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26 October 2016. Keywords. Labor law. Status: Current legislation. The Freelance Isn't Free Act (FIFA) is a local New York City law passed by the New York City Council in 2016 that protects the labor rights of freelance workers. The bill passed unanimously, after lobbying by the Freelancers Union. [1] The law was officially enacted on May 15, 2017.
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
Unlike an employee, the independent contractor must pay self-employment tax on income minus deductions. The self-employment tax rate is 12.4% for Social Security and 2.9% for Medicare taxes as a ...
The Labor Department's new Independent Contractor Rule went into effect Monday, threatening gig workers' independent status and the freedom and flexibility such workers have come to expect.. The ...
Here are the top 11 things you need to know before (or even after) you sign an Independent Contractor Agreement: Many employers try to save money on taxes and escape liability under employment ...
Owner-operator. An owner-operator is a small business or microbusiness owner who also runs the day-to-day operations of the company. Owner-operators are found in many business models and franchising companies in many different industries like restaurant chains, health care, logistics, maintenance, repair, and operations .