A good tax guy can help with taxes and give ideas on deductions. His fee is a
Posted By: business expense. nm on 2005-10-17
In Reply to: IC versus employee... - RadGuy
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- IC versus employee... - RadGuy
- A good tax guy can help with taxes and give ideas on deductions. His fee is a - business expense. nm
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What you pay a good tax guy to give you suggestions and help with taxes is
:)
I pay taxes now and take ALL deductions
x
Are there any deductions for taxes on your paycheck?
nm
I do give a discount - some ideas
I do give a discount and my accounts pay usually the next day and in one account the doctor actually writes the check to me. I would call back and talk again with her explaining that you are a small business and need to have a check by a certain time in order to pay your mortgage, etc. Ask if you submit them the invoice by the 25th to 27th if you can count on a check by the 1st or if you submit on the 1st you can have a check by the 5th. So if you need your check by the 1st, I would give them the invoice by the 25th to 27th depending on what day of the week it is and put a note on it stating "per our conversation payment is due to me no later than the 30th." or whatever date you agree upon. I have found that offices do not like bi-monthly billings and like to pay only once a month. I have 4 accounts for invoicing and payment by the 1st and 2 for the 15th and payment by the 18th so I have cash flow throughout the month. But try talking to them as people and see if it works.
Get a good tax guy. His fee is a write-off. He will tell you what you need to do & deductions you
;I
A good tax guy is worth his weight. He will help you find deductions and if any probs with IRS,
;+
Then they need to go about it the correct and LEGAL way. I pay taxes to give them free sm
benefits when they are illegal and don't even pay taxes, but yet I am told I will have no social security even though I have paid it in for over 20 years. They want to come over here to live, they should start by learning our language and then getting themselves LEGAL and paying taxes like all of the LEGAL people here do. I am struggling and I can get no benefits, but they don't even have to be legal to get them. Big sign at the DHS office that says, we can help you even if you are not legal.
All of these ideas are good.
We lost a newborn. I know it is 100 times worse for an older child, but I appreciated all the things people did for me. Our neighbor came over that morning without being asked, while I was still in the hospital, and mowed our lawn before people started coming by. Other friends brought some meals. I most appreciated visits from friends. I was still on maternity leave with no baby to take care of.
good ideas
I've looked into other things I could do as a sidestep from transcription, like editor, or biller, there are tons of ads for billers and coders. I'd need more schooling. As far as support from family, thats great that yours admire you. Mine is just really judgemental and have always thought I never lived up to my potential. I've always been content though. Being an MT allows me my independence which is the most important thing to me.
Thanks all - some good ideas here. (sm)
Lately, my acct has added on a lot of progress notes, and if I don't get some more stuff in my expander, I'll never make any money! Thanks a lot.
Good ideas. Thanks. nm
xx
Good ideas here
I have a special "C&P" resume. I use Courier font because it will appear the same in email as it does in Word. I keep everything flush left. Where I might ordinarily use a bullet, I use a dash:
Transcribed reports for the following specialties:
- Cardiology
- Gastroenterology
- Oncology
Good ideas if you want to keep them.
I agree, sometimes you have to go along to get along, I made a lot of money with tapes as well. If you lneed the money, THINK hard, you may be sorry if you really depend on that income."Talk over her head" and make her think she's getting a "real deal" if you use the very expenesive labels and eat the cost for now until you can't stand it anymore. Think of your own monetary position and your needs. They love to think they're getting a "bargain" just blow smoke until you don't have to anymore.
good ideas
There are fantastic ideas here http://www.productivitytalk.com/forums/index.php
Good luck!
Good ideas !
Thanks for the info. I like the sound of the insurance company ones. Do they send you work via internet? Do you use a footpedal just like medical transcription? Just wondering.
Thanks everyone...good ideas and I appreciate the input..nm
nm
Good ideas - but most want to be at home! sm
I work more being at home, albeit not in 8 straight hours, but I get more work done at home with more lph working in 2-hour shifts throughout the day. Working in the office would not cut it for me. I have been working at home for 16 years now, no way will I go back to an office. So, if you are looking for the seasoned MTs to work in the office with the newbies - good luck with that!
