Independent Contractor vs. Small Business?

I am negotiating a contract with a clinic to be one of two transcriptionists.  I have typed for this clinic for several years as a sub-contractor, but the current contract holder is not renewing the contract.  The clinic's lawyer is not comfortable with "Independent contractor" as the contract would be for one year and for the usual questionable definition of an IC. 

I tried to research this and just became more and more confused.. so I hope I can get a little advice here..  I do not want to be employed by the clinic - I prefer to be self-employed.  Do I make myself a small business and get a license?  I do plan to meet with my accountant to ask some questions, but I was hoping to get a little info here so that I would not sound completely stupid!  (Doesn't seem as bad to sound stupid here rather than in person!)  I am used to getting a 1099 and paying self-employment tax. 

Are you an Independent contractor or a small business?  I do not plan to have any employees..I just want to type for this clinic and get paid! THanks!

• Independent Contractor vs. Small Business? - noodle
  • This is confusing. An independent contractor IS - a small business.
    • no difference - msbeanctr

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I am hesitant to take that giant leap into being totally an IC.  I have an IC position now and my boss has offered it to me FT and he lets you work as much as you want. Basially I try to keep somewhat of a decent schedule.  I also work for a large outsource company.  I can make more money as an IC and have checked on a zillion insurance companies, all about the same.  I have never been without health insurance doing transcription and that is what scares me especially since I am older.

One friend has quit this company  that we work for already.  It is such a struggle to get line count especially since they do not pay for "S". 

Do any of you IC people that  might work for a smaller outsouce company regret being an IC?  I know that one has to be organized and set aside money for taxes but I feel that mentally I would be happier if I would just take the dive.  I have worked this PT position for 4 years and the boss is great to work for and he tells you all of the time he appreciates your work which one very seldom hears and he also has good bonus money for working holidays if you want and even gets you a Xmas gift which is very nice and he really is thoughtful and I know we make him lots of money, but he is lucky to have dedicated girls too.

I am thinking that I need the mental change and I will be doing the work type I love to do and that is OPs.  I have just lost my drive, motivation of going to work everyday for this national company and I just cannot seem to get beyond that barrier no matter how much I have tried. We run out of work, too many people on accounts, then have to sit and wait. My time is valuable just like theirs.  My doc wanted to put me on Lexapro and I took three and then I got to thinking I am not going to let my old hospital drive me crazy and depressed and I quit taking the Lexapro.  I need to focus on another goal right now.  I feel like Eagle Eyes are watching me all of the time.  The only thing holding me back is I have medical insurance with this other place but since being there I have only reached the 800 lines a day goal a few times and it took me about 10 hours to do that which is awful. It seems like you type forever and get nowhere.  I have lost my speed and I very seldom get to do OPs anymore.  I used to do 30 a day at least.

I want to enjoy life a little more and there are other jobs out there that do pay much better than I am making taxes or no taxes to fool with.  I have done this type of work for 29 years and maybe I am at that burnout point and just need a fresh change.  I really think I need a fresh start so to speak.  Thanks for letting me vent. Any feedback will be helpful.  I do not have any small children, all grown so I am very very flexible. 

Is it worth being an IC, bottom line????

I have worked for this PT company for 4 years and he has always paid on time, never a problem with paycheck and I personally knew him when he was a salesman for Lanier, so I am comfortable with him. 

It is a big step to take and he a 5-year contract with hospital so there is plenty of work.  I am a pretty organized person, but if it was not for that darn insurance.  Someone told me that the company that I am working for FT will have open enrollment in November and they are changing to a new insurance but you have to be producing 1000 lines a day to qualify.  With their platform it takes around a 10-hour work day just to get to the 800 lines. That is what we all thought, 800--no problem.  Boy did we have a rude awakening, everyone is struggling.  It basically boils down to how much of a hassle for doing own taxes very peace of mind and get back to what I really like to do without someone "dinging for every little comma, semicolon, hyphen and incorrect verbage.  I am a good MT but here lately I am beginning to doubt just about everything I type and I am always having my head in the BOS.  I have been doing this for 29 years, but I do feel like I am just coming out of English class and just a newbie which is not a good feeling at my age and exp.  I want to like to do my job but right now not feeling that.  Thanks for input all.

It's like being self-employed.  You don't get taxes deducted from your paycheck.  You have to do it yourself.  You are also supposed to be able to set your own hours, although some companies still make you work a shift.

Click here:

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.

I'm going to be able to return to work very part time since my disability is getting a bit better.  I have an offer to work as an independent contractor, probably not making more than 12 grand per year.

This will be my first time being a contractor and I'm boggled after reading the IRS info on the site.  Do I need to file for a taxpayer ID# or can I just use my Social Security number?  I think I can wade through paying the taxes, etc, but may have an accountant do this initially.

Thank's in advance, Becca.

If you are IC and you live in California and the company you work for is in New York, which state do you claim your taxes with??  The state you live in or the state of the company that you work for?

