Are you sure taking all available deductions?
Posted By: nm on 2008-02-17
In Reply to: Just did my taxes for the first time since being married. Im in tears!!! SM - No Name
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What about deductions?
I also recently started working as an IC, for the first time. Besides setting aside part of my wages, is it true that at tax time I can lessen the tax bill quite a bit by taking a home office deduction, such as utilities, etc.? Do I pay separately into Social Security? Inquiring minds want to know.......Thanks!
Deductions are still allowed
Even if you are on employee status, you can still take deductions for your at-home office. I didn't think so either until my accountant told me that absolutely, you still can. It isn't as much as if you are totally self employed, but there are still quite a few allowed. The best of both worlds is statutory employee. That means you do not pay both sides of the SS Tax but you still send in quarterlies. This way, you can take all deductions for your home office, etc. Hope this clarifies it a bit better.
You forgot to do some deductions - sm
like medical benefits, taxes, no pay for vacation or sick time, no rasies, etc. I got out of this field about a year ago but still visit this board. It amazes me how the same baloney is complained about for at least the 10 years I was an MT. Not everyone can type 200 lph no matter how long they've been typing. You have no idea how BAD it is for your health to sit for long periods of time. Glad you're happy with the position and I'm happy I'm out of it. Now I get bennies, vacation pay, don't have to work holidays and/or weekends and make about $16/hr.
Those things MTs pay for are tax deductions. And
dr. to you? DO you think it just magically appears in your PC? And who do you thing handles the disgruntled facilities, dictation-to-MT break-downs, and all the other irritating details that come with this business. It is not just work in, work out, cash the check.
Saw JLG hiring SE and IC. SE can take home office deductions, right? (sm)
Any other pros/cons about this or the company in general?
I'm an employee and can take home office deductions. You
have to have a $$ amount equal to a certain percentage of your income to be able to claim expenses if you are not an IC. I don't claim home office because it only made about a $50 difference in my report and I'd rather not claim it than worry about an audit since my office isn't 100% office use, my internet service isn't 100% work related, etc. HR Block does my taxes too.
Please excuse typo--I meant deductions
its getting late and I stacked wood all day. LOL!
But as work at home IC, deductions can often lower
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I thought statutory could claim those same deductions? NM
Oh no. Also check to see if your tax deductions (fed, state, social security) were
nm
I am including all insurance deductions including nm
n
BUT...you are taking them at their SM
word that the production rate will increase. The reality? It doesn't. I have been doing VR where I work for about a year now and even after the system was trained properly it takes JUST AS MUCH IF NOT MORE time to edit versus straight-typing the document.
You must always remember that when the company presents a plan and its assurances that you will make more money in the end, YOU WON'T. They may (cheaper labor) but YOU will not. That's guaranteed.
Not currently taking on new MTs (sm)
according to a form email I received. They seem to have a great reputation among MTs.
Well, someone must be taking it or
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Taking less pay
In 1981, I was making 10 cents a line; now it is 9, soon to be 8. We, as professional MTs, have let this profession go underground and isolated, many of us working at home and not in a social setting. Its time to RECLAIM our profession, re-emphasize the LEGAL IMPORTANCE of the work we do, and raise the standards again to catch up our salaries and inflation. I'd hate to have to move to India to make what I made 25 years ago!
about VR taking over all by itself but
rather the air heads out there that think it saves time and money, so they take on VR accounts and we as MTs get stuck with the editing. The original poster is correct. If doctors and/or hospitals want to change to VR, let them use it entirely on their own--no editing and no retyping from MTs, nothing! They would be throwing those machines out the windows in just a matter of a few hours. That is what our profession/industry needs. No help for VR accounts, plain and simple.
Have you tried taking Tylenol PM
It helps take away the pain you have in your shoulders and back from typing all day and it helps you sleep. May be a little better than Benadryl.
I know how you are feeling regarding MQ; I am there too and deciding on jumping ship.
That is another long story which I will have to go into at another time.
Have a good day or try at least and try the Tylenol PM
They shouldn't be taking someone right off the
This profession isn't greeting or flipping burgers at Wal-Mart or McDonald's. Why hire someone off the street with no skills in the first place?
