Social Security will take it from your Schedule C
Posted By: Patti on 2007-05-08
In Reply to: How to claim Social Security for part time - Terry
Social Security will take your earnings from your Schedule C that goes onto your 1040. Whatever amount you declare and pay your self employment taxes on (15.75%) is the amount that they will use for your yearly earnings.
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As an IC MT do you pay into Social Security? SM
I am an IC MT in California. Does anyone know if we can pay into SS so that we get compensated for retirement? As of yet, I have not but would like to in the future, if it is possible.
TIA
Social Security
If I understand it right, assuming you are paying your federal taxes, you are paying Social Security. It's something like 15.3% of your reported income, half of which you get to deduct if your income is under $102,000. Gee, think I just barely fall under that tax bracket! Google "self-employed social security" or something along those lines for a full explanation.
They are. Many of them get social security checks for
mental illness or other issues. Some of them spend their social security checks the day they get them on booze and gambling. Some people CHOOSE to be homeless, if you can believe that. There are programs out there for them if they apply. I got to know the homeless population of our city pretty well at one of my former job. I could tell you some stories about some of those characters. One guy is homeless, but he could have his house and bank account, his military retirement, and his social security. Instead, he pushes a cart around town and sleeps on park benches. One woman runs down the street in nothing but polyester pants pulled up to her armpits in the bitter cold of winter. She has shoes and a coat, plus welfare and social security benefits.
the self-employment tax IS the 1/2 of your social security...
"On top of the self-employment tax, etc., you don't get the benefit of your company paying 1/2 of your social security so that is where most of your money at tax time goes to. " please don't post if you don't know what you're talking about.
How to get in touch with social security?
Went by the office this morning, unbelievable, just wanted to set up an appt but too many waiting. I tried to find the web site but had no luck therel. I have heard you can set up an appt that way, just need to know where to look. TIA.
Can somewhat please guide me as to how to pay Social Security, SM
federal and state taxes as an IC? I am new to this and dont know the first thing about it. How do I get vouchers for the taxes and how do I pay the SS...thank you!
Do you pay quarterly taxes? Can you pay Social Security (sm)
I have always just filed at the end of the year. Does everyone else (IC) file quarterly?
Also, if I want to pay into my social secirty on my own, can anyone tell me how to do that?
Thanks!!
Paying Social Security is not optional.
social security card needed for job?
I am looking for a second job for some extra money and just was called back about one, he said to bring my license and social security number and i said okay bye. cause i was so excited, but then I thought, wait a minute, what? I don't have my social security card with me... First is this true, second how do i get one?
That only covers the income tax, not the social security tax.
You will have to pay the social security tax on your IC pay.
That's interesting since you have to have a social security number to pay taxes
you're full of it
That should be 15% social security of your gross quarterly earnings also. n,
:
How to claim Social Security for part time
Hello. I have a few small part time transcription accounts and want to know how I can claim them so I can accumulate time for Social Security benefits. I'm an independent contractor using 1099.
Thanks,
Terry
Social security is part of Federal taxes
Your SS is figured in on your schedule C -- after your deductions you pay on your net income and that is added to your federal taxes and you send in one check and pay it all. You can do quarterly if you do not have a husband to over withold from or if you are not an employee on another job. Social Security and Federal taxes are not two entities -- but one.
Patti
Reading from my social security paper I have in front of me....
In the year you reach full retirement age, $1 in benefits will be deducted for each $3 you earn above the annual limit ($34,440 in 2007) until the month you reach full retirement. AFTER THAT, YOUR BENEFITS WILL NOT BE REDUCED, NO MATTER HOW MUCH YOU EARN. This is directly from their posting.
See my posting at top, got directly from my social security paperwork
NM
Good point - Income Tax and Social Security
It would be nice to see someone do a study on this. Not only the income tax dollars there are not going to our federal government, your states, but also what it would do for our social security program. I am sure we would be shocked at this impact. No one seems to want to talk about it. They say that offshoring is good for our economy because it makes businesses more profitable - but at what cost to all of the American people regarding jobs and tax funded programs? I don't get it.
