Many Illinois business owners may rely on oral or implied arrangements when making deals with others. These business owners may think written business contracts are unnecessary or show a lack of trust. However, these contracts play an essential role in protecting the interests of a business. Written contracts clarify any confusion between both parties. They also act as binding proof of the agreement in the event that one party violates it. Business owners should always draw up written … [Read more...]
How to protect your business with written agreements
Posted on June 6, 2014 //
Filed Under: Business Transactions // Tagged: Business, Contract, Employment contract, FIFA, Independent contractor, Law, Small business, Statute of Frauds
Independent contractor contracts
Posted on May 25, 2014 //
Independent contractors work in many professions and their earnings vary widely. It can be difficult to pinpoint the thing that groups them together into a single category, apart from the fact that they bear full responsibility for paying income taxes. Since an increasing number of companies are taking on new workers as independent contractors, particularly in the information technology industry, it is important for people joining the workforce or considering a career change to understand the … [Read more...]
Filed Under: Business Transactions // Tagged: Business, Employment contract, Income tax, Independent contractor, Medicare, Self-employment, Social Security, Workforce