THANKS FOR TAKING THE TIME IT IS
THANKS!
Taking pole. Which would you take? (sm)
I won't name the companies but have been offered a job from two, both paying the same amount per line. One is as a employee with a company that so far I've seen mostly bad things about on MT Stars. The plus side is they take out the taxes/social security. The second is with a company that I've seen both good and bad things about on MT Stars but it's as an IC so I have to deal with taxes and social security. The only reason I lean towards the first one is because I don't have to provide both parts of social security, but as I said, I've not seen anything good about them. This is a second job to make up for the loss of overtime/bonus time no longer available. What would you do?
taking a pole
I'm with you
taking a pole where?
I think people from Poland are just fine and it shouldn't be painful to take one somewhere, should it?
You are taking my post a little too seriously
You are also obviously missing the point. My post was purely hypothetical. Again...you totally missed the point.
Taking a stand
I work for MDI-MD which does not offshore. There ARE companies out there with integrity. I think it behooves all of you who are looking for new jobs to be very clear that you will work only for companies that do NOT offshore. You should also give the AAMT a piece of your mind since they have been supporting (and profiteering from) offshoring for years. Think about that the next time you write your excuse to this pathetic organization.
So, you don't mind that they are taking
I hope that one day you don't wake up to find out they have outsourced your position and you are now without a job. Let me know how that works for you.
I'm taking the test now. I'm not too sure about this?!?! sm
I saw somewhere where somebody said they got paid every Friday. Somebody else said about once a month. I don't know. Their website looks promising. I'm in the process of getting the test ready to send now. I'm not sure if I'll even finish it.
thanks JD for taking time out of
your busy day to post that.
Nowhere does it say anything about taking our night
differential (not that I can find, anyway). They took one bonus and replaced it one other and another on the way. Rarely do I run out of work. They could have cut our pay even more to get us on a more even keel with the other nationals that only pay 50%. At least that didn't happen yet. It's not a bad place to work. I have always been paid on time, have a good PS and WFC, accrue PTO even though I'm only part time (30 hours per week). 
I know the OSI accounts U R taking about
The OSi MT's are in the dark about so many things. Evil people who run this company.
Test taking
I have just taken a test that must be designed to get into medical school with all of the choose the correct, fill in the blank and give the definition, was sooo..long.... and so intense, and why do we have to take 5 voice tests, don't they understand if you can do one or two, you must know what you are doing? Just tired I guess trying to find a good fit after doing this for 20 years.
Test taking
It was for DR and it was just long and timed too.
taking the spaces away ????
What is the purpose of taking the spaces away? Any line counter can count spaces as well as characters - and a stroke to the spacebar is the same effort on the part of the MT as a stroke to a letter key - I don't understand the rationale??
Not taking sides
Actually I am in the same boat as everyone else. You have to work harder to make more money because this industry does not give raises. Our economy is hurting; however, I would NOT want live in India or any other country that is being sent work because their economy is obviously worse.
Also OFFSHORING is when transcription is sent to other countries. Outsourcing is what hospitals to when they send their transcription to companies rather than being done in house.
Lots of industries are offshoring. I just sit here in my peaceful living room and decide how much money I want to earn today and determine how hard I want to work. Some days I don't want to do it at all. Other days I am grateful I don't have to go wait tables or tend bar for a second job. As much as people complain about this industry, I can't think of anything else I would want to do to make extra money.
not taking sides but...
I completely understand what you mean about the pay...it is quite a long time to wait for a full paycheck.
But...you really should have read your contract BEFORE signing it so you only have yourself to blame for that aspect.
I am taking a f/t job with them and am pretty
excited about it. They have been really great so far in the hiring process, and I have never seen anything negative, though not much in the archives. Hope this helps! Maybe we will be working together. Good luck!
well i'm taking some comfort in
that i'm not alone. I've taken a big hit in income due to my own slowness (at least in part). but i'm also working a little less to preserve my nerves from carpal tunnel, which after 33 yr is starting to creep in. I always felt that i could find work easy with my experience, but not so sure of that anymore either. So for me, no, not recession proof.
