SE as in statutory employee at MQ nm
Posted By: Not who, what on 2005-07-26
In Reply to: Might be obvious but who is SE? - Michigan MT
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Statutory employee s/m
was statutory for years until MQ made us all go to regular employee status. The one thing I loved about this job was freedom and they really took that away when they set us up as regular employees.
I just took another job as a statutory employee and am working out my notice with MQ. Love, love, love it. Statutory is the best of both worlds for me since I don't need bennies. The PTO was nice, but the freedom is worth so much more.
means statutory employee...
The link someone gave above has a section on statutory employee (SE) but are still independent contractors
Doh! I thought SE was statutory employee. Sorry! NM
x
Statutory versus employee
Are there any advantages to being statutory versus an employee? Anyone out there working statutory who can help? Thanks!
What are the benefits of working as a statutory employee?
x
Statutory Employee vs. Independent contractor
I work for company "A" as an IC. I work on Dictaphone ichart platform. I make 9 cents a line. Good accounts. Good managers. I have been offered a job as a statutory employee with company B, still on dictaphone, still 9 cents a line. Is justifiable to make a lateral move to company B just for the sake of being an employee? Tell me pros and cons please! Thank you!
too many variants. are you employee or statutory? what office? what reports?
not my office. you have to work so many weekend hours per pay period but you can choose the hours.
You an IC, statutory employee or employee?
That designation, and/or forcing the IRS to designate you, can make a diff. Are you a corporation? Partnership? You need WAY more help than we can give you.
Question about SS - I am statutory employee and my employer withholds 7.5% for Social Securty - sm
I have only been a statutory employee for a couple of months (I was an employee with benefits with my prior company). My employer withholds 7.5% or "half" of the Social Security/Medicare 15% and I was told that will need to pay the other 7.5%. How does that work? Thanks in advance!
Can a statutory employee draw unemployment if terminated from job due to restructuring of company?
nm
Excuse me but federal taxes are paid as employee by employee
The ONLY difference in IC is you pay the ENTIRE amount of the SS which is the 15.25%, as an employee you only pay 7.75%. And you can easily make up that difference in deductions. As an employee you just have someone else manage your withholdings and as an IC you do it yourself. I have much more usable income being an IC and not an employee and I am strict about putting aside what I need to. But everyone always says you have to pay your own taxes, well your employer does not PAY them for you -- except 7.75% of SS, they merely withhold it for you. As an IC you are the employer.
statutory
I know this has been asked before, but could someone please tell me the difference between statutory employee and just employee? TIA
statutory vs IC SM
Thanks for clearing that up, all this time I'm statutory and thought I was IC. So does that mean I could apply for partial unemployment??
statutory vs. IC sm
So if companies cannot dictate schedules to an IC, what about statutory employees? I haven't discussed any of this with my company in 5-7 years!! Now they suddenly need an update, wherein they want to demand a set schedule....
Statutory employees too?
Is the new pay plan for statutory/IC employees too? Cant you only switch to full time employee status twice a year, I think May and October or November.
statutory employees - MQ
When you have to take off, do you call in sick like you would a regular job? In the past, I have and they have been quite unreasonable if I needed to take a day off for sick or personal reasons. What upsets me is when there is no work, Im stuck, no work, oh well, but when I need to take off, I better be there, I better work or they have been quite nasty with me..What has been others response? What have others done when they needed to take off? Thanks for your response!
time off statutory
As they are quick to point out, as statutory you are NOT an employee and do not have empolyee benefits; they can't have it both ways, if you are IC and want to take off they really don't have a right to say anything; offices differ, but that's the bottom line.
Statutory status
When I worked statutory, they took out Federal, SS, and Medicare.
Any statutory employees out there?
I'll be starting a new job soon with a service as a statutory employee. I want to get on top of my tax situation now so that come April I won't get hit with a big bill from the tax man.
Any suggestions/guidelines for how much of each of my checks I should be setting aside for taxes? I know that my employer will be paying 1/2 of my Social Security taxes. What about the rest?
Thanks in advance for your help.
statutory status
I sent you an email.
Statutory, I guess
PT, no benefits, no paid vacation/holidays, etc. The only thing they do is withhold my state/fed taxes. I work hours and days specified by them.
