Practice Of Real EstateBrokerage_operationsEASY
A licensee sets their own hours, pays their own expenses, and receives compensation based on production rather than a salary. For tax purposes, the IRS requires a written agreement confirming the licensee will not be treated as an employee. What classification does this describe?
Correct Answer
B) Independent contractor
A real estate licensee who controls the manner and means of their work, pays their own expenses, and is compensated based on production is treated as an independent contractor for tax purposes, provided a written agreement exists.
Answer Options
A
EmployeeB
Independent contractorC
Property managerD
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Related Topics & Key Terms
Key Terms:
brokerage_operationspracticeindependent_contractortax
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