Make sure there aren't other taxes that you're overlooking.
Posted By: sm on 2008-01-16
In Reply to: I have a tax question ...sm - Thinking of going IC
Some communities/counties have occupational privilege tax, 911 tax. Some sales require you to collect a sales tax on your service. The best advice is to check with a tax preparer AND visit your state's revenue website to make sure you're not missing anything.
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and, you're an IC, so you make a little more because of your taxes.
nm
If they're withholding taxes, you're not an IC.
As an IC, you should already be paying taxes. That said, the only benefit having them withhold FICA is that your Social Security/Medicare share will be less. Social Security is 15%; if you're an employee, you pay 7.5% and your employer pays 7.5%. As an IC, you pay 15%. Doing the math, 0.0925 would be your 0.10 minus 7.5%--the 0.0924 is just a tad less than you're making now.
Sorry...they aren't make me pay for it.
They just put that it is valued at $500...they have it spelled with two Bs too...looks funny. :-)
Thanks everyone...makes more sense now.
If you aren't willing to make any effort
to get the information you need ("no patience", indeed), then why should anyone take time from their own lives to do your research for you? You're the one who wants the answer. Do your own work.
You're really swift, aren't you?
x
And make sure the pants aren't 5 sizes too big! sm
I've seen so many teenaged boys go for interviews wearing khaki pants.....but khaki pants made for Fat Albert. Drives me nuts.
right, make a little more per line, but also pay more taxes.
nm
You're pretty full of yourself aren't you?
your problems, your point of view, your way, your outlook, your, your, your.
frankly unless you know exactly what everyone is up against personally, financially, physically, emotionally, your "advice" is exactly worth what we paid for it. ZERO. Now don't waste your typing skills trying to talk down to us again. No one is buying into it.
Well those things aren't "fudging" -- they're being more SM
efficient. I started out that way too. I never had a spell checker until 1990. I don't call it fudging at all.
I make about $5000/month before taxes (sm)
I suppose I could work more, but...eh. I only have to work 35 hours a week for full time. I keep saying "this week I'll do 40," but there's more to life than work (at least I hope so).
$24,000 in savings! Rock on! I hope to be there soon.
Not my place to make sure her taxes are paid
I can only take care of my end. Not in her head when April comes around so??
If you're so brilliant then, why aren't you in a better line of work?
1. Surgeon.
2. Attorney.
3. College professor.
oh, and yes, my brilliant one - what year exactly did you graduate with your Ph.D. from Harvard?
LMBO
You're using your puter to chit-chat here aren't you? Why can't you let him have some fun t
As an SE, all taxes are taken out, but I am wondering if that is reason enough to make a change? sm
Company "A" is my first job being an IC and I am not sure I can wrap my head around why any employer cannot take out taxes which is not the case with many companies which offer you IC status. They tell us how and when to work. This IC job I have right now is no different than any job I have ever had with a hospital, but I think it is a rip off having to pay self-employment taxes. BTW, Company A is in the same state in which I live, so wouldn't be difficult to take taxes out of my check.
and now it's OUR fault that the docs aren't more careful when they're dictating?
Hey, they're making 100 times what we do, so it's their responsibility to be aware of what they're saying, not ours.
You're very lucky and obviously aren't looking up addresses or having to relisten to slop over
s
you OVERPAID your taxes by almost $4K? Sounds like YOU're the one who needs a better accountant.
x
I wish you would not make a blanket statement about things you don't understand about taxes sm
When you are an employee and you are financially responsible for your office, the heat, the electricity, the space in your house, your deductions are nearly identical.
I'll give you this though: ICs frequently make a higher line rate than an employee, at least initially. So many employers are freezing cpl increases in favor of production incentives. My company did this and the incentives are excellent. I have gotten to where my line rate with the incentives is actually higher than any IC position I have ever held. I am going to do that many lines anyway and I am well ahead on all fronts.
Let me add to a good marriage, a cup of coffee while sitting on a deck overlooking a lake at 6 in
the morning - good English-speaking doctors who do a very long pulmonary consult who speaks so well that I have left absolutely no blanks and whose report gave me approximately 150 lines in just under a half an hour. Oooh, how I dream I could have a guy like this all day! 
You're really proud of the 'former bank manager' thing aren't you
Why do you use that name? Just curious.
You're incredibly fortunate. Many of us aren't even getting offered 8.5 cpl for years of exper
m
Those aren't SH functions. They're Word functions, or
s
You're going to have to make a change.
If you can try to work an hour or so earlier or later to get in some lines when her son is sleeping. I find that if my children/DH are awake I want to be with them, even if just watching TV, so I'm more productive when they are sleeping. If you think this new account situation is just a temporary thing and in a month or so you won't have to work so much then just have a talk with son and explain the situation and make an effort to spend some quality time with him. Starting with any new account is takes a while to get productive, but if this new account is too difficult, ask to try another account or change companies.
I gave way too much to my job and not enough to my family, even though I had to work, I wished I could do it all differently. My son has seen pictures and home videos of me hold him in my lap and reading to him and he can't believe I used to do that. I allowed my work to take priority. I can't go back and undue the past, but I've learned from my mistakes and working hard to correct things now.
