What is the tax liability for someone that leases a business? As an employee or as an independent contractor?
May 11, 2009
jsep20 asked:
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?
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?
2 Responses to “What is the tax liability for someone that leases a business? As an employee or as an independent contractor?”
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May 11th, 2009 at 7:15 pm
Your question is so convoluted it makes no sense.
May 12th, 2009 at 3:09 pm
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.