I'd get a new accountant. I work FT as an
Posted By: me on 2008-11-16
In Reply to: I am not sure, I have a unique situation, but sm - I am single too
employee, have since day one and I can itemize and claim everything but the self-employment taxes.
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Not an accountant
I am not an accountant -- you can ask a financial advisor or someone. I do have a business, business license - pay city business tax, etc. Registered name with the state. So for me I can. Also should clarify that what you can contribute does depend on what your income is after your business deductions. I cannot claim all of the 10K that I contribue because after all my deductions my income does go quite low. But I continue to contribute it to both an IRA and SEP so that I can maximize my deductions. But being an MTSO/IC does give me more usable income because I do maximize my deductions and plan for the future.
Man! Do I pay a lot for my accountant!
I've given him 22 of the best years of my life, two children, and I do most of his cooking!
But, seriously, my husband is a CPA, and yes, he uses TurboTax. He uses the professional version which has a few more bells and whistles, but that's what he's used for years, and that's what he recommends. In fact, he really wishes his "shoebox and paper bag" clients would just learn to use TurboTax. He has to do corporate returns by March 15, and those suck the life out of him. He doesn't even bother with anyone's personal returns until after March 15.
Unless you have a complicated list of investments, unusual expenses, multiple businesses, or nonprofit stuff to file, you probably would manage just nicely with TurboTax.
As for me, my return is already completed. If he doesn't do it now, he won't have time to finish it in April. I haven't done a tax return since I was 21 years old. :) Lest you feel jealous, know that he can't do a darn thing mechanical around the house, and he snores like a bear! Happy New Year, and Happy Tax Season!
I am going to be an accountant -
I will graduate in December with my associates degree and then on to a job somewhere out of transcription while I work on my 4-year and CPA.
MT to accountant?
I am looking at going into accounting (associates degree - obtaining it on-line). Does anyone have any thoughts, opinions, ideas, suggestions, anything that might be helpful or useful to help guide my decision as to whether or not to pursue it? It will cost me about $8000 over the next 2 years, but I will be able to continue to work full-time as an MT, though will be trying to juggle full-time MT, full-time school, and a 2-year-old, so it will be interesting. That's about it. Any opinions are well appreciated.
per my accountant - and being on production
being on production, you don't know what you're going to make - so it doesn't apply to us. In the beginning, I used to pay quarterly. I now pay annually and the IRS just returned $3700 in overpayment to me for this year. Yep, I just recently received a check back for overpaying my 2005 taxes!!! As long as you pay and on time, the IRS lets us do this. Been doing it this way for years now and I have no IRS problems *thank goodness*
Better get a better CPA/accountant if they don't tell you these things......or maybe different strokes for different states, but I don't think so.
I pay yearly also....per my tax accountant. sm
It doesn't matter as long as you pay - quarterly, yearly, etc.
You really need a good accountant. sm
SS# is fine. You will need to give your contractor a 1099 at the end of the year and deduct her income off of the top. That is a deduction for you from your gross.
Really, though, you need an accountant because things do tend to get a little tricky.
Good luck!
Check with accountant
Pay the money and get do a consult with an accountant so you can understand the basics and know what and what not to do. The money is well worth it. Or get an old copy of Turbo Tax for self employed to see what you can and cannot use for deductions. All of my accounts use by SSN on my 1099 which will will receive from them and in turn prepare a 1099 for your IC or subcontractors. Be sure that they meet the requirements for IC's. Go the IRS website and this will give you some information but again I cannot stress with all of those who are starting out find a good accountant and get their expertise advice. After 2 to 3 years of having my account handling my business, and our joint tax returns and advice, I am now able to do it on my own with Turbo Tax for the past 15 years but to begin with you need some expert advice. I am not knocking you but it really sounds like you do not have an understanding of even the basics of how to handle the taxes and finances of your business so you need to do some homework and get some advice. It is simple but again with his/her help you will know that what you are doing is correct and that will cause a lot less headaches in the years to come.
Patti
Yep, me too. My accountant deducts these
every year and I am a regular employee, not IC.
Thank you. My accountant has given me advice.
He said I should pay the contractors less.
Yes, the point was for me to make money.
What I'm saying is that it is tough. Not just for MTs. It is a tough business right now. There are lots of companies who can snatch my accounts easily. MTs want more money, clients want faster TAT, I have to be able to afford my equipment and business overhead (and it is SLIM, very lean) but apparently I am the one who is supposed to do without.
Everyone keeps saying to just pay less. Then MTs will quit. Then I'll be forced to send work overseas.
It's a mess.
Appreciate your reply, though.
Get an accountant...even H&R block will do.
