What is the tax liability for someone that leases a business? As an employee or as an independent contractor?
A web user asks, I know it sounds strange, but say someone leases a business and come tax time, their income tax return is filed as an employee. Would it be possible to amend the tax return? Would a business owner via lease be considered an independent contractor? If so, what requirements are necessary to be an independent contractor?
Can you help them out? Post your advice!
Related Items:
- How would a business owner, all their life, write a resume to become an employee?
- How much GST and Tax do you take out of your self contractor wages in Australia?
- What do small business owners have to do?
- How Big Should A Business Be Before The Owner Finally Delegates Responsibilities?
- What steps should a business take to claim legal ownership of work completed by contractors on it’s behalf?
Posted in Tax
Your question is so convoluted it makes no sense.
Normally if you leased a business, you’d file a schedule C and SE.
But if you got a W-2 from the business owner instead, however your arrangement was set up, you’d be filing as an employee.
If you’ll give more info as to the actual situation, someone might be able to give you a more complete answer.