Any statutory employees out there?
Posted By: A New Beginning on 2007-10-12
In Reply to:
I'll be starting a new job soon with a service as a statutory employee. I want to get on top of my tax situation now so that come April I won't get hit with a big bill from the tax man.
Any suggestions/guidelines for how much of each of my checks I should be setting aside for taxes? I know that my employer will be paying 1/2 of my Social Security taxes. What about the rest?
Thanks in advance for your help.
Complete Discussion Below:  marks the location of current message within thread
The messages you are viewing
are archived/old.
To view latest messages and participate in discussions, select
the boards given in left menu
Other related messages found in our database
Statutory employees too?
Is the new pay plan for statutory/IC employees too? Cant you only switch to full time employee status twice a year, I think May and October or November.
statutory employees - MQ
When you have to take off, do you call in sick like you would a regular job? In the past, I have and they have been quite unreasonable if I needed to take a day off for sick or personal reasons. What upsets me is when there is no work, Im stuck, no work, oh well, but when I need to take off, I better be there, I better work or they have been quite nasty with me..What has been others response? What have others done when they needed to take off? Thanks for your response!
Does MQ have STATUTORY EMPLOYEEs anymore under new plan????
Question for you Statutory Employees about retirement?
Any of you who work as an SE, have you ever looked in to an SEP IRA or an individual 401K for funding a retirement plan? I was just wondering if this is allowed, since the income is considered self employment income, but I have searched on the Internet and can't find anything to tell how the laws specifically apply to SE's. I know if I was an IC there would be no question. I already have a Roth IRA but the limit for that or a regular IRA is $4000 a year and that is not enough IMO for retirement, would love to be able to save some of my SE income tax-deferred. I'm going to ask my accountant about it but figured out of courtesy I would wait til after the tax filing season winds down. Just curious if any of you could help out in the meantime?? TIA.
Did you get the email this morning about the new pay plan for statutory employees. What is your
feeling. I know I cant struggle any longer or harder for money anymore. I agree. I am in all these different accounts to make lines, being QA'd on all of them and I just cant do anymore than what I am doing now so I am not sure what step to take next. I guess just wait and see what happens with the new pay plan. I hope that is not why they are hiring so many people because of concerns of a lot of people leaving because of it. Have you heard of more accounts being lost. I wonder where all these accounts are going.
What companies other than MQ hire statutory employees and are they hiring now.
:
Did everyone get that email from Frank L. about the new pay plan coming out for statutory employees
this morning. Does anyone have any idea what this is going to be. I hope I dont lose money after all the years with MQ but we shall see.
On this new MQ rewards plan what exactly is it offering statutory employees and I suppose that that
is going to be the end of our quarterly bonus. My concern still is if there is no work how do you get any incentive if they lower the base rate. Sounds like employees will have a larger window to get their work done which means we all will be scrambling around for work at all hours.
statutory
I know this has been asked before, but could someone please tell me the difference between statutory employee and just employee? TIA
statutory vs IC SM
Thanks for clearing that up, all this time I'm statutory and thought I was IC. So does that mean I could apply for partial unemployment??
statutory vs. IC sm
So if companies cannot dictate schedules to an IC, what about statutory employees? I haven't discussed any of this with my company in 5-7 years!! Now they suddenly need an update, wherein they want to demand a set schedule....
time off statutory
As they are quick to point out, as statutory you are NOT an employee and do not have empolyee benefits; they can't have it both ways, if you are IC and want to take off they really don't have a right to say anything; offices differ, but that's the bottom line.
SE as in statutory employee at MQ nm
Statutory status
When I worked statutory, they took out Federal, SS, and Medicare.
statutory status
I sent you an email.
Statutory employee s/m
was statutory for years until MQ made us all go to regular employee status. The one thing I loved about this job was freedom and they really took that away when they set us up as regular employees.
I just took another job as a statutory employee and am working out my notice with MQ. Love, love, love it. Statutory is the best of both worlds for me since I don't need bennies. The PTO was nice, but the freedom is worth so much more.
Statutory, I guess
PT, no benefits, no paid vacation/holidays, etc. The only thing they do is withhold my state/fed taxes. I work hours and days specified by them.
means statutory employee...
