contract for service


contract for service
A contract undertaken by a self-employed individual. The distinction between a contract for service (self-employed) and a service contract (employee) is fundamental in establishing the tax position. With a contract for service the person may hire and pay others to carry out the work, will be responsible for correcting unsatisfactory work at their own expense, and may make losses as well as profits.

Accounting dictionary. 2014.

Look at other dictionaries:

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