About 7000, but our income is low 6 figures, so ratio isn't too bad.

• how far are you in debt? - please respond
  • I feel like kicking my own ass. - A year and a half ago we sm
  • Zero. If I don't have the dollars, I don't buy it. - anon
  • About 7000, but our income is low 6 figures, so ratio isn't too bad. - nm
  • debt - pathgirl
    • Yes, I know of plan sm - Debt free soon
      • Dave Ramsey - I highly recommend
  • Well, my life insurance policy is worth more than I am, - sigh....
  • About 50K in debt not counting mortgage. nm - Not so intelligent one regarding debt.

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Wondering what the input/output ratio of most is.  Are you typing in the spot you are hearing or somehow listening further ahead (and still typing from what you heard prior)?

Do you have to stop/start the dictation much?

Any descriptions appreciated. 

I went looking for the stats - and these stats I'm going to paste are from the 2000 census - and believe me, things have changed drastically since then....back then I read/heard there were 800,000 cubans in Miami but I think it was Miami-Dade and the stats i just found are Miami only....and 65% of the population are hispanic/latino but that's not just cubans...the 2000 census says total population in miami is 404,000.  I'm disputing that today but new stats (accurate) are a tad difficult to find...but I'm still researching...*laughs*

2000 census info for Miami, Florida:

Population - 362,470

FL (Florida)" src=http://www.muninetguide.com/muninet/images/blend.jpg" width=226>

Latino

 65.8%

White

 11.8%

Black

 22.3%

 

The median age for residents in Miami, FL is 37.7 (this is older than average age in the U.S.).

Families (non-single residences) represent 62.1% of the population.

Median Household Income

U.S. $50,344

Miami-Dade County $43,955

Miami $28,699

2000 U.S. Census data, adjusted for inflation

info gleaned from below link:

http://www.muninetguide.com/states/florida/municipality/Miami.php

when they speak of Miami with the bigger #s I just read at another site - they mean Miami-Dade, Broward, and Palm Beach County, total population of all 3 counties is 5.4 million, and all 3 counties comprise South Florida (as I would think/presume Naples and other more SW cities do on the Florida West Coast)....

all very interesting....I'm glued this afternoon to checking this out 

Self Employment tax is only about 15.3%, which is only a small percentage more than you'd pay with employee status.  FICA and Medicare are already taken into that figure.  As a self-employed person, you get to deduct a bunch of stuff, too, so your taxable income isn't as high as it would be if you were an employee.  Nobody earning $1,000 is taxed at 40%.  You have to earn more than $278,450 as a single person to be in the higher federal tax bracket of 39.6%.  I've been self-employed for over 8 years now.  I've never paid anywhere near 40% in taxes.

BTW, I have a minor in accounting with many years of bookkeeping and tax preparation experience.  If you still don't believe me, check out the Small Business section at the IRS.GOV website.  There is a ton of accurate information there.

Self Employment tax is only about 15.3%, which is only a small percentage more than you'd pay with employee status.  FICA and Medicare are already taken into that figure.  As a self-employed person, you get to deduct a bunch of stuff, too, so your taxable income isn't as high as it would be if you were an employee.  Nobody earning $1,000 is taxed at 40%.  You have to earn more than $278,450 as a single person to be in the higher federal tax bracket of 39.6%.  I've been self-employed for over 8 years now.  I've never paid anywhere near 40% in taxes.

BTW, I have a minor in accounting with many years of bookkeeping and tax preparation experience.  If you still don't believe me, check out the Small Business section at the IRS.GOV website.  There is a ton of accurate information there.

I am at #6, but have been an MT for 30+ years. 