TAKING IT PERSONALLY??...SM
HOW RUDE! It's wonderful that you are able to tell what others are thinking or what they want to do.
Who are YOU to tell an MT to go somewhere else? The poster has a right to her/his opinion just as much as you do, although she seems to be able to express herself with somewhat more class that you are capable of.
Thank you all for taking the time to
post. I truly appreciate it as I might have taken the chance and gotten myself into a mess. Have a great day.
That's OK! We understand! Thanks for taking
I agree with you 100% and am glad I'm not the only one foaming at the mouth at these supposed MTs who beg for less money, who don't want to be paid more or progress in our industry. Its sick, isn't it? I know many reading this think these posters are mgmt or MTSOs, but sadly I believe they are MTs who just have had their minds so twisted by conniving CEOs that they believe the mantra. Animal Farm, anyone? Cause I sure am sick of being Boxer, the horse!
Unfortunately, probably the only way you will know is by taking the job and seeing how it fits. sm
If you have a job already, if possible, do not quit until you work at the other job long enough to know that you are in a better situation. I have read glowing reports about a company and then signed on to work and thought it stunk to high heaven, and vice versa ... have seen companies trashed that I thought were wonderful. Each person's experience is unique.
Of course, if you read several people saying they were paid late or not at all, THAT kind of thing, I would certainly avoid that like the plague. Although I do enjoy what I do, I cannot afford to work for free.
I work for Keystrokes and SmartMed and would be happy to recommend either one if the TTS thing does not work out for you. Of course, the same thing goes for them -- some love them, some hate them.
Good luck! 
Am independent, taking off day and
was told they wanted me to make it up.
Taking post down-sm
So far, only 1 vote to take the post down. Would 9 more vote to take it down, please!
So YOU are the one taking all the work!!
Just kidding
Cindy - and thank you for taking up this cause. We need it! - nm
nm
Taking a poll about VR
Do you use the mouse or the keyboard to maneuver through your VR documents? Which one do you think is faster?
I think they are taking tips from the Q then.
Either that or my QA person is moonlighting and working at #2 on the side.
Unbelievable.
taking a stand
God bless you for your courage. I am joining you. I have already told my liaison I am leaving and will prepare a formal resignation letter this afternoon. My understanding is that Transcend merges in as of 1 September. I will work until evening on 31 August but, as I told my liaison, I will not offer even one keystroke to a company that offshores. We are in a deep depression (an economic one, as well as personal ones due to what has happened!), Americans are out of work, MTs are scratching for work, and they would DARE offshore. I was told that it was only when the clients wants it. I don't care if it is because Elvis Presley wants it or my pet chow-chow wants it. It is simply WRONG. TAKING A STAND, you have said it far more eloquently than I could have. All I can say is that I agree with everything that you said. I am so out of here.
RE: MDI taking over board
The moderator is right. Yes, there is a lot of space spent on the MDI issue and there needs to be. Many, many people feel angry and betrayed. Many people have not had work for weeks. Some of us are in danger of foreclosure because we cannot pay our mortages. Others have other reasons. Please, please, be patient. No one--and I do mean no one--knows when they, too, will be sold out. I hope this does not ever happen to other MTs but I know that is not realistic. I do know that, should it happen to MTs from another company, I will be willing to be patient with them for as long as it takes. Until you have been through an experience like this, you have no idea what it feels like. Thank you for being patient and considerate with us.
Wow! Certainly is taking care of us
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I think the OP is taking it too literally sm
because of course nobody can consistently produce 10 reports every hour they work. I took the question more generally, like they probably expect about 80 reports in 8 hours, or 400 reports a week.
I only meant that we do not run out. I am taking someone's spot while sm
they are on vacation. I know that someone will take care of mine when I leave in 3 weeks for vacation. It is called teamwork. We are not overstaffed on our accounts; it is a good workflow.
I also know that they are not hiring right now as we are fully staffed, and I know this was posted here a few weeks ago. There are a few new accounts coming and I am sure that they will hire then but not overstaff.
I was on that end before and NO THANK YOU. I hated scheduling and coverage issues and waiting for clients to pay. I just transcribe and get paid well to do a good job.
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