If you had an accountant do your taxes, contact him or her. nm
Posted By: Taxi payer on 2006-03-06
In Reply to: IRS says I owe $$$ for self-employment tax (sm) - need some moral support until I call
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Taxes regarding self-employed = getting an accountant
Get yourself one, and he'll explain everything you need to know.
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.
you OVERPAID your taxes by almost $4K? Sounds like YOU're the one who needs a better accountant.
x
I would contact the bank, stop the auto debits, contact the lender...
Contact the lender, explain that you stopped the payment because of financial difficulty. Ask if they have a hardship plan. You probably have a 20-day grace period on your loan payment, (they report to credit bureaus when 30 days late) and you probably also have a grace period on your insurance. In the meantime within those 20 days of grace, FIND A WAY to make some cash. It seems, at least from my experience, that when you get behind, it is almost impossible to catch up. If you use next month's check to pay last month's bills, you never get out of the hole. I've been in that downward spiral and I understand what you're going through. I've sold things on Ebay, consigned clothing at consignment stores, and worked two jobs just to stay afloat at times. Every little bit helps. It can be done. But don't WAIT, call them today!!
You mentioned the IRS. Try calling the Taxpayer Advocate's Service toll free at 1-877-777-4778. They are independent from the IRS and their function is to help solve IRS problems that cannot be solved through normal channels.
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.
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.
I'd get a new accountant. I work FT as an
employee, have since day one and I can itemize and claim everything but the self-employment taxes.
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
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!
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.
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
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
As an IC when paying taxes, are SS and fed taxes sent SM
to the same place?
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!
Did anyone contact HR at MQ yet?
If anyone has yet contacted HR at MQ, please post underneath what was said to you. 
Be sure to contact the doc and tell him! nm
k
How can we contact you?
There is quite a bit of due diligence required if you are planning to seel a business. The "typical" selling price of a business is 3 years revenue, but that is also based very strongly on its profitability, but I do have a group of independent MTs who may be interested.
I would contact that QA or his/her
supervisor and ask them to relisten.
I would contact...
the person that makes this program. I have had good customer service from him. It s/l something might not be set up correctly perhaps but Vann Joe would probably give you some help/tips if you asked. He has always been very helpful when I have asked questions regarding his products.
I have been using MP Count for quite some time for counting by gross line, and find it quite accurate.
HTH some.
contact me
I would like to discuss this with you, please contact me at my email address.
Thanks
Nothing that big, he was not there when I tried to contact
about it, sent instant message. it was report that always goes under STAT and I think had to let someone read over some blanks. He contacted me that night and we talked about it and I got it ok but then I had follow up wrist slapping the next workday from the higher up than him. What I was wanting to know does this go on with others, first 1 boss, then another boss- felt like tattling in grammer school with this.
I came in contact with them (sm)
And they gave me the simplest *test* which was basically not even medical dictation, and they tell you that they will *train* you and then provide you with a job, but first you have to buy *their* software. Fortunately I did not fall for their scam, but others have said that after your *training* and they test you, you never really get good enough for placement. Please believe the other posters. It is a huge scam.
Get rid of them (and if you pay well, contact me! LOL) nm
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I would contact whoever is over you....sm
And explain to them and let them see who is right and who is wrong. Some QAers may need to be corrected.
You can also contact (sm)
AccuSTAT, Inc. in Wisconsin. They posted an add several days ago on the Job Seeker's Board for an ER transcriptionist. They appear to have a really good reputation.
Thanks I will contact them...
Does anyone know if it also works with Emdat Inscribe then?
You really need to contact your sm
prosecutor's fraud unit and see how they suggest you proceed. You really need to be careful in posting her name and address because since you are an IC and she the "debtor" you may be putting your self at the very least in violating debt collection laws - penalties are not cheap. I believe you posted this a few weeks ago, right? Did you send that formal demand with return receipt giving her a deadline to pay? That's the first thing they (authorities) will ask for. $16k plus is a HUGE chunk of change. I really think you will need to resort to legal matters to collect, and probably by judgment. I know it's frustrating, but posting her name and address on the internet is liable to cost you much more than the $16K.
Can someone please tell me how to contact IRS...
anonymously to report an MTSO who is dictatorial in setting schedule and pay? I'm literally SICK of this and I am going to DO something instead of complaining about it. Maybe if just one individual does something about these cheapo, demanding MTSOs, it will stop after time. Thanks for the info!
Please contact me at the below
vlegalcontact@aol.com. Send a brief write-up on your business.
Friendly HHS contact
I was wondering if anyone had the name and number or E-mail address of a friendly person at the Department of Health and Human Services? I have a couple quick short questions concerning the HIPAA regulations.
Thanks.
There's 2. Got the contact name or the state? nm
s
Contact lenses ? sm
 I got new contacts a couple months ago and am having trouble with them collapsing after a week or two of wear, making it really hard to get them in. I am beginning to believe they are making them softer so that we have to replace them more often. TIA
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