The link someone gave above has a section on statutory employee (SE) but are still independent contractors
Statutory status question....sm
if you are statutory status they take out federal, but not state taxes, is that correct? What about SS? Thinking of taking a job on statutory status. Thanks.
Statutory MT/Independent contractor
Does anybody know of companies that still hire Statutory or independent contractors? Since I take the standard deduction on my personal taxes I can no longer deduct my MT expenses and that's a major ouch. Thanks for any help.
question for statutory workers
What percentage would you recommend setting aside from each check to cover your taxes? thanks.
Doh! I thought SE was statutory employee. Sorry! NM
x
Statutory versus employee
Are there any advantages to being statutory versus an employee? Anyone out there working statutory who can help? Thanks!
It does not mention statutory anything in my letter dated 9/2/05.
I see "newly defined FT employee classification w/flexible...
I see New Part-Time employee classification w/flexible ...
I see Opportunity for PTO for part-time employees and increased PTO of up to ....
but I don't see nuttin about STATUTORY EMPLOYEES.......Statutory is not part-time
I only work part time statutory and
full time with another company, I have a little bit extra withheld from my FT job each paycheck. I try to save 30% of my SE job pay to have on hand when tax time comes, even though I don't need that much, it covers me for everything plus after tax time I still have money in savings. It does depend a lot on your life though, what deductions you have, what tax bracket, etc. I am single with no kids, so I wind up in a higher tax bracket, therefore feel comfortable only when I save more.
What are the benefits of working as a statutory employee?
x
Statutory Employee vs. Independent contractor
I work for company "A" as an IC. I work on Dictaphone ichart platform. I make 9 cents a line. Good accounts. Good managers. I have been offered a job as a statutory employee with company B, still on dictaphone, still 9 cents a line. Is justifiable to make a lateral move to company B just for the sake of being an employee? Tell me pros and cons please! Thank you!
too many variants. are you employee or statutory? what office? what reports?
not my office. you have to work so many weekend hours per pay period but you can choose the hours.
Question about SS - I am statutory employee and my employer withholds 7.5% for Social Securty - sm
I have only been a statutory employee for a couple of months (I was an employee with benefits with my prior company). My employer withholds 7.5% or "half" of the Social Security/Medicare 15% and I was told that will need to pay the other 7.5%. How does that work? Thanks in advance!
Can a statutory employee draw unemployment if terminated from job due to restructuring of company?
nm
Yes, they have a lot of employees
and no offense but all newbies because anyone with a brain and has a pulse runs, and runs fast.
So what does this mean for HIS employees and how do you know this? sm
How did you get this information? Is everything finalized and signed between Spheris and Heartland? What happens to those of us who work at Heartland? What's this mean to us?
What about all of the employees out there
who adhere to a regular committed work schedule only to find there is no work available for them?? Sandy--what about all of the people who are forced to work later and later (beyond their committed shift schedule) just to find work?? We ARE paid by production. It sounds like you are the princess in this scenario. You're speaking to a lot of experienced loyal MTs out there who KNOW that working from home is their only option because of all of the outsourcing over the last 10 years especially. It works both ways. I would think a Transcriptionist looking for work would find you a bit on the pristine side. All of us MTs want is just to work. I just left a national company because there was NO WORK for over a month. At least 30-40 other MTs left this company and went to a smaller company because of the work readily available to them. Take it down a notch, Sandy.
Only to employees
.
New employees on it?
I've only had that happen when new employees aren't following the account specs...and sometimes when it first does a new "upgrade" on the docs.
They don't have any employees, just ICs...sm
And I have been on that account longer than any other transcriptionists there. Usually they said what they do is take the jobs that come in on that account and divide them between the MTs. So I don't know. These docs have a bad habit of not dictating daily. Sometimes they will wait till they absolutely have to dictate and then BAM hit you with a load.
Do any Med-Quist employees
know whatever happened to Mark Forstein? He used to be the president of Transcriptions, Ltd. before it was bought out by MedQuist. He was Dave Cohen's cousin, I believe.
Go for it. HR needs to know if their employees are being "threatened". (sm)
They are having to offer huge bonuses to entice new employees, I don't think they would want their current employees walking because someone has no tact or ability to communicate with others.
Hope things are better today for you all.
