Contractor or Vendor: How Do Businesses Classify for Correct Payment?
DECEMBER 14, 2017
Questions often arise for business owners when it comes to correctly classifying and paying independent contractors and vendors. This article will help you sort through some of the key details. What is the difference between an independent contractor and a vendor? The IRS defines independent contractors as individuals who “offer their services to the general public…[where] the payer has the right to control or direct only the result of the work and not what will be done and how it will be.