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Investments glossary

Independent Contractor


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Quotes of the day:

All that glitters is not gold, and things that look warm are often cold!

— Yassine Aumerally

An independent contractor is a person or entity contracted to perform work for—or provide services to—another entity as a nonemployee. As a result, independent contractors must pay their own Social Security and Medicare taxes. The payer must correctly classify each payee as either an independent contractor or employee. Another term for an independent contractor is a freelancer.


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