If you’re a small business owner, a Fortune 500 company, or somewhere in between, chances are you’ve had to deal with freelance employees (aka 1099 employees aka contract employees). These are people who, rather than working for your company, work for themselves. Instead of coming in from 9-5 every day, they work on a single project or for a few hours a day. And they are also affected greatly by federal business income tax law.

And, of course, when someone you are using is affected, your business is affected too. Here’s the lowdown on how federal business income tax affects your freelancers and your company:
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