DID you check with Social Security& does your son receive a check???
Go to SSA.gov and research the payee options. You may have to use the search engine, but your answer to this particular issue should be there.
I am disabled and while my kids were minors, I had to fill out a form each year on how I, as the payee spent each and every penny of the money they received. I don't see how his mother can justify how she spent his money for things that you normally would pay.
That said, he is getting Social Security right? Is your son receiving a dependent check? Under law, if a parent is disabled and has minor children, each and every one of those children also receive a check until they turn 18 or graduate from high school, which ever comes first.
The check is a percentage of your husbands, so for 800.00, your son should receive at least 350.00. If you have not been getting this, they would pro-rate it back to when your husbands disability started and that in itself, could solve a lot of your financial problems. You can also find this out on their website, HTH
File taxes under the name on file w Social Security....
Name on W2 doesn't have to match, but your tax return has to match SS records. They don't want your marriage license or anything else. Did that for 13 years as instructed by IRS. Didn't have to change it with SS until state changed rules requiring drivers license to match SS records. Still use my maiden name in some limited circumstances.
social anxiety
Maybe we're loners.
http://groups.yahoo.com/group/partyofone/
Social anxiety, yes!!
So good to know I am not alone. Just last night I was at karate class watching my kids and watching all the other moms interact. This is how it always is for me. Watching everyone else chat and laugh and have a good time. I am very uncomfortable in social situations, and it seems like everyone else is not at all uncomfortable. Feels like I am the only one in the world with this. I don't really want to rely on a med, but I don't know how to get past this. All my neighbors are very close knit, I am the only one who never interacts or joins in on the get-togethers. They must think I'm stuck up. The truth is, I would rather take a beating than go to a block party! Any ideas on how to get past this?
social recluse
Why would anyone become an MT if they needed a lot of socializing? One of the main reasons I became an MT is lack of need for interaction with others.
I was a social recluse before this job.
...which I guess is why I have adapted so well to it. I could never handle gossip or having to walk around pretending to be a happy "team member" in an office setting. I watch "The Office" as a reminder as to how pukey that whole workin' in an office situation really is...but it is extremely funny when you aren't a part of that atmosphere anymore though. I once worked with a female version of Dwight and it was so not funny. Dwight=funny.
Social graces?
Been there done that. I have a Jewish doctor who mumbles and has a very strong New York accent - - and he has no social graces whatsoever - - burps, sneezes, coughs, sucks snot, eats with his mouth full -- YUK!!! The worst part is you have to listen again because you couldn't understand what he said the first or second time.
I need the social interaction too -
I have been applying for jobs in town everywhere, not necessarily in the medical field, but I am also spoiled - I get to thinking about it and wonder whether I really want to work 20 hours a week for 6 dollars when I could make that in 3 hours at home...
So, I decided I was going to go back to college part time and get a degree in something that would pay me what I make in transcription and give me the option of getting out of my house and meeting people and becoming human again.
I loved my job for a long time, but lately it is taking a toll on my health and emotional welfare. I have a degenerative joint problem in which the doctor told me I would be better off as the door greeter at Walmart than sitting in this darn chair all the time... I am becoming withdrawn from the world, I have gained lots of weight, and just feel down and depressed all the time.
It's time for me to "get a life" before I get too old and have these same problems with age discrimination.
I don't have much of a social life myself, but working on it
But being in my mid 30s I don't know if i'm going to click with anyone. I just know I cannot do the online dating anymore! Its so disppointing meeting the person after they've built themselves up AND have used the best picture ever taken of them in their entire lives on their profile. Some people swear theyve had good luck, its about 50/50. Its just not for me, very awkward and weird. Thats why a reality TV show on it will be fabulous! I'm just hoping its on tonight, supposedly ABC or something.