Thanks!

do the work at your convenience.  Within reason, yes.  As long as the work is done by the deadline.  But if you are partying it up or visiting friends or whatever and don't meet your deadline, then you have broken your end of the contract.  Yes, ICs DO have a responsibility, even though you seem to think they don't.  There is a deadline to be met.  It is completely irresponsible to be doing OTHER  things and not meet your work deadline.  As an IC, when you agreed to do the account you agreed to keep up your end and have the work done by a certain time.  If you don't want to do that, the MTSO can and will find someone who will.

What if you hire a roofer?  Is it okay with you if he just puts your roof on whenever he gets around to it?  Or is it okay for him to put it off if there's something else he'd rather do?  I think you know the answer to that.

I work about 25 hours per week for a company, making 7.5 cpl. I'd like to try supplementing with some IC work to try to make more per line. How do you go about scouting out legitimate work?

Thanks...

contractor you have NOT been in their emloyment.  You have worked as contract labor for them, whether it be 1 month, 1 year or 5 years.  They owe you absolutely nothing at any point in time of the contract.  However, should you contact their clients (as you mentioned below), there can be legal repercussions for you so I would seriously think twice about this before going forward.

As an IC, it seems you would know that you should not put all of your eggs in one basket. I would bet that most of us that are IC's work for at least 2 companies.  For the ones that don't, they probably work for 1 company and have their own accounts, OR better yet have all their own accounts.

TAT is of the utmost importance.  It only takes twice with me and I won't send anymore work to that particular IC anymore, which is my option.  I might give them a second chance IF their work was top notch.

It will walk you through everything and prepare a schedule C for you as well.  I would recommend this if you are going to prepare your own taxes. 

I'm looking start up my own small bus., just a couple accounts, but I need to know if there are any HIPAA contracts or anything else that I should be providing for the doctor and myself to sign.  Any advice would be truly appreciated!!

Thnx, Rachel

First of all, I have worked for several nationals in the past few years, and equipment has always been provided.  I currently have a f/t position with a national that I use my own personal computer for, they just put their software on it.  I had what I needed already, as far as foot pedal, Expander program, etc.

I have just been sort of rolling ideas around in my head about possibly starting up something small perhaps on a p.r.n. basis just to bring in a little extra income.  As I am still just mulling this around in my mind, my questions are:  How do I go about getting started? Do I try to purchase equipment first, or start out using tapes? I am worried about spending the money and not having any takers, so I am thinking, I should send out some sort of letters first; but, without having the equipment already, how do I tell them I plan on doing their transcription.  Maybe mention tapes first, and tell them I have plans to go digital after I get up and running? These are all just things I wonder about.  If anyone has any ideas, please feel free to email me with any advice. 

I have been an MT for 16+ years, but as I said, I have always had all of the stuff provided for me and just don't know how to start. 

Thanks in Advance!

Vonage nor Comcast work with all equipment (static, echoing, etc.) and I would be interested in learning more about what "the fine print" says for these two companies.  So, you must be misinformed because I have a sister who works at AT&T and no matter what package you buy, MT IS NOT ALLOWED.....and that is a FACT!   

I've asked this before, but now have new problems and am hoping to get some advice.  I've been working at home for a small clinic (one physician).  Her husband, who is the doctor's husband, let me go due to physical problems that kept me from doing some additional duties they needed me to do; also, my not being a "team player"--not enthusiastic about the extra duties.  So I'm at home with no contract now for about 1-1/2 months.  The OM didn't think it was necessary--he said "we trust you!!"  The OM calls me on the weekends or nights with requests or questions, and messages get increasingly snippy if I don't return his calls ASAP.  This week I had a job interview out of town, because I cannot live on my current income (approx $850.00/month gross).  I informed the office I was going out of town.  During the time I was gone, less than 24 hours, he called three times and sent an email.  It wasn't anything that could not have waited until I returned and responded to one of the phone calls or email.  I feel like an offsite employee (with no benefits) rather than an independent contractor! 

How should I handle this?  Probably, as my daughter tells me, I should just put up with it until I can find another job.  Any experience with a similar situation?  Thanks--

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http://www.dol.gov/esa/whd/regs/compliance/whdfs13.pdf

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IC contractor out of state where company is, how to file
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Not sure how to file taxes... Work in PA, IC to IL, do I have to file taxes in IL?? Any help on this I appreciatejavascript:editor_insertHTML('text','');
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Are you venting as a patient or as an employee/contractor? -nm

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Independent MT

I don't know if this is really where to post this, but I'm not a new MT. I have been doing this for almost 3 years. I have been working for companies and want to get my own doctors. Any ideas on how to advertise? I was thinking of mailing flyers, but am not really that creative and don't really know what to put on there. Any suggestions would be appreciated.

 

Thanks!

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I am independent, and believe it or not have a
family and taking a vacation for about 9 days this year. You were saying what could you do and if you still have burn out after a week when coming back to work, we all come back to work, would you be happy to return and no work?? I just said if not happy about returning and you have family and life and burnt out when returning, then you already have my answer. Work, take vacation, return to more work, family still there OR take vacation, do not return to work and stay home with family. Simple, the way I see it.

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I would say no, you are an independent
contractor, not an employee. Minimum wage only applies to employees.

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