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The Gig Economy: Employee or Independent Contractor?

The gig economy is a domain where companies hire workers for specific projects or “gigs.” Generally these workers retain control over the manner and the means of performing their work and are classified as independent contractors. Currently, the gig economy is booming, as Time Magazine’s recent survey estimated that it includes over 14 million people. Gig economy companies benefit because they need significantly less capital and avoid payments of employee taxes and benefits (e.g. paid sick days, health insurance, and retirement benefits). Gig economy workers benefit in a gig economy due to flexible work schedules, control over the work, and a lack of oversight. Continue Reading