Sovereign Solutions’ proven compliance process for independent contractors determines whether they are properly classified as a 1099 or an incorporated entity. For those that are not properly classified, Sovereign Solutions can become their employer of record (EOR) to insulate you from any potential issues. For those that are properly classified, Sovereign Solutions can engage them as their agent of record (AOR).
Either way, Sovereign Solutions can ensure that professionals are in full compliance with applicable IRS and DOL rules and regulations, as well as your internal guidelines. Also, there are substantial cost savings that can be realized!
Sovereign Solutions reduces many of the legal, procurement, and accounting costs associated with engaging Independent Contractors (IC) by:
- Providing consolidated invoicing for all of your independent contractors.
- Auditing time and expense reports to ensure compliance with rules and guidelines.
- Negotiating more favorable contract terms and conditions with ICs.
- Responding to supplier questions and providing timely payment.
- Providing on-line access to PO utilization, time sheet detail, and management information.
- Serving as single contact for all vendor-related issues.