How do you MQ employees manage
to get in your 1200 lines in only 8 hours? I am having a dickens of a time, lots of ESLs, new account, etc. Just how do you do it? I figure it will take me 12 hours! Do you ask them to approve OT or what? I'm new at this, need to know. Have to have that insurance.
Any other SS employees not received their..
paycheck? I am not looking to start anything, just wondering if I am the only one who hasn't gotten paid yet?
The prison's employees
Pardon my ignorance. I'm still confused. What does the prison system have to do with transcription? Why would the prison system hire transcriptionists to work in a facility as a transcriptionist??
For any Transcend employees (not ICs)..
Can you tell me if the hours are flexible at Transcend for full time employees? I think instead of being an IC (I don't want to worry about taxes, being audited, etc.) I would like to be a full time employee; however, I'm in school too and need flexible hours and can't commit to a strict schedule - I need to be able to have more flexibility as my hours are different every semester. Thanks for any help.
They have to be using overseas employees...sm
So remind her that while they claim HIPAA compliance, truth of the matter is that once the records leave the US soil there's really no protection.
I wonder if it applies to ICs or only employees?
I make a whole $9 -$14 an hour depending on the work, sometimes less of course when I get someone really bad.
They rotate employees so that no one
She should have reported those who were not doing very well.
The more times you use them, the lower their rates. I used to have MM come in 3 days a week and it was more than reasonable. Each time they came, one room received a deep cleaning. I loved them.
They are bonded, licensed, and insured. They provided ALL of their own cleaning supplies, didn't use mine. If they were injured in my home, they paid their own medical bills. If something was broken or stolen, MM reimbursed it.
Your friend's private keeper probably has none of that. If the keeper falls on a wet floor, etc., she will have to pay for her keeper's medical bills. If anything gets broken or stolen, she will have to file it on her homeowners.
Plus, with MM, you just write that check out and they pay all the taxes.
Your friend's private keeper probably isn't having any of the income appropriately reported and both the keeper and your friend could be in trouble.
LOL
Yes you can deduct it. Employees get
the same deductions many ICs do particularly since so many companies do not pay for large office space any longer, power, etc. If you have any question at all about how to do it, ask your accountant but Turbo Tax walked me through it last year and this year too. It used to be that they did not ask, but now they do and you can deduct your office based on the size of it and the mortgage etc.
What many offices used to have now belongs to us that work at home and yes, we get that benefit because the offices definitely cannot legally deduct for this. Some companies reimburse for your internet. Oh whoopie. Less are providing equipment. So now we do get to do a whole lot as employees because the costs of these necessities for work have been placed on us by cheap employers who try to get by with as little expense as possible.
ICs -- are you being treated like employees? (sm)
I filed IRS form SS-8, and boy did I get results!!
It took months. I had to fill out the very detailed form describing my work situation. The IRS then notified the MTSO and had them fill out the form. I just received the ruling that I was in fact an employee, so the MTSO now has to pay back taxes and penalties!!
It feels so good when something works the way it should, doesn't it?
Are you hiring employees or
In my opinion, independent contractor means you can take the work or you can refuse the work. If you are employing these MTs, then that gives you the right to dictate statements like "work first then play". Set schedules and hours are for employees and not ICs. That is where the trouble starts in this profession. Small MTSOs want ICs that ACT LIKE EMPLOYEES. Well if that is disappointing to you as an MTSO owner, then so is only making 8 cpl and then having to make a 24-hour turnaround and be at the mercy of the MTSO. JMO.  I save this kind of dedication for accounts that I have sought out myself (making 13 cpl) not working for an MTSO that only pays a small wage and wants a whole lot in return. 
that's correct, MQ's BOS is for MQ employees
x
then you need to hire employees ... sm
If you need someone to adhere to a strict schedule then you need to hire employees and pay their SS. I am finding that more and more employers want the best of both world. They want to pay like an IC and treat like an employee. Why MTs are putting up with this is beyond me. If they report the "employers" to the IRS they can be held liable for back taxes.
maybe...depends on how many other employees
there are on the IM. It may be that others are bugging them constantly.
Do y'all use email for backup communications? It would seem sensible to me to use IM for things that need "now" attention and email for "later" stuff. Can you do that maybe?
|
