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In this episode of "All Up In Your Business," attorney Aiden Kramer discusses independent contractor agreements. He defines an independent contractor as someone providing services to a business without being an employee, such as himself as a contractor or a hired bookkeeper. Kramer emphasizes the importance of having a written agreement to clarify the relationship with the contractor. Key elements that should be included in the agreement are the specific services the contractor will perform and the payment details for those services. This ensures clear communication and understanding between both parties.