I made the mistake of doing the taxes myself one year (TurboTax)and ended up getting audited for that year 2 years later. Luckily it only cost me $1200 but I'm sure it could have been much worse. I just go to H&R Block. At least if I get audited again, they'll handle all the work AND pay my fine if it's something they messed up on.
become an accountant or personal trainer
Although I dont make under 10$ an hour as an MT, try working more as my supervisors and managers have told me in the past when I have asked for a raise. In all seriousness, where do you work that you make that little? Are you paid by the line and how much? Switch companies, do not accept less than 8 cpl. I saw an ad for MDI and they start you at 8.5 cpl. IC's usually make 9+, if you do not need the insurance coverage.
Hmm. Every doc, nurse, attorney, accountant
I know is making WAY good money and none are working at McD's!!! LOL
I dunno know - leave it up to my accountant. That is what I pay him for. nm
x
If you had an accountant do your taxes, contact him or her. nm
x
See an accountant. I'm sure you saved your old income tax
zz
get an accountant -- you can take off their fee as a tax deduction and to me, it's worth it to ma
sure my taxes go in quarterly and correctly so that I don't get slammed at the end of the year!
Taxes regarding self-employed = getting an accountant
Get yourself one, and he'll explain everything you need to know.
I wouldn't file w/o an accountant. sm
I know some use Turbo Tax and the like with success, but I like the security of having an accountant tell me what I can and cannot deduct based on my personal situation and facts. You can find private CPAs that don't charge an arm and a leg and the amount is also tax deductible. Our CPA does our taxes and answers questions throughout the year for a very nominal flat annual fee. Well worth it, especially if you ever get audited.
Don't forget the accountant's/bookkeeping
Legal fees, Internet service, subscriptions, dues to organizations, repairs to equipment, % of office space, postage (if applicable), mileage (if deliver/pickup), advertising (if applicable), security system (burglar alarms, etc. if applicable),probably more I can't think of right now.
Why don't you ask the accountant who did your taxes last year?
I'm sure they are better able to answer that question than anyone here.
I suggest you seek out an accountant sm
Since you have no experience as IC, you really need to talk to an accountant. Honestly, that is the only way to be knowledgable about it. I had to do that 18 years ago when I started as IC. Each year, the tax laws are updated, new write-offs, things you were deducting can't be deducted anymore, etc.
I have had the same accountant now for about 12 years, and he is not that expensive. Last year, he charged $180. Not too bad.
I would call a tax attorney/accountant in
x
That's right. Would you give your plumber or accountant a raise?
Or, since they're a business and not your employee, would you expect they will raise their own rates when necessary?
You need to talk to accountant. His fee is tax deduction, you will want several dedections each
6
Don't worry about what you have to pay an accountant. You'll make it up
you OVERPAID your taxes by almost $4K? Sounds like YOU're the one who needs a better accountant.
x
I'm repeating what my accountant told me. Go argue w/him I guess.
He said find out what you need to make and then multiply that x 3.
I paid at least 30% tax last year, or more. even with my piddly deductions.
Do u think a lawyer or accountant or doc has "QA" person - nope, if they screw up... they scr
As an MT, we know what our job is period. WE produce a report at 98% quality or better. This should be done without QA as we should take pride in our work and make sure it is correct. Of course, then again, we are "tested" for a job. Other professionals are not. I refuse to be. If a company mentions a "test" that is a big turn off for me.
Bottom line - know what you are doing and complete an accurate report (within 98% for human error rate which we all have) or learn another field... not a hard concept
I get my work from an FTP site that they load the work to, however I don't have pool work so to
speak, but I tell them how many minutes a day I want. The work is generally put in my box by 5 pm every day, then I have until 10 am the following day for some priority work, or 3:30 pm for the rest, so TAT is not too bad. I would like to work less at night though, but I working on that. My downside is I do not get the same dictators day to day, there are a few I do on a semi-regular basis though, some generate great lines but take longer to do that other doc's and are not "money-makers", I also do not get paid for spaces so that hurts a bit too. This is WP5.1 too.....so very antiquated but that is what the hospital uses, so not much choice there. But I understand what you mean about the C-phone. I was just doing another job with C-phone recently...they incidentally did not tell me how to get off of the system, which was very simple. I'd finish a job, then hit stop and hangup if I wanted to get off or quit working. That is what you need to do if you want to sleep, eat, etc. Don't feel guilty, do what you signed up for, believe me they watch the pools and will get others to do the work you don't finish. If they get on your case remind them that you are only PT and only want 500 lines a day, etc. It's not worth killing yourself over. Good Luck. 
You go by your schedule and have no work. Everytime I get on to work, there is always work.
x
Then you would have no life at all except work, work, work if you did that. I wouldn't do it. nm
.
Same thing with nationals. You work all the time to keep the account caught up when others dont work
and then when they decide to put a whole lot of extra people on your accounts and run you out they could care less about how much you worked.
Have a hospital I work for and they consistently change work types and do line counts. (sm)
Management just doesn't understand in order to crank out the work you need to be proficient by typing the same accounts. Go figure, they just don't get it ??
