For tax purposes, you will need to understand how you are classified for employment purposes. This means understanding independent contractor vs employee. Each Monday morning you head out the door and go to the office. You typically work a 40-hour work week unless the boss requires you to spend additional time at the office. On a designated day every week, you get a paycheck. Some companies pay weekly, others pay every two weeks, some twice monthly and still others, monthly. However, your paycheck is no mystery unless you work overtime and you get a few extra dollars for those extra…
