If you're self-employed and don't pay quarterly,
Posted By: you will have penalties......nm on 2008-06-09
In Reply to: You don't have to pay quarterly though, you can pay - mtmt
xx
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With that attitude, I'm surprised you're employed!
Paranoid much? Maybe you need some anger management,,,,
You're extremely lucky. I bet there aren't 10 of us out here employed by a hospital, working f
c
You don't have to pay quarterly though, you can pay
yearly, that's all I ever did as an IC anyway. I guess if you do it yearly you have to cough up more at one time.
Quarterly bonuses
Are the quarterly bonuses still being offered for SE's and what about the SE's who have been here for years??
SE's still get quarterly bonuses
I still get quarterly bonuses as an SE..I also have gotten extra for tier work. I dont know what that is all about, I havent asked (dont like dealing with the office much)..What I think, however, is as a part timer, if I do more than 6,000 lines/pay period, I guess I move to a higher tier. I got approximately $30.00 extra a few pay checks ago. It was listed on my pay stub.
Quarterly taxes
I think you just have to make up the difference come tax time. When I called H&R Block, they said the easiest way is to estimate your income and make 25% quarterly payments. So, that is what I will do. Your tax preparer can provide you with a quarterly schedule with dates and amounts, as well as remittance slips and addressed envelopes to make your payments.
HTH - K
I have never paid quarterly
Just pay on April 15th
Quarterly taxes are not always
an option. Sometimes they are a requirement. You should check with an accountant, but I had a personal experience during my early years of statutory employment status with MQ whereby I did not pay estimated quarterly taxes. Because of some legality, I ended up paying a penalty because according to the IRS I should have been able to predict that my estimated taxes were going to be more than the previous year and therefore I should have paid them ahead.
Again, check with your accountant on that, but I would strongly advise estimated quarterly tax payments.
Quarterly works best.
Take a look at what you paid last year per month, double it and total that and then divide that into 4 quarters and send it to the IRS so that you will have tax credits for your IC status at the end of the year. Call any accounting firm or look on the IRS website for the form. Estimated quartery payments. If not you will owe a boatload at the end of the year. Worst that happens is you get money back!
I understand that, we put in 40 percent quarterly and still had to pay
We dont end up paying for state or federal when we do it and I am an employee.. EVEN putting in 40% quarterly as an IC and taking out the deductions, we still owe.
I am saying - it doesnt work out well for *us*.
Are you paying quarterly taxes? nm
xx
Would recommend paying quarterly, if
you owe too much at the end of the year there can be penalities. When I was just an IC, I set back about 25% of each check to handle my taxes. Now I work FT as an employee and have an IC and just have extra taxes withheld, so do not pay quarterly.
nice quarterly bonus makes up a lot
with Alltype. What you get offered for pay is how well you did on the test and what shift you plan to work.
quarterly bonus from company pool?
Anyone here work for a company that offers a quarterly bonus that comes from a pool set aside by the company and the transcribers who qualify for the bonus, split it at the end of the quarter? Just wondering, if any, are you bonus checks worth the hassle? Are they decent checks? Thanks for all replies.
How do the Proscript quarterly bonuses work? nm
xxx
How many MT's are employed there?
Just out of curiosity, wonder how big they are. Don't want to get with one of the biggies! Is there a great turnover with MT's?
currently employed
i currently work for above-mentioned company and have no problems with my paychecks. all i will say is don't believe everything you read. it's easy to post things on a website to hurt the reputation of others. it's called slander! people get disgruntled for one reason or another, and instead of taking it up with the person they should deal with, they figure it's easier to try to attack and hurt others by attacking them publically. grow up. this isn't third grade.
I am employed by DR--
Some people are actually employees and some are hired by DR to work for hospitals. I'm happy with them. I wish my line rate were higher, but I have a relatively easy account with constant work. I'd rather have that than a high line rate with a terrible account and no work.
Employed by them several years...
I think they are great to work for. Office personal is great to work with, very helpful. Pay is there when they say it will be, never a problem there. I have worked several years for them and my pay has NEVER been 6 to 8 cents. I enjoy my work. Very, very few ESL's on my account.
Yes, still gainfully employed... sm
... and business as usual, just a different company name on the paychecks. Thank you for asking! Life is good! :-)
self-employed getting a raise
But with MT it's a little bit of a sticky wicket. We are self employed, BUT if we are working as an IC for a company we are really at their mercy, and I'm sure, as some above posters mentioned, the companies we work for are getting raises from their clients, so one would think that $$ would naturally be passed on down. Of course, we can ask for a raise, but they can say no, and then what? If we are happy with the company we are with do we just suck it up and hope for a raise tomorrow/next year? In my opinion, if we've got the experience under our belt, turn in consistently quality work, and our company is constantly praising us, seems to me they should do the offering of a raise. But unfortunately that just is not happening.
Employed since 2003
I like working with them. We have just recently merged with MD-IT so I don't know a whole lot about the new company but MTSource was great. Whether MD-IT will influence and make changes is something that I don't know. So far - so good. You can use Instant Text but only the latest version.
I do BUT I am employed by a hospital...SM
making an hourly wage plus incentive. However, I own my home and do not have a house payment (an insurance settlement allowed me to pay off my house) or a car payment (I do not drive a fancy car). I also live in the midwest where the cost of living is lower than on the coasts. I have two kids. My monthly expenses are utilities, groceries, and stuff the kids need. We do okay. I'm not one of those people that lives above their means. I have a 50+ year old home that we are fixing up when we have extra money. I drive a 2000 Chevy Cavalier that is paid off and has a couple of dents from some fender benders, but looks decent.
