Even after paying taxes, you end up with more
Posted By: money than you started with. nm on 2008-01-03
In Reply to: and then you have to pay taxes on the interest LOL - QA girl
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As an IC when paying taxes, are SS and fed taxes sent SM
to the same place?
If you do your taxes properly, you certainly SHOULD NOT end up paying...
40%. Obviously if you have no deductions other than the standard, you will pay more, but even with only the standard deduction, you shouldn't be paying 40%.
As far as paying taxes, if you hire as IC..
you don't have to pay any taxes for your friend. At the end of the year, or actually the beginning of next year, you will have to fill out a 1099 and send it to her and file a 1099 summary report with the IRS and then you report what you paid her on your taxes in April. You can purchase the 1099 forms at Staples or any other supply store. You might speak with your accountant (if you have one) and see what he says but that's all I had to do.
Also, if you are setting your own rates, I would go to the 65-character line for all clients if I was you. It's wise to make up a contract for each client and have them sign that as well. You can probably find sample contracts on the web.
Good luck! If you have someone willing to work for you, farm out some of the work that you can't handle and see where the chips fall and then you can decide if you want to stay with the national, etc. Word of mouth spreads fast in this biz so you might end up with more clients sooner than you think and then you can call your own shots. :)
But the husband will be paying taxes
If he becomes the IC and they earn 24,000 in a year on IC income and he pays her $10,800 -- she will still pay taxes on that but it will just not decrease her social security of whatever it is. And she will have to pay the 15.75 SS on that. He will then pay income tax and the social security on the 13,2000 that is left. Even though she does all the work. Someone will still pay on the remaining amount. So will they be ahead -- NO. She probaby should have just become an IC out and out and wait to collect her retirement or SS. But there is a difference between SS and taxes. So when they combine their income they will still be paying taxes on that total amount, and if he earns anything it will be higher than just that.
I agree too. WE are paying SS taxes--sm
which is SUPPOSED to be an account to help people after they retire so they can continue to live a reasonable life. It is NOT a handout, and I think the poster who suggested such was thinking of SS disability, which is not the subject of the conversation at hand. Some are just LOOKING for an excuse to judge someone else.
you need to be paying quarterly estimated taxes(nm)
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To clarify: 6-8 CPL with NO BENIES, PAYING 40% in taxes IS a ripoff
Line rate with benefits and without is a BIG difference.
IC's get robbed. 7.5 cpl with no benefits is rediculous.
If you're making 15 CPL as an IC you're only making/bringing home the equivalent of a 7.5 CPL benefited MT.
So I can see why you would gripe.
Now with full benefits and taxes paid and insurance and 401K and PTO and holidays, etc...7.5 CPL is TOTALLY acceptable.
I'm with you on the illegals, but paying taxes is not an insurance policy.
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START paying property taxes?!?!? Honey I HAVE BEEN all since I got this place!!!
"If you want to be treated like everyone else, then pay taxes like everyone else"
Well thanks for ASSUMING that you knew that I didn't pay taxes. Every single person in this place that I live (300+) pay taxes. We don't own land so we don't pay taxes on that. We pay it on the home. Then our rent payments for our itty bitty pieces of land helps pay the propery taxes for the site.
In Michigan they don't? Seems hard to believe they would do that. If they don't pay it on the home then I would think they would paying it on the land or if they are in a park I would think that the park OWNER would pay the property takes for the large site.
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.
What are you paying your MTs? If you're only paying 7 or 8 cpl
and expecting extremely experienced MTs, forget it. You're not going to get it. If, however, you're willing to pay 9 or more cpl then you will find what you're looking for. There ARE experienced MTs out there who will work their fingers to the bone IF they are compensated well and treated with respect.
ATT- I was paying $320 for 7000 minutes, I am now paying $175 for 5000 minutes in CA. nm
nm
THANK YOU! That is my point. She still pays taxes, her DH still pays taxes...
so who exactly is getting cheated? And just who are you talking about when you talk about whether it is "fair" or not. I don't give a crap how much taxes my neighbor pays. It's none of my business. And if I found out they were paying less in taxes than me, I would ask them how they heck are they doing it so I can do it too!
I just want ask, is it necessary to get personal and insult? You disagree with me, fine. But I've been called a liar, a cheat, a no-ingetrity thief, my intelligence has been insulted, and I have had my parenting skills questioned. That is a little over the top. If you cannot debate an issue without resulting to personal attacks, then YOU are the stunted one!
