Exam (elaborations)
STUDY GUIDE FOR THE NY REAL ESTATE EXAM WITH CERTIFIED SOLUTIONS
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Independent contractor must pay their own expenses. According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, also reviewed every 12-15 months · All records must be kept for 3 years · If sales associate not deemed independent then they will not be able to file "SCHEDULE C' of the federal return · The Independent Contractor Relationship Ø Salespersons are free to engage in outside employment Ø Either party may terminate the relationship at any time
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Institution
NY REAL ESTATE
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NY REAL ESTATE
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Written for
- Institution
- NY REAL ESTATE
- Course
- NY REAL ESTATE
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- Uploaded on
- January 2, 2024
- Number of pages
- 43
- Written in
- 2023/2024
- Type
- Exam (elaborations)
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- Questions & answers
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study guide for the ny real estate exam
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