Usually work "live" on a Cphone, while connected. There are ways to record & work off line, bu
s
steady work...gearing up to start new account....but there was no work on Tues as it was a holiday
Be patient with your eyes open....
I work for Warminster at MQ and I am sick to death of being jerked around with no work all the time.
I would like a job where I can depend on the work and it does not seem to be in this office of MQ.
Speaking of offshoring MT work, who does not directly send work offshore?
Just curious. Has anyone got a list of companies who do not send work offshore? Precyse? MQ? Spheris?
Becky you work in a great place. With no one hovering, I bet you get a lot more work done w/o agoniz
wants what. The only people qualified to do QA on my reports are the dictating doctors and the rest is just pure waste of money and time. If I have a question fine. But this random QA bites and hurts everyone. BTW, I don't have random QA for those who seem to think I may have an ax to grind. No dog in this fight. Just common sense.
Good. Why dont you send some our way. What office do you work for so I can call and get your work.
:
Before needing to work, I did volunteer work through the Junior League where I am from in Texas. lm
Junior League was like a full-time job sometimes, but I loved it. Now that I have to work, even though it is from home, I still volunteer through my son's school. I am a school teacher in my previous (pre-MT) life, so I volunteer my tutoring services for children who need the help beyond what the schools are able to provide but whose parents cannot afford to pay for private tutoring. I also know how you felt about being afraid. I was strangely afraid before I joined the Junior League. It was just the unknown. But I was SO blessed by being able to help. Honestly, I am sure that it helped me just as much, if not more, than I helped others. Go for it. You won't be sorry. (Just remember that you have to say NO when you have to say no, okay? Remember that and you will be richly blessed by the experience!)
nm would you mind if I asked where you work and what type of work hosp, clinic ?
x
All I know is it caused the company I work for to be unable to do all work due today and the rest
:+
Just return the work, submit your bill, the scurry and find more work elsewhere. sm
They will never meet with you before next week. It is Thursday, already. Be prepared to sue for payment, because you will probably need to. But, most of all, find other work elsewhere, because I have a feeling this final payment will be a long time coming.
I work on Escription platform and the adapter didnt work for me. I tried it on my laptop though
and the foot pedal would just not play correctly with the adapter. I think others have tried it and done it but it just didnt work for me.
IC sets their own hours. As long as the work is done by the deadline, you decide when to work.
Glad I work somewhere where you cannot cherrypick....our work is divvied out by minutes and - sm
the office manager (who does not normally transcribe) dishes out the work, so some days are easy, others are a mix. So no cherrypicking is possible. You type up what is given to you, period. She will alternate the tough one's out so no one person gets him/her all the time unless they want him/her and are used to that doc, or everyone gets a little piece, etc. There are days when I ask for easy work (tired, chemo day, Jen sick, or a lot going on, etc.) but not often, generally I get a mix but they all get easier the more you do them. I am not working as much as I should be of course, every week is different here so I adjust my limited work schedule accordingly, so sometimes it hard to get better at certain docs. I used to have a lot of blanks with the Trauma ER unit, but I have been doing that a lot lately and now and very good at it, still a time consuming account but at least I am improving. ----------------------- But I believe the OP was stating she did it to clear out the log, not to make more lines, and only when she was asked to do so. At an old job I had #s meant everything, everyday we would get report (2=4 x a day) of the backlog, and emails pleading us to work, work, work. The QA rules sucked  (MQ probably is basing their new plan loosly on this one), however we did not get penalized, just chewed out if you sent in too much work to QA (over 5%, and was 80% ESL), I would imagine eventually fired if you continued to do it. They were a great place to work for until they re-organized....it all went downhill from there. This is why I prefer smaller MTSOs, it's not all about the #s, yes, they want production too but at least it's not so cut-throat. 
i used to work for a company that divided the work types up and i loved it. sm
there were only 4 of us working a major teaching hospital. someone was assigned surgery, different assigned discharges, different admits, etc. we all had the backup work type in case the original assignee wasn't available and were cross trained. it made us much more efficient, ability to get used to dictators, set macros, and in the long run we were all much happier.
Used to work in Cooperstown, NY - and on the way to work is a huge turkey farm
It made me never want to eat turkey again - seeing them all cramped up against the fence and cages, packed tightly, no room to move. Actually, it made me want to do some harm to the farmer who found this acceptable.
Do not work for Amherst if you can work for any other office in MQ. It is terrible. They overload
accounts terribly. We are always running out of work or need to have 8 or 9 backups to get lines in. This is the way it is. There may be a few out there that it is different but I do acute care and was just transferred there along with my office and everyone in my office is in the same boat. Not a good deal at all.
An MQ recruiter told me yesterday if work is low they "cut off" the work
SEs are doing it. She also told me that it is written in MQ policies
that MQ can let go EMPLOYEES without notice (I'm not saying statutory employees here, I'm saying employees).
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