There is a balance though, people who are too social
People who tend to spend a lot of time alone seem to be a little sad. Just mix it up a little and find your balance. For me, if i'm around people too much, I feel absolutely drained, but if i'm totally isolated, I feel trapped and sad. So I socialize a couple times a week by taking classes, seeing family members, talking to neighbors, meeting up with a friend, and thats enough. Just not everyday, maybe not even every two days!
As far as the social situation is concerned, get
him in cub scouts, community sports, etc. This is really not an educational issue IMO and not the responsibility of the school system.
The school system in most cases will try to do as little as possible for your child, but if you have a diagnosis, you can write an IEP and they have a legal obligation to follow it, whether they like it or not. They also have to provide testing, like it or not, but we always had ours done on our own as I didn't feel like I would get an honest evaluation from the school system.
Anyone have social anxiety disorder?
nm
My kids are far from being a social recluse...
I have some of the most social kids in the neighborhood. Every day they are playing with other kids, and they are in karate as well. My daughter has Tourette's syndrome and she said people at school were making fun of her tics. I choose to protect her from those kids, but she is not at all socially isolated, only isolated from the kids who ridicule her...
If you are a social recluse, it won't make
you come out of your shell, but if your life has good balance, it should not hamper your social abilities at all. I definitely am a people person and have worked at home since early 90s.
yeh, we have to have a tight grip on our social graces
We'll start walking around wanting to backhand everyone who looks at us sideways. 
My DD is a social worker and says that she dictates directly into VR
and the report is on her desk when she gets back to the office. She said everyone in her department loves it!
Kate's obviously been out of social circulation too long
and passes her solitary days by picking fights on message boards.
Time to find a job outside the home, Kate.
Aren't politics and religion social no-nos? sm
And I believe there is a very good reason for that.
For IC MTs, when you pay your quarterly taxes that you calculate do you also add in the 15% social s
First time doing this.
Do you find that this job makes you a social recluse?
I never get out socially with anyone. It's just my husband and three kids. People used to call, but since I both work full time transcription and home school, I never had time to do anything and people just quit calling. Yesterday evening a neighbor had a party and invited women from the neighborhood, but not me. That hurt my feelings, and made me see just how isolated I am from the world. I am also pretty shy by nature, but being home all day and never getting out doesn't help. Do any of you feel isolated with this job? Does it bother you??
Amen!some of these people have been out of social circulation way too long
LOL
I've developed a bit of social phobia, now I avoid
 I listen to social anxiety tapes, Dr. Richards, because i'm finding I want to be around people now, just have forgotten how. When i'm in a conversation, even with people i've known forever, where attention is focused on me I feel this fight or flight feeling, get nervous and turn red, just uncomfortable with socializing. Getting better though.
Has she applied through Social Services or is she talking to the landlord on her own? nm
s
My daughter teaches social studies and science.
She works the after-school program at her school for extra money, and an occasional Saturday school (also extra money). She has also signed up to teach summer school, and may do some private tutoring as well.
Just some ideas for you.
I have been doing MT for about 4 years now, and average about $10 an hour at 7 cents per line (no raise since I started). There is a tremendous learning curve, I did not feel productive and competent at all for the first couple of years. I got my certificate from the local community college. They offered night classes for the beginner course, then an on-line advanced course. I should point out that a certificate from any school does not make you a CMT (certified medical transcriptionist). For that you have to pass the test given by AAMT, and as I recall you cannot test until you have 2 years of experience.
Good luck with whatever you decide.
I don't have a set schedule
My responsibilities are this:
1. Account A - make sure all of Monday's dictation is due back by Tuesday morning 6 a.m. (they're time). Same for the remainder of the week.
2. Accounts B and C - make sure all of the H&Ps dictated on Monday are transcribed and returned by Tuesday morning 6 a.m., they're time. Same for the remainder of the week.
3. Anything I transcribe Monday is due back 6 a.m. (they're time) they next business day. Ditto for the rest of the week.
This only changes when there's a stat reports.
