Sign up to save your podcasts
Or
Share Episode 28: Paying The Crew - Contractor Or Employee
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Episode 28: Paying The Crew - Contractor Or Employee
Is your crew truly a contractor, or should they be on payroll? In this episode of Full Throttle Finance™, we break down one of the most misunderstood parts of running a race program: W-2 vs 1099 classification.
Whether you’re paying part-time help at the track or building a full paddock crew, how you set up payroll matters. We’ll walk you through how the IRS defines employees vs contractors, common mistakes we see in motorsports and small businesses, and why getting this right protects both your budget and your team.
🔧 Topics we cover:
How the IRS classifies workers (and why intent matters)
The real risks of misclassifying your crew
Why W-2s offer long-term advantages—even part-time
How to properly work with 1099s (contracts, per diem, expectations)
Examples from F1, MotoGP, and small privateer teams
👥 If you're not sure how to structure your team, or you're thinking about switching someone to payroll, we can help. Book a consult here:
👉 https://www.cleanbeeconsulting.com/fullthrottlefinance
📣 Don’t forget to like, comment, and subscribe to support financial literacy in motorsports. New episodes every Friday!
#W2vs1099 #RaceTeamPayroll #FullThrottleFinance #MotorsportsBusiness #BookkeepingForRaceTeams #SmallBusinessFinance #IRSClassification #PayrollTips #CleanBeeConsulting
View all episodes
By Full Throttle Finance™️Is your crew truly a contractor, or should they be on payroll? In this episode of Full Throttle Finance™, we break down one of the most misunderstood parts of running a race program: W-2 vs 1099 classification.
Whether you’re paying part-time help at the track or building a full paddock crew, how you set up payroll matters. We’ll walk you through how the IRS defines employees vs contractors, common mistakes we see in motorsports and small businesses, and why getting this right protects both your budget and your team.
🔧 Topics we cover:
How the IRS classifies workers (and why intent matters)
The real risks of misclassifying your crew
Why W-2s offer long-term advantages—even part-time
How to properly work with 1099s (contracts, per diem, expectations)
Examples from F1, MotoGP, and small privateer teams
👥 If you're not sure how to structure your team, or you're thinking about switching someone to payroll, we can help. Book a consult here:
👉 https://www.cleanbeeconsulting.com/fullthrottlefinance
📣 Don’t forget to like, comment, and subscribe to support financial literacy in motorsports. New episodes every Friday!
#W2vs1099 #RaceTeamPayroll #FullThrottleFinance #MotorsportsBusiness #BookkeepingForRaceTeams #SmallBusinessFinance #IRSClassification #PayrollTips #CleanBeeConsulting