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. 

• IC or employee - tm
  • Statutory employee s/m - mtroadie
  • Employee (sm) - AgingMT
    • An employee - LinK
    • My independance and deductions, making my tax load LESS, - offsets any "disadvantages." nm
      • I have friends who feel the same way - AgingMT

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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!

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.

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 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

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.

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

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.

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.

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

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)