Statutory status question....sm
if you are statutory status they take out federal, but not state taxes, is that correct? What about SS? Thinking of taking a job on statutory status. Thanks.
Statutory MT/Independent contractor
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.
question for statutory workers
What percentage would you recommend setting aside from each check to cover your taxes? thanks.
Does MQ have STATUTORY EMPLOYEEs anymore under new plan????
It does not mention statutory anything in my letter dated 9/2/05.
I see "newly defined FT employee classification w/flexible...
I see New Part-Time employee classification w/flexible ...
I see Opportunity for PTO for part-time employees and increased PTO of up to ....
but I don't see nuttin about STATUTORY EMPLOYEES.......Statutory is not part-time
I only work part time statutory and
full time with another company, I have a little bit extra withheld from my FT job each paycheck. I try to save 30% of my SE job pay to have on hand when tax time comes, even though I don't need that much, it covers me for everything plus after tax time I still have money in savings. It does depend a lot on your life though, what deductions you have, what tax bracket, etc. I am single with no kids, so I wind up in a higher tax bracket, therefore feel comfortable only when I save more.
Question for you Statutory Employees about retirement?
Any of you who work as an SE, have you ever looked in to an SEP IRA or an individual 401K for funding a retirement plan? I was just wondering if this is allowed, since the income is considered self employment income, but I have searched on the Internet and can't find anything to tell how the laws specifically apply to SE's. I know if I was an IC there would be no question. I already have a Roth IRA but the limit for that or a regular IRA is $4000 a year and that is not enough IMO for retirement, would love to be able to save some of my SE income tax-deferred. I'm going to ask my accountant about it but figured out of courtesy I would wait til after the tax filing season winds down. Just curious if any of you could help out in the meantime?? TIA.
Did you get the email this morning about the new pay plan for statutory employees. What is your
feeling. I know I cant struggle any longer or harder for money anymore. I agree. I am in all these different accounts to make lines, being QA'd on all of them and I just cant do anymore than what I am doing now so I am not sure what step to take next. I guess just wait and see what happens with the new pay plan. I hope that is not why they are hiring so many people because of concerns of a lot of people leaving because of it. Have you heard of more accounts being lost. I wonder where all these accounts are going.
What companies other than MQ hire statutory employees and are they hiring now.
:
Did everyone get that email from Frank L. about the new pay plan coming out for statutory employees
this morning. Does anyone have any idea what this is going to be. I hope I dont lose money after all the years with MQ but we shall see.
On this new MQ rewards plan what exactly is it offering statutory employees and I suppose that that
is going to be the end of our quarterly bonus. My concern still is if there is no work how do you get any incentive if they lower the base rate. Sounds like employees will have a larger window to get their work done which means we all will be scrambling around for work at all hours.
If you are employee, unless suit against your employee
otherwise the posts on here as far as I can see telling it like it is. I think a lot of the posts are so young they just don’t have a clue as to what it means to be an employee. You do as your employee wants (I am talking reason now, not stupidity as far as sexual advances, etc) or else you find another company that fits your personality better. You do not confront, you do not tell your employee no, that is their job, not yours. This is such a simple thing for people who have been in the work force for any period of time.
full time, part time, statutory
newly defined full time...
newly defined part time....(which is an added classification)
I believe statutory just was not mentioned because there is nothing new about the definition of statutory.
full time/part time/statutory
The definition of full time is new.
There is a new classification called part time.
I believe statutory was not mentioned merely because that has not changed and they do not receive PTO/benefits.
IC or Employee?
I read an article on the web regarding how companies are abusing the independent contractor status to keep from paying benefits, WC, social security, etc. In my situation, I have been with the same company for three years and I do not get shift differential, weekend differential, or overtime. I work 7 days a week, totally directed by the company, hours set by the company, etc. If I had been an employee, which I believe I have been all along, I would be owed thousands of dollars in overtime. Where do YOU fall? Below is the IRS quick look at where you stand.
http://www.ftmn.com/Employee.html
An employee
I cant say who but it is an employee.
You are an employee. I am not. Again, you are an employee because SM
you need "employee stuff" but I am not an employee because I don't need employee stuff. I just need work.
Why do *I* have to adhere to a schedule? I don't. And my MTSO loves me to death because I just make her look good.