I think you have great ideas and it will work, you just might have to modify a few things along the way.
Best of luck to you!
Good ideas, maybe I will look into getting an external - sm
backup hard drive as well that would certainly take care of losing any data, and seeing it every day would remind me to backup my important files! I bet there will be a run of people today backing up their work! I do keep written notes on my work, though not the line counts. I only lost about 15 files, about 2000 lines (it's a small account), just hope they have it all handy, they tend to lose/misplace files. Hate to have to retype them so I can bill them (of course I happened to delete all the sound files off the server I use yesterday for last weeks work, so I would have to have them resend all the sound files as well), but I will do what I have to do in order to do so!
what's up for dinner tonight? Any good ideas?
cc
Does anyone out there have any good pet friendly vacation ideas?? sm
Would love to go away for a small vacation with the kids but they dont want to leave their furry friends behind...and neither do I. I am looking for someplace that will take two dogs and is also kid friendly. I live in Ohio so I dont want something to far away. Dog friendly and kid friendly....too much to ask for???? 
Any good ideas for rose bushes? sm
I'm thinking of planting rose bushes along our new fence and just can't decide from all the varieties. I do want some that bloom all summer long and are winter hardy. Illinois can be brutal sometimes.
Very good ideas! Thanks for taking the time to share.
Any good ideas to celebrate 50th Birthday
A friend and co-worker turns 50 next Tuesday and we are planning a 1950s celebration here at work.We are gonna dress in poodle skirts and jeans and t-shirts, etc., but I'm looking for something else... maybe a unique poem..or any unique ideas? Anybody have any tips? TIA!
ANY GOOD IDEAS FOR VALENTINES DAY GIFT FOR HUBBY - BESIDES ME!
I love flowers and he surprised me tonight (since he is working tomorrow) with a beautiful plantar full of different plants and flowers I can keep inside and transplant outside this spring. Would like to surprise him as well but stumped as to what to get? What do you get a man who has everything?
I am looking for some good basic orthopedic sites -- Any ideas?
nm
Does anyone have any good craft ideas for 5th graders to do during Christmas party? sm
I am usually in charge of my younger kids' classroom parties, but this year I am doing the 5th graders. I need a good craft for them to do during their party. Something easy and fun....but you know...not too baby-ish. Any help is appreciated!!! 
Does anyone have any good ideas for back and hip pain from sitting all day? Anything on the market?
Thanks!!!!!!!!!!!
accounts. Pay own taxes & insurance, charge to cover it all & to pay yourself a good salary.
nm
He/she needs to PAY them well, give good
the quality and production will improve, & turnover will go down. Doctors keep raising prices to US, so why are we so squeamish about raising our prices to THEM?
Raise MTs pay & benefits. Sometimes you have to SPEND money to MAKE money.
I consider myself a good MT, can I give you my side?
I have 15 years experience and a pretty impressive resume. I was called and sent a test file of 30 minutes - told to pick 2-3 files to test. The sound quality was great, the dictator was a dream. I was told I would be needed full-time, absolutely no part-time permitted, I would have the same dictator if at all possible, would get work late evening/early morning and was due back the next afternoon, was given a low but decent line rate, was expected to do a lot of work and give 5 days notice if I needed time off and work to start w/i several days. Well, the work did not start for 2 weeks (new clinic getting up and running), the dictators were unorganized, the template was horrible - a nightmare for a typist/awkward to say the least, the line count was w/o spaces, the sound quality was poor, the work came late morning or afternoon and due that night, rarely got the same dictator, template and headers/footers changed several times, patient list, if provided, was in difficult format, work emailed and sometimes only half received, voice files were distorted, AND if I got work - only got 45 minutes to 60 minutes daily maybe 3 days a week and then a ton on Friday afternoon due early Monday morning..... This is not the job I applied for!!! Thankfully I did not give notice at my other company and have had a back-up job all along - the new company is very nice but just not cutting it in my book - it was all about what they wanted/needed and to heck with what they said was going to happen - reality was quite different and quite disappointing. I do not consider 60 minutes full-time and I work mornings best - not a swing-shift. I'm not hungry enough to jump through more hoops for them at this point.
