An independent contractor relationship between a real estate brokerage firm and a license requires that the:
A. brokerage and licensee must enter into a written agreement
B. brokerage must consider the licensee an employee for tax purposes
C. brokerage must set the licensee's daily work schedule
D. licensee must be paid primarily based on number of hours worked rather than commission
Answer: A. brokerage and licensee must enter into a written agreement
The Internal Revenue Service will consider a real estate licensee an independent contractor only if the brokerage firm and the licensee have a written contract saying that the licensee will not be treated as an employee for federal tax purposes. In addition, substantially all of the licensee's compensation must be based commission rather than hours worked.
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