You need to go to an all-employee company or a company where you are the boss so you can stop this from happening. The MTSO just wants the work out of there. You want it to all be suspended until you sit down to work, and that is just not going to happen, nor should it.
No, FT employee
Looking for another job this very minute. I think this is way over the line.
As an employee ---
If I actually work 40 hours a week, my gross is about $730, which I think is good when I also have all taxes cut (Federal match), PTO, STD, LTD, healthy, dental, vision, internet reimbursement, quarterly and yearly incentives in addition to base pay. Never run out of work. Benefits add about 30% more to base pay, so it seems to be a wash with the ICs who have commented.
I left a job recently where I worked 5 hours a day and grossed $750/week with all taxes cut, 2 paid weeks vacation a year, free health insurance. I left because they were getting interns to work for free and forcing out their higher paid and longer term employees. Had to use vacation pay when there was not work or not get paid at all.
I like the pay/hours at the former job but I like the current stability that I have now better.
Employee
This is the exact reason our company will never use an IC. We utilize employee status transcriptionists
This is what I do. I am an employee
but my company is in FL where they don't have state tax. I don't need any $$ taken out for federal, but I have extra $$ taken from DH check for state taxes. 2005 was the first full year we did it and this year we are getting back $450 state, when we've paid in the past, plus a penalty for not having enough taxes taken out. You could also change dependents if appropriate.
IC vs employee
Can someone explain to me the difference between 8 cpl as an employee and 8 cpl as an IC? I know you have to pay your own taxes as an IC but what I mean is what does 8 cpl translate into once you pay self-employment tax. How much less are you making as an IC at 8cpl than if you were an employee at 8 cpl is what I am trying to ask. Thanks.
IC vs employee
If you are an employee, the employer pays half of the Social Security tax. If you are an IC, you have to pay the full amount yourself. HOWEVER, you can then take a deduction on your taxes for that second half. I haven't figured my taxes yet, so I don't know if it is a deduction or a tax credit (which is better), but at least it does help so you don't end up paying the entire amount. As an employee you also don't have all the deductions that ICs get, so that makes a difference in the bottom line, too.
Are you IC or employee?
If you are an IC, you can take off whenever you want (with appropriate notice of course). If you are employee, do you have vacation/PTO time? Do they not let you use it when you want?
Are you an IC or employee? - nm
nm
Employee (sm)
I work for MedQuist.
anyone go from IC to employee and like it better?
I was offered a job and I'm now weighing the options. I have always been an IC and have been offered employee status with another company. The pay is 1/2 cent cheaper than what I make now as an IC. The hours are still flexible and they do offer good benefits, PTO, vacation, etc... Has anyone gone from IC to employee or tried both and would like to comment? Thanks!
IC or employee
In my 22 year MT career I've found that doing a bit of both works best for me. Since I'm a single parent I really need the insurance benefits, and with regards to taxes, my accountant told me it's best to keep your W2 job because the taxes you pay there helps to pay your self-employment taxes. I do 20 hours W2 and the other half IC.
ms
IC to employee...sm please
I would like to hear from any of you that have gone from an IC to an employee, on howyou handled the changes. I am thinking about giving up my IC position (which is my own account with a hospital) to look for a full time position with a national company. As an employee, do you really have to sit in front of the computer 8 to 12 hours for your shift? What happens if there is nothing to transcribe? Do you have to stay put and wait?
I have only transcribed as a hospital employee (paid by the hour) and then came home for the same hospital as an IC (paid by the minute of dictation) when my youngest had health problems. I have always had enough work with occasional slow weeks at the same time every year. I have done some IC work with a few smaller MTSO. The hospital is going through a lot of changes and I do not feel that my position is stable. I was offered a position with a national a little over a year ago but raised my rates at the hospital instead. (Although after I raised my rates, they looked into using a service and found I was way cheaper to use). But I have recently figured my line counts with this hospital (Never bothered before because I got paid per minute) and figured I only got paid between 8-9 cpl with the same rate on weekends and nights. I was offered that plus benefits with other companies.
Should I try to find a good company and adjust to the changes in my schedule? (sorry so long)
Not An Employee
I'm confused too. I also worked for just one company as an IC before becoming an employee. If I wasn't an IC, I certainly wasn't an employee at the time. I had no benefits, taxes weren't taken out, etc.
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