I live in New York, have been doing MT for 15 years and during all of that time I have needed to work 50 to 70 hours a week.  I started on working mostly from tapes. When the dictations started coming through the computer and I started using word expanders, income went way up.  But so has my rent - used to be $750, now $1100.  And my son eats a lot more at 14 than he used to! A few years ago I started working for 2 services for extra money... but now I couldn't get by without 2 jobs. The first job used to pay well, but with a combination of a new platform and VR,  plus being transferred to a different account at a lesser line rate, I make thousands less from them than I used to.  I am changing companies.  Would love a 40 hour work week but don't think it's possible.

maybe with 10 children..  I know of one circumstance (in my state, and some others) where a person can make a decent amount of money (sky's not the limit, but 50,000 range is OK) and still get Medicaid. It's a program for working people with disabilities, whose medical expenses are extremely high and would not be covered by regular insurance - including services of home health aide and transportation to medical appointments, equipment, etc etc). I am on this program (which I was not told about by Medicaid workers, had to do my own research). So I am in the curious position of receiving government assistance (Medicaid only, not food stamps or disability payments) and working/paying taxes at the same time.

Likely the OP is not in this category.

I have a friend whose mother passed away in March of this year.  She was an IC and thus earned income right up until the time of her death.  Is her daughter now responsible for filing an income tax return and/or paying taxes on this income?  I know an accountant for her would be handy in this situation, but I thought I might get some opinions here as well.  Thanks!!

I have three 1099's here in front of me  -- one for 24K, one for 13K,  and one for 5K.    My W2 one is for 14 almost 15K.  I did work without 1099 in the amount of 3K.   The reason that my average goes down on the IRS forms is that after all my business deductions -- which includes my health insurance and 401K and Self employed retirement fund, mileage, supplies, etc. it goes down to less than 20K.   Believe me or not, but it is possible and I still have time to go on the boards.  I do not work 60 to 70 hours per week. 

Boy you guys do not know how to read financial statements or know the first thing about running your own business.   That is my taxable income.  I start out about 55K and end up paying taxes on only 20K if that.  I support myself in a very unique lifestyle living on a floating home.  I contribute 15K to a my own retirement fund.  I have NO debt.  And I probably spend no more on gas than if I were working at a hospital but I get to deduct the mileage which is a good deduction.   The only outlay that I have that I would not have if I were working for someone else is supplies -- sticky paper and toner.  I have looked at employee versus IC or business owner and I am so much more ahead financially doing it this way.  A lot more usable income.  And I only work 30 hours per week even with deliveries and pick-ups.   So before you speak, learn how to realize what is net, gross and  taxable income.   

You are so right.  Maybe we need to stick together and ask for hourly wage that is fair to us and to the hospital/clinic/private office, benefits that mean something, and all work our shifts.  If some of us don't keep up then we will get fired!  However, the rest of us will all benefit immensely and be fairly treated.  It seems in the world of transcriptiion that we, the transcriptionists, always get ripped off.  Consider that my husband has a "regular job" and has had yearly cost of living increases, bonuses, etc. forever.  By my estimation, my pay translated into hourly has gone down considerably.  Twenty years ago the hourly offered for our services has never changed one iota and now that we are home not only did it go down (unless we skip lunch and work over) but we have lost all our benefits unless we work for cheap line counts for big nationals.  I am tired of them taking all of my money, are you?  It is just like the health insurance racket.  They have all kinds of "middle men" who get their piece of the action from the people who really do the work.  My husband's share we pay for our benefits has gone up, his company's share has gone up and the offerings have gone down.  Why?  There is no real need for middle men.  All they do is drive the cost of things and the real workers get it in the neck or other body parts I won't mention because I am a lady. Face it, doctor's don't even know we exist any more.  There is no personal factor.  I don't need constant affirmation, but it was nice when the doctors I transcribed for vaguely or not so vaguely knew who I was and respected me and my integrity and realized I made some contribution to their practice by my careful attention to detail.  They also remembered that I too worked there when everyone else got a raise.  I guess I am done now, but this gripes me so much and we all continue to sit here and type and nothing changes.  Somehow others have insinuated themselves into our transcription business and are pocketing all the profits and calling all the shots.  Some days I feel like a rat in a wheel. 

I use an accountant for my taxes and it is well worth the money.  One time I had an issue come up with the IRS and the accountant handled the problem for me.  Also, the taxes are more complicated than if you are an employee somewhere.  Good luck.