Statutory Employee vs. Independent contractor
Posted By: IC or SE on 2008-10-21
In Reply to:
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!
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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.
If you are an independent contractor, you are not an employee so the
rule of thumb is that pay should be made to the employee within 30 days from the date of resignation. If, however, you signed a contract that says specifically that half of you pay can be held until say equipment is returned, etc., then you may have to abide by that. The company may just want to make sure they get their equipment back.
Employee vs Independent Contractor
Click here:
Yes, but are you employee or independent contractor?
There's a difference. When I had a job as an IC, I had to pay all my own equipment, software, references, phone, internet, utilities, self-employment taxes at 15.9%, etc. No insurance, no retirement unless I paid for private plans. No holiday pay. In fact, no days off at all!
I'm glad you're happy. I'd be happy to have a job paying $11.50 an hour, but I can't even get an interview! There are 800 people competing for one job if you check out the job board ads.
My spouse and I together are down to maybe $1,000 a month now in income when we used to gross $5,600 a month. Time for welfare, I guess. Can't get unemployment being a contractor. Cripes, Walgreens won't even hire me.
Employee + set hours. Independent contractor
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.
Independent contractor here (sm)
How about you?
Independent Contractor
This is the form that all ICs have to use for their taxes and I can't find the answer anywhere. .Thanks.
IC = independent contractor
I think you meant employee not IC as a subcontractor and IC are the same.
Independent Contractor
In the contract I was considered an Independent Contractor, so labor laws, etc. do not apply to me. According to the PA Labor and Industry Board my only option is to take them to small claims court in PA, and I live in CA, so that would be difficult and costly at best... I just mean there are restrictions that apply to me because of my Independent contractor status...
Independent contractor
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????
Independent contractor
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.
independent contractor
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.
So, if you hire an independent contractor to sm
paint your house, do you do a criminal background check on that person. It's the same thing. Independent contractors are just that.
IC meaning independent contractor?
As far as I know...no...for independent contractor, they do not have to pay any benefits or even take out SS, so I would think it would be MORE not less for IC. Someone correct me if I am wrong.
Independent contractor status
Don't forget, though, as an independent contractor, you will be paying 100% of your social security tax, which accounts for somewhere around 15% of your gross income. You have to factor that into the equation. Working employee or statutory status makes it mandatory for the employer to pay half of your social security tax; being independent makes you 100% responsible. Also, you are responsible for sending in quarterly tax statements/payments, whereas as an employee, your company owner does that for you. I would want to factor all these things in and allow enough to take care of the social security at least.
This is confusing. An independent contractor IS
nm
As an Independent Contractor, you set your own rate.
then you are not truly an independent contractor. How she bills a client has nothing to do with how you bill her.
You are not an independent contractor, if you only have one client.
x
starting as independent contractor/need 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.
independent contractor lunches
can i deduct lunches as a business expense?
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 kinda sorta....nm
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Independent Contractor/Taxes Question
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!
OK. I will. Get your own accounts & truly be an independent contractor. Set your own rates. nm
nm
How to find legitimate work as an independent contractor?
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...
SE as in statutory employee at MQ nm
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.
Contractor vs Employee
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--
First, were you an employee or contractor?
This will make a difference. If you were not an employee, you did not earn wages so it would not be reported.
Second, if you feel that is in error, contact your local Employment Security Division and explain that situation. If you have paycheck stubs for that time period, take them with you.
Let us know how it turns out!
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
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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?
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Are you venting as a patient or as an employee/contractor? -nm
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.
What actions can I/should I take when contractor will not pay?
I did some IC'ing for a company, and they have not sent my $ yet for the last 2 invoices. They say they are going to send it around the end of the week, but just in case, I want to know what steps I should take because I WILL get my $ one way or the other. They are located in Houston, Texas. Does anyone know about the court system there and what are your opinions on what the next step should be for me before I sue them--which I do plan on doing if I do not receive my $ by early next week. I do not want to waste a lot of time waiting. Any opinions would be greatly appreciated.
Boyfriend is a contractor
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