My husband is disabled and hasn't worked since he was discharged from active duty in 2005. We are in the process for filing a disability claim for him, but it's such a process. So he brings in no income whatsoever. He he is my house-husband. He does the housework, the laundry, runs the kids to school and picks them up, and even occasionally cooks dinner. He also is a great auto mechanic and keeps my car running for me.
I just wanted to give you my background because one of my biggest pet peeves is people who post on here how they make $60,000 a year as an MT and neglect to give the little details like they are chained to the computer 12 hours a day, 7 days a week.
I'll be honest, at 8 cpl, there is no way my family could live on that unless I slept at my computer and had a commode as my desk chair! I'm lucky that I have the job I have and we've managed to cut costs where we can.
My sister is an RN and has been for 20 years and she makes really good money. Between her and husband's salaries, they pull in at least $100,000 a year and they are in debt up to their eyeballs. They have trouble making their house payment every month. They have a truck and a car payment that are constantly late. Creditors are calling them nonstop for credit card bills they can't pay. All because they felt they needed to live in the fanciest house and drive the newest, fanciest cars, and spend, spend, spend.
I don't live in a big fancy house or drive a fancy car, but I'm pretty content and I don't have the financial stress to deal with most of the time. My kids want for nothing and I am occasionally able spoil them.
sound like you are employed with
tt-that's their style
not that I know of; employed there awhile.
x
You are employed by the wrong company
x
Not recently employed there but here is my input
I worked for them about 4 or 5 years ago. Thought the pay was low but it was my first MT job so to me it was good. Pay was always on time and accurate. They do not pay for errors. Did not like their schedule and I wanted a more flexible schedule. Like I said this is from 4 or 5 years ago. Things may have changed. Overall, a nice person to work for.
Would you be talking about CS? I am newly employed by them and they have
the same thing. The techs interrupt me nearly every day to get into my computer and change the templates too. This has happened every single day up to today. Today is the first day I have not gotten an instant message asking to me allowed into my computer to change the stupid templates. I don't know how much longer I am going to stay. I am having a terrible time getting any kind of decent line count.
Sounds like being self-employed, no time to die.
Time off for the self-employed is the same except they'll find another service and replace you if you miss one day. No hearts.
It's the FL Hospital account, not employed by
x
Yes, my husband is self-employed so we have individual plans but...
the preminums keep going up and up. I realize they also do when you work for a company, but since they get a group rate, the hit isnt as hard as when you are self-employed. Once you have a medical condition and your self-employed, the rates are horrible. I am going to check into some of our plans here locally just to see. My husband and kids are on their own individiual plans and they do have a copay but all we could afford was the cheapest plan which does not cover a lot and like I said every year we get hit with higher preminums just to end up with less coverage. It is very discouraging.
Anyone self-employed doesn't get a raise unless they give
p
I had awful credit for a long time and always got employed.nm
nm
No, not worried, just never heard of benefits for self employed people. That would make them
employees so I dont think you can give those benefits to SE or IC unless the law has been changed.
OP - I was assuming you meant to STAY employed and get unemployment for the weeks...
She does not make her lines. Not quit or be fired and unemployment. That is self-explanatory.
To OP - My post was for partial employment or underemployment; i.e., keeping your job but filing for benefits.
Sorry if I was confusing! LOL
I love challenge. Hubby is self-employed, too as a tri-axle owner/operator. No bennies at all unless
x
Hope you're enjoying those slave wages you're earning.
.
So you guys feel you're getting paid what you're worth with VR?
I'm not trying to be snarky. I've never done VR, so I'm trying to understand.
You're happy with your paycheck with VR? Do you find the files to be as bad as the original post implied?
So you're telling me, basically, they're bad news?
They offered me 0.095/line and you know - it sounded too good to be true, but I SWEAR the recruiter told me they do not outsource. Oh brother... I just wish they'd be honest. I really don't know what to do.
Not the OP, but they're supposed to take out all the other taxes as you're an employee with th
s
No, they're not losing money....they're gaining!
If a company charges their clients by the line, I'm sure that line rate does not go down even though the MTs pay does.
ASR pays about 2/3 normal line rate to its MTs. Their ultimate goal is to have the MTs do twice as much work. Therefore, the client is getting their work faster, but paying their normal rate, while corporate gets that money and the MTs get the lower line rate.
Whether the newbies want to realize it or not, MTSOs have not increased MTs' salaries in the past 10 years. They still start out at the same pay as the last century!
This used to be a very lucrative profession. Nowadays, most MTs are considered to be paid at the poverty level. You don't believe me, look it up!
Hey, you're in luck then. They're hiring! (nm)
x
If they're in Nebraska, they're www.medigrafix.com nm
m
If you're an IC, you pay all your taxes. Otherwise you're an SE or employee. nm
s
If you're PT you're required to work
8 of your hours in one weekend day. There's no extra pay for it though.
The face we're wising up is exactly why they're
xxx
We're not 'so scared' of it. We're trying to help
you to not make a huge mistake, but I guess you're determined to learn the hard way, so good luck with that.
If you're in the 37% tax bracket, you're making over
100K per year. Quit complaining.
You're right on it! They're just trying to cause panic.
...
How can you KNOW what you're doing without THINKING you know what you're doing?
/
If you're not doing your job, then you're not earning anything, therefore
p
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