Mitigate risk. Maximize peace of mind.

The rules and regulations around engaging with independent contractors frequently shift and evolve. In this high-stakes environment, WorkMarket can help.

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Verify worker IDs

We automatically verify U.S. worker tax IDs to help prevent fraud and payment issues. We also capture W-9s electronically to help ensure compliance with year-end tax reporting and prevent unnecessary tax withholding.

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Electronically file 1099-NEC forms

At year-end, WorkMarket prepares 1099-NEC forms and electronically files with the IRS and applicable state agencies on your behalf. Copies are provided to workers too. Learn about the IRS e-filing mandate here.

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Generate invoices automatically

Once work is approved, invoices are generated automatically on behalf of the worker based on preset payment terms. Easily pay invoices when they're due, helping you pay workers on time.

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Withhold deductions and garnishments*

We help you withhold non-statutory deductions like rent, fees, overpayments and insurance, as well as child support garnishments, from contractor earnings.

One central repository for all your worker documents

WorkMarket captures your important independent contractor documentation including NDAs, licenses, certifications, contractor agreements, even background checks and drug tests. You can easily track which workers have met their requirements and those that may need reminders to complete onboarding.

WorkMarket interface showing a contractor profile with completed requirements, agreements and certifications.
WorkMarket interfaces showing a list of invoices and a tax information submission confirmation screen

Simplifying steps to compliance

WorkMarket is a dedicated contractor management system that differs from traditional HCM platforms, giving you the ability to:

  • Furnish and electronically file 1099-NEC forms

  • Collect and verify bank information (as quickly as same-day), and US worker tax ID information

  • Pay contractors on-demand vs. a traditional payroll schedule

  • Treat independent contractors as business entities

  • Collect documents like contractor agreements and NDAs

  • Produce an invoice audit trail for every transaction

  • Withhold non-statutory deductions from contractor pay

Want to learn more about how you can keep your business compliant? Download our guide to understand some of the latest regulations affecting independent contractors!

Download now

Client Story

IREI reduces risk with seamless, compliant payments

Thanks to WorkMarket, IREI performs reliable, up-to-date internal audits to monitor risk around payments and hours.

“Any company that has a contractor workforce should strongly consider WorkMarket. The platform makes bringing on contractors easy, paying them seamless, and mitigates the compliance risks we were concerned about.”

Erika Cohen, COO, Institutional Real Estate, Inc.

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See WorkMarket in action

Explore our interactive demo to see how you can leverage automation to manage independent contractors — and virtually eliminate manual processes — from onboarding to pay.

How can WorkMarket work for you? Let's talk.

Speak to our team about how we can help you manage your independent contractors efficiently and compliantly.

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Please note WorkMarket currently only supports businesses with a US entity.

The all-in-one system to manage your independent contractors:

  • Efficient onboarding

  • Organize talent

  • Manage work assignments

  • Fast, flexible payments

  • Improve compliance

  • Dashboard reporting and analytics

  • Integrate with your existing systems

WorkMarket FAQs

The primary reason to keep your W-2 employees separate from your 1099 independent contractors is to mitigate risk, starting with how you classify workers. Liability exposure for misclassification of workers can be costly in terms of fees and penalties, taxes, even legal and anti-discrimination law violations. Here's more on the consequences of misclassifying your independent contractors.

Deductions are typically thought of as part of an employment relationship, but they may also be relevant when it comes to engaging with independent contractors. When paying your contractors, voluntary or non-statutory deductions are, by definition, not mandated. However, situations may arise – often as a matter of convenience – where a contractor requests that certain expenses the contractor is responsible for be paid by the company and then deducted from their earnings. Learn more about the compliance considerations on this topic.

An independent contractor, often referred to as a freelancer or gig worker, is someone who is contracted to do work on a per-project basis within a particular time frame. They are not employees but are often considered self-employed. During the onboarding process, they provide a W-9 form to the client and for tax purposes, the client furnishes and files a 1099-NEC at year-end. Find out more about being an independent contractor.

* The term “non-statutory deductions” is used solely for ease of reference and its use is not meant to indicate or imply an employer/employee relationship. WorkMarket does not handle garnishment withholding calculations, remittance to agencies, or agency reporting.