What INDEPENDENT CONTRACTOR means: A taxpayer who contracts to do work according to his own methods and who is not subject to control except as to the results of such work. An employee, by contrast, is subject to the control of the employer as to the methods to be used to obtain the desired results.
- Definition Information Returns:
- Dictionary such as Form W-2 and the various 1099 forms, which report to the IRS income and property transactions. The payer, broker, or other designated person is required to file these returns and is subject independent contractor definition.
- Definition Investment Interest:
- Dictionary Investment interest is interest paid on money borrowed to purchase or hold investment property. Investment interest is deductible as an itemized deduction to the extent of net investment income independent contractor explain.
- Definition Intangible Personal Property:
- Dictionary Property, other than real property, with no intrinsic value; its value lies in the rights conveyed. Examples include cash, insurance, stock, goodwill, and patents independent contractor what is.
- Definition Individual Retirement Arrangement (IRA):
- Dictionary retirement arrangement is a trust set up to receive retirement contributions of individuals. The arrangement may be in the form of an individual retirement account or individual retirement annuity independent contractor meaning.
How works Independent Contractor meaning in Tax definitions I .
