the business. Today’s post discusses the fact that owners of an LLC can only be considered “employees” if the LLC elects to be taxed as a corporation.

Can LLC Members be Paid as Employees?

Members (owners) of an LLC cannot be considered “employees” of the business unless the LLC elects to be taxed as a…

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As a small business owner, it is important that you are aware of all mandatory regulations that affect your business. One such regulation for employers in Washington is providing workers’ compensation coverage for all non-exempt employees. Today’s post discusses some general information related to workers’ compensation insurance, and highlights certain individuals who are not required to be covered by workers’ compensation insurance.

What is workers’ compensation insurance?
Workers’ compensation provides no-fault insurance coverage for most employers and workers in Washington state. Workers that are unable to work because of a work-related injury or occupational disease may be eligible for partial wage replacement benefits and medical treatment for injuries that occur as a result of their employment. Employers are required to…

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Kyle Hulten recently wrote on the iVLG blog about the value of contingent contracts when negotiating agreements. It’s a great read and below I’ve highlighted some of the key takeaway points from Kyle’s article.

What is a contingent contract?

You probably guessed it. A contingent contract is a contract that includes contingencies, i.e. future events that may occur and change the terms of the agreement. Some of the most well-known contingent contracts are in professional sports. Athletes often receive additional money if they achieve certain goals. Another common example is in the employer-employee context. You may hire an employee and incentivize that employee to work hard by providing a non-discretionary bonus if the employee performs beyond a certain target, e.g. if employee…

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