Tax Season with CPA, Paul.
Paul Huchok is a certified public accountant for Schulte & Company. Even though Paul brings over 40 years of experience, he did disclose that “each individual has a different situation, so I would highly recommend that they seek their own advisor.”
Leaning into our niche audience, Paul disseminates the difference between an employee and an independent contractor by explaining, “[with] an employee, the employer has control. They tell them what hours to work, what to do…where an independent contractor is a gig type arrangement where the company pays them a fee [for the gig]..they don’t have to take it.” As sole proprietors, these gig workers control their own business. A significant focus when filing taxes tends to be write-offs and what you can relate to your business. While this is the most accessible avenue to lower your payment, it can also cause issues. As Paul alerts, “some independent contractors get a little aggressive with that, and the number one item that the IRS audits is schedule C…the form that contractors file.”
If you’d like to hear more from Paul and how you can avoid any tax filing issues, please watch DeliveringMore episode 8 below.