Types of Contracts Learn the difference between implied and express contracts.
A primer on the rules and regulations that govern employers. Until you are thoroughly comfortable with the tax issues, have your CPA prepare your return. Restaurants, for example, have to watch employee tip reporting, receipts for cash payments for meals and take-out meals, and juke box revenues. Businesses relying heavily on independent contractors can expect efforts by state and federal tax agencies to reclassify these workers as employees. This could result in personal liability for the owners for back taxes, interest and penalties.