You call paying your own taxes, medical expense,
Posted By: Two Funny on 2009-05-10
In Reply to: good thing it is a temporary thing sm - MT way too long
no paid vacation or sick pay a decent job?
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Says medical and business expense benefits (whatever that means).
Company equipment provided. F/T and PT, then apply on line.
Are you paying quarterly taxes? nm
xx
Don't forget, you will be paying all your own taxes, etc.
in addition to everything else, so really is a lot less than 6 cents per line. These people obviously keep underbidding others, so let them do their own work for those slave wages and see how long that lasts. MTs are worth a lot more than that. That amount of money for an IC is absolutely disgraceful.
Your opinion we stop paying taxes, buying
x
Call the medical records dept there. Sm
I did a bit of this account, too, but my primary was a sister hospital. Loved it.
They must deduct FEDERAL taxes.. NOT STATE taxes.. if they took out state taxes.. it would be FLORID
which would only have to be refunded to you for you to pay YOUR state what you owe them which is nothing but a pain... be glad they weren't handling your state tax.. and I think in this case.. if someone at the IRS told you they have to deduct YOUR states taxes.. it is that person who is uneducated... they only have to deduce federal income tax
Call the hospital medical records dept and ask who does their transcription. They will tell you.
x
I don't get it, at the expense of another person?
who?
labor is not the only expense
an MT company has so your figures, while interesting, don't show the whole picture.
Seems like a whole lotta trouble and expense
'prove a point', when their chances of proving anything at all that could win them their case are slim to none.
Win or lose, can you imagine what the other employees of this nasty bunch must be thinking?
I can almost hear all those splashes from all those who will jump ship.
A company would not go through the expense and time of hiring you only to not
contact you. This smells fishy. It is not the first time you have said this but it does not sound right.
one of MANY reasons, in addition to living expense,
NM
It depends. If they invested in the the time and expense to hire you, sm
to train you, ship you equipment, set up your software etc. and you did not give it a fair chance (at the very least 2 weeks) before quitting, I'd say they'd be extremely gracious to even consider taking you back.
If you worked for them for awhile and gave the platform and the company a fair trial, and then ended up leaving, then yes perhaps they might hire you back.
All you can do is ask. JMHO.
If there is a way Spheris can make a dollar at the trans expense, they will find it.
nm
When I am renting, I am PAYING; when I'm working, THEY are paying ME. sm
Seems I should be running a credit check on the potential employer to see if THEY are responsible with their money, not the other way around.
Yes, call waiting works. I also have call forwarding from my home line
NM
You can call it greed, I call it feeling like
I am back in the 80s with the money I am pulling in. SS, retirement check and my paycheck, cha-ching. Not planning on taking it with me, never. Love to travel and have 4 places planned for this year. High maintenance lady here. Ta-Ta.
Taxes
When you work for someone you STILL PAY YOUR TAXES, your employer does NOT except for the 7.5 SS. Look at your pay check, are not taxed withheld??? As an IC you are RESPONSIBLE for withholding your own taxes and sending them in but either as an employee or a IC -- you still PAY them, except for the 7.5 of social security. Sorry but it bugs me when people say as an IC you pay your own taxes as it is incorrect -- you are RESPONSIBLE for paying your own taxes. With your write off's, flexibility and most of the time more pay it does cover the extra SS you have to pay. Been doing it for almost 20 years.
SE and taxes
I'm seriously considering accepting a job as an SE. The employer holds and pays social security but not income tax or other federal tax. My state has no income tax, but I was wondering if I would have to pay Medicare tax as well as withholding tax. Also, is there a way to pay via IRS monthly or bimonthly rather than quarterly. This is new to me and I'm a little spooked. If I would have to pay Medicare, does anyone know what percent that is. I understand I should hold or pay 25% roughly for withholding. Help please. 
Taxes
Absolutely and you do not have to be only an IC for this write off. Even if you are an employee expenses that you incur in order to perform your job which are not reimbursed by your employer are all eligible. I write off my ink cartridges, printer paper, internet service, etc.
Taxes
I really believe a sharp CPA is worth every penny.
Taxes
It is my understanding that if the state your company is located in does not have a sales tax - then they do not handle the state taxes period. Examples would be companies located in Florida and I think Tennessee.
Taxes
The cost is the same to the employee either way, it is just the convenience of not having to deal with it. Whether they deduct it out of your check and pay it or whether they give you the full amount and you deduct it - either way you owe it and have to pay it. Of course it is less convenient to file quarterly taxes. According to my CPA the employer does not have to withhold if their state does not have state income tax. The employee is responsible for paying quarterly in order to avoid any late fines. Maybe each state has their own standards but I can't imagine all these companies in states without state taxes would be getting away with not withholding if that were the case. By the way, having more held out of hubbies return sounds like a good idea to me if you are filing jointly anyway.
Taxes
I wonder then, since this seems to be different state to state, if some of these companies would legally be able to just not employee MTs from states who require the employer, regardless of location, to handle the state taxes. I could see them thinking the paperwork/accounting costs would not be worth it.
SS taxes
just taken out of pay, you have to use bayscribe, but certain programs they can import into bayscribe and yes, they will if asked provide sample reports.
taxes
Yes, they do.
IC Taxes
For some IC is better, I guess it depends on your circumstances. My husband is on disability so our income is very low, we clam the mortgage interest our home and we never have to pay in. I do have to pay 1% local tax each year but that is never more than $100.00 or so. As IC you are able to write off Internet expenses, paper, ink, ref. books ect. For me it is just better. Plus as IC I feel that I have more control, but that is jost my opinion.
Taxes sm
If you are an IC then you have to pay your own taxes. There is no difference. You would just convert the $$ into US (your bank does this) and keep track of the actual US dollars you made and then claim it on your tax return. Hope this helps.