good for a while, until your wrists give out.
nm
How long do you give a new job before you decide it's not a good fit for you? sm
(Also posted on Company Board)
My saga follows. Please go to the bottom of post for my question :)
I've been with my current company as a PT emp. for 2 1/2 months. Everything about them seems to be quite fair, not great, but very fair. I'm still on hourly pay of a whopping $8.50 till I get my production up. Therein lies the problem, I cannot EVER see getting my line count up with the inordinately excessive number of ESLs on my acct. It's just ridiculous. All I'm asking is to actually TRANSCRIBE for a living, instead of rewinding and relistening 1000 freakin' times a day.
I've never gotten the feeling that I'm being taken advantage of or given the crap work, I just believe I'm on a very high percentage ESL account. I don't mind doing ESLs, I really don't. I just want more understandable drs thrown into the mix.
This is my first job after graduating and I was lucky enough to be hired for acute care. I'd like to continue in acute care. I just want to be able to PRODUCE, improve and ENJOY my job. I want to be doing MT work for many years to come.
I'd just like some opinions from those of you with more experience about what you might do in my situation.
Also, how long do you give a job before you decide it's not a good fit for you? Am I giving up too quickly?
That's good to hear. Maybe I should give it a chance and see if I like it.
I wanted to thank all those who give me good advice last week. SM
And for listening to me boo hoo about being laid off or dissolved as the suits at the hospital like to call it. Anyway, I have officially accepted a QA Editor position with a service and I'm actually in a more positive frame of mind than I was last week.
I got my laptop all set up and ready to go with a laptop stand for plenty of ventilation, I put off buying any kind of wav player and just downloaded ExpressScribe for the time being, and I didn't saturate the market with my resume, but picked only a few places to apply based on suggestions and information you all gave me here. And I did all of this because you ladies gave me such good advice.
I just wanted to say what a great place this is and it is very, VERY wonderful to have a place to network, socialize, fellowship, or just plain gab with colleagues and friends. 
Give your keyboard a good upside down shake
Seriously...mine gets filled with all sorts of unspeakable oogies like cat hair, crumbs, and lord knows what else (thankfully I haven't spied anything that moves--yet!) and sometimes the keys (namely the shift/control/alt keys) stick. These are the ones that will mess up control+function capabilities. If that doesn't work, reboot. If that doesn't work, call tech support just in case someone fiddled with preferences or something like that.
Another handy thing to have is one of those "cans of air" that you can blow out your keyboard with on occasion.
Good luck!
Any good ideas where to look. Job Bank and Resume bank not working.
I think they must be waiting for a tech for repairs.
What I think is so sad is that people may give up good jobs to go there to find out these things all
to late. The newbies can learn and use MQ and move on which they do but of course the clients suffer then with all the people learning on them but this is what MQ causes and when they lose clients with poor quality or people that just throw out work then they caused their own problems. You cant keep good MTs with no work I dont care what incentives you offer because they mean nothing with no work ABSOLUTELY NOTHING. I wish people would understand that when MQ hires them.
You have your W2 showing very clearly those taxes were paid. MQ is responsible for those taxes
because you were a statutory employee. That is the responsibility of the employer to pay those just as though you were an employee.
I spend a good deal of time tweaking the ones in there so ummm, may give it a shot lol
dd
deductions
The IRS has guidelines published for people who file quarterly. I've been doing this at home for 9 years now. Over the years the govt has sent me vouchers which I've ignored. This year, however I decided to pay quarterly to stay out of trouble. I know there are exceptions for filing quarterly if you have children but since I don't I didn't pay much attention when reading the info. However, I have heard of ICs who had their husbands take more out of their checks but the IRS penalized them anyways. Hope this info helps.
deductions
Well 2600 out of 15 K is about 15% to 20% and it depends on the sq foot that you have in your office. I use 20% and deduct 20%. You cannot deduct ALL of it as it is only the percentage of the house that you use. If you are a business, an IC and it is required that you need that occupational license it is deductible. I deduct my business license which is a percentage of my business -- would trade the $200. If we want to operate as a business and want the deductions that you have to be licensed as such and pay the necesssary fees. Can't have it both ways.
