Definition
An independent contractor is a self-employed individual who provides services to a company under a contract but is not an employee of the company.
Related Services
Contract management, payroll services, and tax advisory services help companies manage independent contractors, ensuring compliance with labor laws and tax regulations.
Problem and Application
Hiring independent contractors can be cost-effective but requires clear contracts and compliance with tax and labor laws to avoid legal issues.
Conclusion
Independent contractors provide flexible solutions for businesses, but proper management and legal compliance are crucial for a successful working relationship.