As an SE..do they pay any taxes..sm
or are you responsible for paying all your taxes yourself?
taxes
Are there are any Radiology jobs that pay part of taxes?
Taxes
The post above is not true. As an employee the employer pays one half of your federal and state (if you have them) taxes. It is not just half of the FICA they pay. It is half of the total federal (Fed, FICA, Medicare.) I was an MTSO for 8 years and looked into making my ICs employees and just couldn't swing it plus try to offer benefits.
taxes
Bravo!!! Obviously, the OP either has grown children or no children. It takes an incredible juggling act to raise kids these days. Most parents in our income range need all the help they can get. Just having custody of a 2-year-old for 6 weeks has taught me that. Daycare alone is taking all I have. You're right - never underestimate the people with authority in nursing homes. My son reminds me of that sometimes - I only hope he is joking! Have a good Monday!!
taxes
I realize that. What I am concerned about is Social Security and how that works and how do I decide how much taxes to hold out of my check to be sure I am covered at tax time? Just looking for some preferences here from people who have done it both ways. Thanks!
After taxes, it's a lot less than $100.....
Skroo that!
IC and taxes
I have just accepted an IC position. I have never worked as an IC before. Do you set aside your tax money and pay it quarterly or at the end of the year. (for next year) Any advice on this would be much appreciated. Thanks!
IC and Taxes
Thanks for the information. I was thinking it would be best to pay quarterly. I have my city taxes set up like that already. Do you know how to set up state and federal taxes to be quarterly?
IC taxes
You don't pay any more taxes as an IC than you do as a regular employee. You pay your taxes differently and pay more up front than you do as an employee, but on the back end when you do your taxes it all evens out.
You have to pay your regular federal withholding. It's the same rate that you would pay based on 0 deductions with a regular job. You can use the tax table http://www.irs.gov/pub/irs-pdf/p15.pdf to figure that out. Then you have to pay the whole FICA tax of 15.3%. Half of that is the employer's portion, which you don't have to pay as an employee. The other half and the federal withholding you already pay as an employee.
When you do your taxes at the end of the year, you enter half of your self employment FICA tax on line 27 (along with a schedule SE) and you deduct it from your gross income.
So you have to pay more up front, but you don't pay more in the long run.
I pay 25% to the feds every time I get paid and I pay 5% to the state every time I get paid. A lot of people like to do it quarterly, but I like to get it over with so I don't think I have the money to spend.
You can make your federal tax payments on line here: https://www.eftps.gov/eftps/ . You have to sign up with them and then they mail you paperwork with online passwords and stuff, so it takes about a week to get actual access, but it's worth it. It's where I pay all of my taxes. Your state probably has an online presence where you can pay your state taxes as well.
I've only ever been an IC so I can't compare working as an IC to working as an employee on production.
rather just under 100,000 a year, after taxes
please. transcribing for a national??
Employees pay taxes too
You are only paying 7.5% more due to SS, and you should be able to find 7.5% worth of deductions to take. If you were an employee you still pay the taxes they just withold it from your check.
withholding taxes? sm
I am fairly new to the IC status. Approximately what percentage should I be putting away for taxes (federal, state and local). I know it varies, but just a baseline amount please if anybody can help me out? I would like to start this with the new year. Where do you put the money, your regular savings account or open a separate account? TIA.
K
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
Benefits/taxes
You end up paying for these one way or another, if you are an employee you get less per line and do not have the choice of what health insurance, or when to take time off or how to pay your taxes it is all done for you. As an IC you get more per line and you chose which health insurance company to have, when you take time off and how to invest your money so you don't pay as much taxes. Sorry like I have always said even as an employee you pay for the benefits it is just that someone is handling that for you for a price -- lower wages.
If you are an IC NO taxes are taken out. If you are married have
your spouse have extra taken from their check. How much to save you if you need to pay quarterly depends on your income bracket, but around 30%.
The above post made no sense. Having to pay for bennies and working for benefits at another company. Of course you have to work to get bennies, but if a company you work for pays your benefits that results in a higher rate of pay and if you have to work the more you get for working the better.
Speaking of taxes...
when paying self-employment tax, does that include unemployment taxes? I was thinking of filing since it looks like finding another job may take a long time.
Need info on taxes, etc... sm
I had my first IC job in 2005 (did not make very much money though). We do our own taxes, and I would like to know how to find out (in simple terms) what tax forms, etc. I need to include when filing taxes this year. Any help appreciated. Thanks!
ICs are responsible for taxes... sm
and insurance and all withholdings (1099 status). A statutory employee has FICA withheld and usually Social Security (W2 status). Both have to turn in schedules to their companies, but ICs have a little more flexibility. Also, ICs supply their own equipment. Statutories have the option of company supplied (with a rental fee taken from their check, which is waived a lot of times for high production) or use their own equipment. No bennies for either. An IC just usually needs to meet client turnaround times and can stop and start a lot more than a statutory or full employee status person does.
IC pay for all the taxes, employees do not.
Half is paid by the company.
Yes, you are an employee so they take out all necessary taxes. nm
x
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.
yes you do..it is called taxes...sm
and you give them money every time you buy prescription drugs, gasoline, oil, and other commodities that the big business interests have holdings in. Stop letting big business run the country..it is still WE the PEOPLE, all people..not just the rich, but I don't want to get political..wrong board and I don't want to be banned for speaking my opinion. So, I am saying no more on the subject. suggest you do the same.
My taxes pay for your child
Here again our taxes are paying for you having children -- tired of it. People that get money back or even more than they pain all due to having kids -- we pay for their children. No wonder we have such a deficit and such a work ethic, -- they want everyone to take care of them -- so tired of that.
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