So what is it that you do that you're so successful at, & how much do you make? (nm)
x
Maybe if you're fast and make 9 cpl
The way I figured it, to make $60k a year at 40 hours a week you have to type at least 300 lph and make 9 cpl. Not many 9 cpl offers these days and only experienced, long-term MTs can do 300 lph on a regular basis.
Bet they didn't put that in the ad.
A lot of us here still don't make $10 an hour. You're lucky. nm
,
That's IF you're lucky enough to be able to make 200 lph. Many accts are
s
well, of course you make more with your own accounts cuz you're not employee
nm
we're all humans here and we all make mistakes
nm
In our house, we're all allowed to make suggestions. sm
and a lot of the time we do the shopping together. We try to make sure that the majority of us like something before we decide on it for dinner. And we're always trying new things and have found many new favorites that way. However, if there's something we're planning on having that one of us doesn't like, I'll make a simple alternative to it (like maybe fish, etc.)
I certainly can't criticize the kids for not liking everything we like, or tell them to go without if they don't like it, because half of the time it's ME who doesn't like the planned dinner. For example, they all love steak and I can't stand red meat.
We try to include enough of a variety so that everyone's happy. If one person isn't crazy about the main dish, then more than likely they're going to eat more salad and veggies or maybe a sandwich with it. It all works out. :)
Ask for samples, make some templates, and Go! You're blessed to have this
s
You're welcome! Start dealing with some lawyers, and they make MQ look nice!
Make you request. The worse they can say is NO. I doubt they would say, NO and you're fired.
:+
Well, ya can't make $50k a year unless you're willing to give up your life and be chained to S
you PC 12+ hours a day. I can't recommend any particular school as I didn't go to one of the "online" schools. I learned in an actual classroom which I recommend over any of these online schools. Another thing I recommend is working in an office for at least six months, but more like a year, because there is a gigantic learning curve once you actually get a job. There are just things that schools can't or don't teach, things that can only be learned on the job from other MTs who have been doing it longer than you.
Don't get me wrong. It's great to be able to work from home. Personally, I don't think newbies should be allowed to work at home right out of the gait. There is some much they don't know. They need help. They need to be able to ask questions and one of the best things about working in the office as a newbie, is being able to ask the seasoned MT next to you to listen to something for you.
Having said all that, I think MT is slowly dying. It's become difficult to make a decent living in this profession. I'm one of the few lucky ones. I work at-home for a hospital. I get paid hourly, get incentive, and have all the benefits of being a FT employee. Oh, and they can't take my benefits away if I don't make my quota.
You can't support a family on 7 or 8 cpl or even 9 cpl when the dictation is the crap they won't send to India. I would suggest finding another profession. The trend in medical coding is that all coders will be working from home soon what with everyone going to the Electronic Medical Record. I would go into coding. You may end up working in the office for a while, but I don't see coding being outsourced to India any time soon.
Good Luck.
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.
You're likely to make more money on the lower rate because easier to understand and can probably
faster and need less time to look things up, etc. Just my 2 cents.
On 2nd thought, if you're NOT a good Italian style cook, make something you ARE good at. Leave th
s
As an IC when paying taxes, are SS and fed taxes sent SM
to the same place?
You're working to make money, not to spend money.
These people should be ashamed of themselves taking advantage of people this way!
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!
You spending 3K in gasoline to make 4K plus all that time on the road?That doesn't make sense Pat
How nice that the world revolves around what you make and no one else could possibly make more. sm
Marla in So. California pays 11 cpl for a 55 ccl, Oracle pays 9-1/2 cpl, MDI-MD 11 cpl, JLG 10 cpl for gross line, etc.
Of course, these are rates negotiated and paid to qualified MTs.
For Pete's sake, you're not terminating a pregnancy, you're just typing a report after the
It's already been done before you even hear about it, and NOTHING changes regardless of whether you or someone else types it. Sheesh.
It's not funny when you're on a board where language is one skill you're selling.
.
Hope you're gonna have a glass of wine while you're relaxing
in your spa goodies. Congrats!
When I see mistakes I repeatedly make, I make a quickcorrect for it (sm)
for example if I type we plant o instead of "plan to" I have a quick corrct so that if I type plant o, it replaces it with plan to, etc. It is hard - I was with the same company for 8 years. I do not work for anyone with an accuracy requirement though.
Well, you're all complaining that accounts are current and work is low, so, gee, maybe they're
focusing on WORK, as in CLIENT and transcribing, as maybe half of you should be focusing on!!
If you're experienced, try for 9cpl or higher, and you're lucky to get that! nm
s
Skip it. No one cares. Either you're good on the test or you're not.
x
You're probably right. Plus we're losing our percentage of good people by .... (sm)
allowing every loser from every 3rd world country on the planet to just stroll on into our country, some legally, most illegally, and take advantage of the social services all us hard working little gerbils pay for by having money taken out of our pay every month. But I don't think we're all lazy. Just the ones on permanent welfare driving around town in brand-new Cadillac Escalades. Saw one just today on the Bayshore Fwy. Brand-new black Escalade with expensive spinner wheels, with 5 or 6 Mexicans in it. Well, who knows - maybe they stole it and it was on its way to a chop-shop. Smart-and-hungry people aren't always hard-working and honest.
You're not going to find a word expander for free. You're going to have to pay
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