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Investments glossary

Independent Contractor

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Quotes of the day:

The GOLD in Golden years was identified by the sight impaired. It is actually Rust!!

— Jenny Flowers Strother

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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