It is a very good thing that some of you work at home, ALONE! You are sorely lacking in people skills and diplomacy. Let me guess, when you worked in the office you were one of those girls who didn't like to share her desk, griped if someone dropped a crumb on your desk, and kept track of everyone's breaks, lunches, and line counts just so you could tattle to the supervisor! I've worked women like you, it was like working with kindergarteners. That's why I came home to work. Do us all a favor, looking in the mirror, count your wrinkles, and realize that this isn't high school anymore!
Why would they be paying for
the loss of lines when the lawsuit is not settled. Plus, I don't think the small amounts will be sufficient to cover the loss of lines.
Duh - I'm paying $2.79 for gas and
my heating and electric bills have NOT gone up in 2 years and my rent hasn't increased $500 in 4 years, in fact hasn't increased at ALL in 4 years, etc.
You're one of THEM, arent' you? One who wants to complain but when someone says do something about you get all defensive. LOL
Chatter away ... not interested. LOL
If you are paying too much for gas
Just copy and paste into your address..........this is really, really cute!
http://toccionline.kizash.com/films/1001/178/index.php
That's the old way of paying....
imo, not good pay unless a 30 minute tape can be done in 1 hour or less.. some of my 30 minute tapes take me 3-4 hours to do because of the dictator.. be careful
Wow, I don't know anyone paying that much!
Sometimes if I get too far behind paying
my internet bill, my IP provider seems to start doing that as if to remind me I better catch up or they'll shut me down. It's irritating, but it does get the job done LOL
I used to do that, but it was not paying off. SM
I haven't had a report returned in years. Believe me, if I got caught with a mistake, I'd be doin' me some heavy proofing too.
who is paying 11 cpl? - nm
nm
Are you paying me?
 Am I on your payroll? Do you pay my mortgage? Do you put food on my table? No you don't. Therefore, don't worry your empty little head about how I spend my time.
Huh? Can you tell us some more about paying
less than 1000 in taxes a year and how that works?
Not in Writing, but they are paying
Spot checks show they are paying me for spaces and for headers.
They probably aren't paying for it anyway---
That's why they charge so much for dues, etc., so the "higher-ups" can attend all these wonderful conventions in expensive places. I dropped them years ago. They don't have a CLUE that we are all scratching just to survive-- not with their "Let them eat cake" mentality! I wish EVERYBODY would drop their memberships and then see how often these idiots go to Hawaii when they all have to get a REAL JOB.
Paying for college for my son..
My son is attending college and I have paid for 2 years through a junior college, but it is now time for him to move to a major university. Because of my salary of just over $40,000 a year, he has never qualified for any type of scholarship, only student loans (which I have paid back). Does anyone know of ANY scholarships, etc. that can be applied for? I know nothing at all about how the system works and feel I have failed in trying to help him (it's all I can do to hold down 2 jobs in order to make the $40,000). We even tried to have him set up on a student work program, but they said you could not do the student work program if you were getting student loans. It was like at every turn, there was something to disqualify him from getting assistance. He carries an 'average' grade point (more interested in social aspects, of course, than his studies). He has never had a counselor at the junior college that helped much. He is interested in sports administration, so the junior college counselor did not know what field to put him in, so she put him in liberal arts, and now we find he needs some other classes instead. I'm searching for any help with limited time to search. He tries, but he does not seem to get anywhere either.  ANYTHING ideas would be appreciated, and thanks in advance.
re: paying your FICA,SS etc as SE
I beg to differ with you! Been with MQ for 17 years, they have always paid my federal & SS...they do not deduct any state taxes for SE's, and this is the only one I've ever had to pay.......never been audited about having to pay part of the above and have professional tax folks do mine, again, think you need to check your facts on this one.
anything to keep from paying for a space
That is ridiculous and has to do with money rather than the "correct way" to do things.
I don't see them paying more than 15 an hour, and thats being
Right now I average 20-25 an hour. I'm barely making a living on that. If they switched to hourly, production would fall dramatically, creating backlog and lost accounts because of late work. Not a good idea.
I had a doc tell me the other day that they were paying a service 7 cpl...
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I agree . . . unless they are paying you
Don't do it.
Ask the docs what they are paying now and go from there. nm
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They are getting exactly what they're paying for.
.
Is this what you make after paying everyone else? - sm
If so that is fantastic! So much for working so little, how nice is that, granted the buck stops with you and you have to clean up any messes, etc. but for $78K a year I'd be quite happy too.
Yes, if you think the companies are not just out for themselves and will try to get out of paying
nm
MTSO not paying...
