Im confused he puts an ad in the paper for mortgage processors and loan officers,but when you come to the office he hires you, then helps set up your own business,(he gets the business license, tax id or ein and even set you up as llc,corp or sole prior...) you get no benefits (because your are now self employed) but when it time to pay you, he writes out a business check from his company to yours ,what exactly is he doing? and most of the people that works for him has no clue about there own business?
My employer is a business development company/mortgage however...?
He is using all of your risk to get a gain for himself
My employer is a business development company/mortgage however...?
He is merely setting up a business of his own by hiring independent contractors. It is not illegal but it may not be set up correctly. There is a fine line that is sometimes difficult to understand. The biggest issue is whether he is controlling the activities of the these people. In fact, it is possible that the IRS would consider all of these hired individuals as employees and it may hold him responsible for Social Security Taxes. This page details the issue: http://www.irs.gov/businesses/small/arti...
Each State may have additional laws and restrictions.
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