In this week's episode, we are joined by Donald Perkins, owner of DFP Flooring in Covington, CT. Together, we explore and analyze the contrasts between 1099 subcontractors and employees, as well as the benefits of forming partnerships rather than just hiring staff. We also delve into the roles of distributors and reps in the flooring industry and how we can collectively strive to elevate the standards of the entire field.
In the episode, Don and I also discuss the risks of employee misclassification for small businesses. Misclassifying employees as independent contractors can lead to significant legal and financial consequences, including penalties, back taxes, and lawsuits. These risks can be especially damaging for small businesses, which may not have the resources to pay for these costs. By partnering with employees and properly classifying them, small businesses can avoid these risks and ensure a more stable and sustainable future. It's an important topic that every small business owner in the industry should be aware of.
But it's not all about avoiding pitfalls. Don and I also explore ways to raise the standards of the flooring industry as a whole. By collaborating and sharing knowledge, we can help each other improve and provide better service to clients. So tune in for this insightful conversation on the Floor Academy Podcast.
http://dfpllcfloor.com/
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