As long as I meet "the deadline," I can work whenever I want. And I do.
my schedule
I am a hardworking MT who used to be in a managerial position. I am scheduled for 9-1/2 hours daily because I prefer to take breaks rather than work straight through 8 hours. Today, however, I only took a 1/2 hour break, and stopped working an hour earlier than my shift was to end. Now I'm wondering if that was the "wrong" thing to do. I have only been in this job for a few months, and wherever I have worked before, holiday schedules were always pretty "laid back." Now I'm wondering if I will be in big trouble tomorrow. If it makes any difference, my production was higher than usual today, I think because I was trying so hard to get done an hour early. What about this one?
Schedule C
Your schedule C should give you all the deductions that they have taken off of your business income. When you print out all the forms it is there. Have used it for almost 15 years now and (knock on wood) had a problem at all.
schedule
i work sun through thursday for 2 nationals
I have a set schedule, but...sm
I work 10 hours in a 12 hour window...5-5...working 10 hours in between. I believe this is what she was asking, correct? 
My New Schedule
I also know what you're going through...I had the same issues ALL summer last year. It sounds like my kids may be a little older than yours and are in school, so the last last 9 months have been wonderful, but now summer is back.
I spent a lot of time hashing over a schedule that would work out for me, my family and my account and came up with this: M-F 6-9 am and then 6-9 pm and a few hours early Saturday morning. I am able to vary this schedule a little bit so that also helps, but so far I LOVE my new schedule. It gets me up and going in the morning and I really don't miss sleeping in a little longer like I thought I would. It gives me the whole day free with the kids or for getting odd jobs done around the house, and and then I just work a few hours in the evening which gives my husband some summer time with the kids too. Then we have the weekends as a family.
I know everyone's needs/schedules are different, but I just thought I'd share this schedule in case it would work out for you. I really dreaded summer coming, but now I'm really enjoying it.
Also, don't stress over the house...it just gets messy again anyway. It's SO not worth worrying about. I used to keep a spotless house, but now I'm just expecting my kids to help out more (which is good for them) and I have to accept the job they do and be thankful.
Good luck.
Also, the MQ does not have IC, only PT and FT, so they do set schedule. (nm)
x
you do not need a tax ID # - just use the Schedule C - sm
and Sch. SE on your taxes. Write off as much as you can in your expenses, phone line, computer, paper, ink, chair, desk, electricity, etc. ---and no you do not need to incorporate; unless you become a big company I would not bother with that.
IC = no set schedule
The IRS will tell you the same thing. If you meet TAT there is no need for further restriction. If it was to log in to check for stats or something I might be okay with it and understand it but if this is not the case, you need to stand your ground because if you start being treated as an employee it is bad news for you and those you work for if the IRS decides to audit.
my schedule...
I said I worked 55 minutes and took a 5-minute break... I only work a 6 hour shift anyway. If I have to go to the bathroom, I go. I usually go when I get up to stretch my legs though if I have to.
Yes, I have a man in my life, and yes he interrupts me a lot, which is one of the reasons I don't get a lot done. No, I do not have kids at home, they are grown.
I don't know what the problem is? I only posted what happened to me when I decided to see how productive I actually could be.
I did not say this had to be done all day every day, I did not say there were not exceptions to the rule, I did not say that this was what MTs had to be forced to do.
One of the problems with MTs not being considered professionals anymore is because we want the job, but we do not want the responsibilities that come along with being a professional.
Do you know that when I used to work with children at home, the kids were always asking me why I could not play with them instead of playing on the computer all day. Well, you know what, I changed to 3rd shift so that they would not think I was playing by myself all the time instead of playing with them.
This is still a job. Some of us have to earn a living at it and not just do it for the extra income. You are running your business like you want to, I am running my business like I want to.
I don't consider anything about this a sweatshop. I want to make at least 2000 lines a day and I want to do it the fastest and easiest way I can - I do not want to spend all day in front of the computer. I want to be able to turn it off and be done with it at some point.
Now, sorry if I rambled, got off point, got off subject, but darn, I am kinda getting ill now with everybody jumping on me!
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