I had about 12K in deductions.
.
deductions
I deduct and depreciate my house as I know I will live in it well after I retire and so won't have to worry about the depreciation move or when I die and my estate can well pay for it if it. But I deduct advertising, phone, health insurance, mileage, computer, supplies, depreciation of house, partial utilities, my internet, cell phone, etc. and it equals out to at least 15K a year. My mileage helps but if I were working outside in a hospital I would have that expense and no deduction so I don't mind. I also put aside 20% in my IRA which is a deduction. Most of these deductions I would have if I were not an MTSO-IC as I would still use internet, gas, house, utilities, etc. and would have more of a taxable income but someone is just holding my taxes for me and sending them in. But you have to think ahead to prepare. I go on vacation to places where there are seminars that I want to attend, etc. Again if you weren't an IC you would still have those expenses and they would not be deductible. It is just a shock because no one withheld for you during the year. You almost think and feel that your employer is actually paying those taxes for you and except for the 7.5 of SS they are just managing your money. So begin to manage yours now. If you have kids and give them allowances, you can say you are paying them for filing and be able to deduct up to 500 without doing a 1099. There are legitimate deductions out there but you gotta search for them. If you have your kids give out flyers, etc, pay them and deduct it. You give them money anyway. But I would not give up my house deduction/depreciation for anything as I know I will be here long after I retire. That is my long 2 cents worth. Patti
I need help with QA deductions..SM
It has been so long I don't remember the exact deductions and how it works. Could you please tell the very basic process for deductions and how it works. Specifically, how much is deducted for a word left out, the wrong medication dosage, no comma where there should be one, and when they type a word like has but it was supposed to be his.
I'd really appreciate it. Maybe someone knows a site that has this info. I couldn't find anything myself.
thanks.
deductions
Mileage for any travel pertaining to business, advertising, mailings, internet, phone, office, -- first couple of years I went to a CPA and then did on my own following his prior returns with Turbo Tax. They take you through it step by step. Anything you contribute to your SEP retirement, insurance, computer, desk. Get a good book or talk with a CPA. Have a separate check book for all payments to work related expenses. Even a couple thousand miles per year is a savings.
Deductions
Hello everyone. I know this has probably been discussed a million times and that there's probably information in the archives (which I plan to dig into), but I was wondering if anyone could, off the top of their head, guide me to a site or something that could specifically tell me what deductions I am able to take as an IC doing MT work for a national company? Thanking you in advance. Reb
Don't forget the tax deductions
Pleae keep all your receipts for hearing-aids/batteries, etc. and check with your tax preparer at year's end or before. I would think this would be deductible but worth asking about.
I only took the standard deductions
and it still happened to me. What I couldn't understand was that I was supposed to be in a less likely audit bracket because that year I was an employee, an IC and an SE. (they were trying to see if I met employee status on my SE account).
TAX question..deductions??sm
I am starting or trying to start my own business at home
but in order to do that I had to buy my own pc and use
it to take an online course at home in my spare time.
I work parttime for a national MT co. I want to deduct
the cost of the pc and the course from last year's income
which I earned as an SE (several W2s). Both the course
and the pc were bought in Dec. 05 using a small-business
credit card. I don't expect to finish the course for a few
months and only then will be able to "market" my new skill.
My question I guess is..when you purchase something by credit,
is it "totally deductible" in the year of purchase or do you
only deduct the payments in the year they occur? Thanks.
need some tips for tax deductions
I would really appreciate any tips I an get on tax deductions for at home employee.
Just keep deductions in mind.
I live in Alabama and out in the country. I count the miles I drive to the bank and to the post office, post office box dues, cell phone, extra phone line, internet, etc. As an employee I had to pay all these anyway, I just could not deduct them from my taxes.
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