Indicate whether you think the following situations
describe an employee relationship or an independent
contractor? What factors do you base your decision
on?
Sara work as a clerk in Ann’s Dress Shop. Ann withholds
federal taxes from her pay, and controls the methods and details of
the performance of her work.
1. Sara is an:
Why?
Ann hires Krupp Carpet Company to clean the carpets of
her shop. Ann gives Krupp instructions as to what needs to be
cleaned and when.
2. Krupp...
What is a fiduciary relationship?
What are the differences between an employee and an independent
contractor?
What is an agency relationship?
List and define the ways an agency can be formed.
What are the agent’s duties to the principal?
What are the principal’s duties to the agent?
List and define the types of authority.
What are the three categories of principals and how do those
categories effect liability?
When is an principal liable for the torts of the agent?
What...
How is an agency relationship created? Under Louisiana law,
discuss how an agency relationship (mandate) is created citing the
pertinent Louisiana articles of the Civil Code. Discuss in
detail.
Instead of being classified as an employee, Matthew McGinnis was
misclassified as an independent contractor. How will his employer's
FICA taxes be affected? What penalty will the employer face for
this misclassificiation? What should a company look at in
determining how to classify a worker as an employee versus an
independent contractor?
Payroll Accounting
What is the difference between an independent contractor and an
employee? How does this status affect their taxes and reporting
requirements on both employee and employer sides?
Short Answer
In examining an agency relationship, list factors that determine
whether an employer/employee or independent contractor relationship
exists.
I think I finally figured this one out. It's in a chapter of
foundations of the legal environment and I believe it is talking
about partnerships, the legal complications between business and
independent contractors. This book is sometimes hard to
understand. Thank you for taking a look.
Describe, in a short paragraph, the relationship between
independent events and mutually exclusive events. Are independent
events also mutually exclusive? Your answer should include (but
should not be limited to) an answer to the following questions:
Give an example of two events A and B that are mutually exclusive,
and explain why they are dependent events. Give an example of two
events that are dependent, but are not mutually exclusive. Explain!
Both examples and explanations are desired.
A) What is an agency relationship and what are agency costs as
outlined in agency theory? What is argued in agency theory and
other commendations that may be implemented to reduce agency costs?
Explain your answer for these three issues using examples for each
issue.
How can we differentiate between whether an individual would be
considered an independent contractor or a W-2 employee?
What repercussions, if any, does an employer face if they
incorrectly identify an employee as an independent contractor?