If you’re a business owner who’s made the decision to hire a bookkeeper to help manage your financial records, the first question to ask yourself is if you should hire an in-house employee to fill that position, or if you should partner with an independent contractor.
In the paragraphs that follow, I’ll give my two cents on both options.
Generally speaking, one advantage to an in-house position is that it will probably cost less per hour. Keep in mind, however, that you’re hiring an actual employee, which means that you, as an employer, have certain legal obligations to that person. Additionally, although you might pay less in terms of the person’s wage, you will also be responsible to pay social security, medicare, workman’s comp, and state/federal unemployment taxes for the hours they work.
Continue reading “In-House Bookkeeper vs. Independent Contractor”
