Indepedent Contractor

Definition: An independent contractor is hired to perform work for a business (or other entity), but is not employeed by that business. The work is typically contracted for a specified amount of time or until a project is completed. The IRS considers someone to be an independent contractor if only the outcome of the work is controlled, as opposed to when, where or how the work is completed. An independent contractor is also responsible for paying his own taxes on the money earned.