My heart truly goes out to you. This is certainly no way to run a business! Myself, I would probably have said something I shouldn't have and not had a job afterwards. I do so hope it gets better for you.
MTSO paying
As MTSO, I have a hefty cash reserve/line of credit attached to my business bank account. My payroll is never late, even if clients are late paying me. If credit line is paid back under 30 days, it is pennies to use. That's just my cost of doing business to ensure my MTs are paid on time. Most MTSOs I know do the same. If this person is filing personal bankruptcy, she probably can't get any credit at all.... and MAY be a red flag as to how she runs her business as well. It looks like you will be at her mercy in the future. I'd say keep looking -- there is a better fit for you out there.
in my opinion, what you are paying for gas alone--sm
not to mention the daycare, would be enough to cover your purchasing your own insurance. PTO is not worth it if you keep running out of work and have to use that to cover it. .09 cpl is not much for a hospital. Personally, I would tell them if they did not send me home, they could kma and I would find another job at home. You would actually be saving money, in my opinion, to go home and work from home...no more daycare and no more gas. How about hubbie's insurance?? There are pitfalls with any job, including the one you already have. You can find one that suits you from home. they are out there, you just have to perservere. good luck to you!! Happy TG.
Paying a subcontractor
I am going to take in a subcontractor in an on-the-job training program. I want to know your input on paying them and paying yourself for the training. I an setting up an on-the-job training program. As an independent contractor, I receive 8 cents/line. I am going to have the subcontractor work with me in my office at my other work station, and I will teach her everything and QA all of her work closely until she is up to speed. I was thinking of paying her 6 cents/line and me 2 cents/line. What is your input on a suitable division of payments?
Are there really ICs that would take an account paying....
On the job board there have been several postings for IC positions paying 8 cents to as low as 6 cents. Are there really MTs that accept this? When they accept this, do they understand the expenses that they will incur? Some say setting your own schedule is worth it but these positions are set schedules. They say they are not but if the work is not done during that time, it goes to someone else. I personally, would not take less than 10 and even that is low.
paying to commute
What is so funny about being paid to go back and forth to work? I worked for a company that paid for my gas mileage AND my car repairs. I drove a VW Rabbit that needed little to no repairs, but still....they paid my mileage and my gas. Leave off with the nastiness. She has a legitimate right to post what she wants as does everybody here.
How about paying on-call!
Speak for yourself. Some people like a steady flow. Not nothing one day, and then work 12 hours straight the next. This is called on-call sweetie!!!!!! Should be paid big bucks for that!!!!! 
What are they paying for EditScript?
Just curious.
Unless they are paying something like 12 cpl I wouldn't
even consider it. Not only does rerecording take time you aren't compensated for, it reduces the sound quality of the dictation, plus you may/may not incur long distance charges.
I did it many years ago and I got an adapter at Radio Shack for about $15 and hooked it to my phone and recorded to tape. So you would need the adapter, tapes, and some type of transcriber to play the tape.
There is a probably a way to record directly to your computer too, though I haven't looked into it and not sure what all that would involve.
If you don't want to mess around with paying
quarterly, have more withheld from your husband's check as you file jointly. With that and your deductions you should be okay.
Paying for spaces vs. Not
So, I've been offered a position at .11 cents a line, but they don't pay for spaces. They do, however, have templates set up with lots of headers there that they do pay for. I am currently making 0.95 cents a line and get paid for spaces, but not headers.
What's the bottom line when it comes down to how much you make - anyone know? I can figure this out, but thought if someone had been through this and checked it, it'd be a little easier. Thanks!
Peanut paying?
Maybe I'm still in the newbie league (3 years in MT) and don't know the score, but I don't consider making over 40K a year with benefits after completing a 14-month online course and 3 years under my belt to be peanuts. I also don't work in a sweatshop environment - I have flexible hours, an understanding supervisor who leaves me alone, and work in the comfort of my own home. I used to work in corporate management - now that was sweatshop!
Yes, definitely paying too low for that experience, and
the chances of anyone with that amount of experience taking that crap is slim to none! They may as well hire a newbie!
And whose salary are YOU paying...nm
Do not work for her. She is known for not paying. nm
nm
I think when clients were paying
what they considered to be 'top dollar' they felt they had every right to be picky about sentence structure, and the placement of every comma and semicolon, etc. Now that they want to pay 'scratch & dent' prices for their reports, they have to be willing to let some of their former pickiness slide. Not to say that they should accept reports riddled with errors, but some of the stylistic items that have no bearing on patient care can be overlooked - to save a buck.
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