and, you're an IC, so you make a little more because of your taxes.
Posted By: to specify. NM on 2008-11-08
In Reply to: I am currently making - sm
nm
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Make sure there aren't other taxes that you're overlooking.
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.
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.
right, make a little more per line, but also pay more taxes.
nm
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??
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.
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.
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
g
You're forgetting all the stuff you can't buy when you're UNEMPLOYED!
Unemployed people have a hard time buying anything, including cheaply made offshore products. How many will have to end up depending on public assistance? That means more tax dollars being eaten up - besides the taxes NOT being collected from the overseas workers. In the long run, are you really enjoying a lower price?
If you're on the job, ask for samples to do it how they want it. If you're testing, separate o
s
You're not losing it, you're burned out on your main job.
I feel for you... I am having my own "version" ;-) of these kinds of struggles. Lots of recent changes at the admin level have made my job do a 180, going from a really great one to a really crappy one.
For me, it's a struggle to get through the day with a shred of motivation. I get distracted in the way you discuss as well.
I just try to make my environment as comfortable as possible and make the best of it while I decide what the best way is to deal with the burnout... I figure if I can't change my inner brain workings so that I still like this job, I need to find another one, or this feeling will possibly get worse!
I hope it works out for you. Wish I had some better advice for you, but this really does look like burnout and extreme job dissatisfaction to me. We all wear it differently. Try to be good to yourself while you figure out a solution.
Don't know what you're complaint you're making with this post. sm
You stated in your original post that you don't want to work weekends or odd shifts. What is your definition of an odd shift? Second shift? Third shift? Sounds like you want to work M-F on days. Sounds kind of rigid to me. 
Personally I like second shift, so everyone working days means more work for me!
When you make the copay, make them give you a sm
receipt for the amount you pay them. I know they don't like to do this because it takes time, but if you are really stern and insist on a receipt they have to give you one. Then, the next time you get billed for something you already paid, tell them to look for their copy of the receipt and let THEM do the work.
Yes, unfortunately you do have to make a pest of yourself to make it work, but.....
as the years went by that is why I stayed away from those type of companies. BTW, Noni is a fabulous product, I absolutely do not care for the "marketing techniques" they use. One of the facts of this type of industry is you cannot just recruit to make it, you have to retail. Ever since I "overhauled" my techniques and system...I never had to ask another person to some on board again. Well, nuf for now. Take care and have a blessed week!!
lol cut myself off. Anyway, I'll make close to what I used to make with MQ,
ddd
I do pay taxes --- MOST DEFINITELY PAY TAXES
I also keep track of all of the write offs!!
Do you also pay your own taxes?
that means it works out to about $13 an hour.
Taxes
Do you think when you are working for someone else that "they pay your taxes?" We all pay our own taxes except for the additional 7.5% of SS as an IC you pay. And I will bet that as an IC/MTSO I pay a lot less taxes than you do and I make more than you do. I cannot understand the mentality of people that say "you pay your own taxes." Your employer just "holds your money and pays your taxes." I am just responsible enough to put the money aside and pay mine but as a IC/MTSO with all my deductions I pay on 20 to 25% of my gross and I am able to put aside $700 to $1000 per month in my retirement which is totally deductable. Your statement is totally incorrect.
IC - taxes
I am never sure whether to classify myself as an IC or small MTSO as I have my own accounts. But where I see a lot of the problem is that the doctors are not making as much as they used to, due to insurance company reimbursement, etc. They are trying to save every penny that they can just like we do. I keep my line charges probably quite low according to many standards but I make a a very good living and I cannot see charging the doctors 15 to 18 cents per line when I make very decent money at 11 to 12 cpl -- gross lines. I also get GREAT tax breaks and though I have to pay the other half of the SS self employment, I still bring home more of a dollar than working for someone else. I have also found it hard to find anybody that will subcontract to me that is truly dedicated and will work hard. (I pay 8 to 9 cents per gross line and I deliver tapes and do all the printing, pick ups and deliveries) I know that kids get sick, there are football games, etc. but this is still a job and you gotta put it first sometimes. It is hard to find anyone that will work the TAT of 20 to 24 hours by the time I get the tapes to them. Then that leaves the burden on me. So I mostly stick to my accounts that bring me in $50 to $55 per year (and this gives me my benefits) and have turned down accounts because I don't want the hassle of the IC's to me and they could be going overseas right now. But I think that the insurance companies are behind this more than the docs. When your MRI is interpreted over in India -- do you get a break on the interpretation -- no but the insurance company gets a break on what they pay out so who pockets it????
My thoughts and I am sure I will get a lot of disgreements but that is okay we are all entitled to our thoughts. Oh yea for this amount of money I do work 28 to 32 to hours per week-- just quit an in house part-time job as they wanted me at least 24 hours now, started out at 10 to 12 but the docs found out that they could make more money paying me to transcribe their tapes than to type their own notes in the EMR's even with templates. So we will be around for a while. Oh yea if I would have kept on with both jobs would have easily made $65 K but working 50 hours a week was getting to be a bit much.
Patti
IC taxes
One suggestion that I have for all of you that are questioning IC taxes is to look at your past tax refunds when you were an employee and see what percentage was withheld and do about the same. Yes there is that extra 7.5 for SS but it is also a deduction and you can look to find 7.5% of your pay as a deduction whether it be in the form of your own retirement fund, etc. When I saw that I was paying so much to the IRS, I decided that if I could afford that I could start my own retirement fund and did it. I now contribute close to $1000 to it per month. So go online, get an old copy of Turbo Tax and run off the schedule C's and see what deductions can be taken for a small business and then see what you can do to save in taxes. Look at your old tax returns and if you are married have your husband over withold if you can't do it yourself. You are not paying that much more when you work for yourself you are just in charge of paying them yourself and not allowing someone else to hold it out from your check. But look at old returns, plan, plan and plan. When you look at your net vs your gross that will tell you what percentage your employer is holding out. Either as an employee or an IC we all pay our "OWN" taxes but as an employee someone just does it for you. Good luck to all of you. Patti
TAXES~~
You get to deduct sooooo much, part of your housing, utilities, any supplies such as printer paper. Last year I made about 40,000 and once the deductions were complete, it was right at about 8000 (have kids to deduct of course so that helped)
taxes
I live in Alabama and have always been employed in Georgia. Other than the time I was an IC, we always filed both Alabama and Georgia tax, whether I did the work at home or not. My husband works in Alabama. The amount of the tax always pretty much balanced out. In fact, I usually got a refund from both states, just more for one than the other. As an IC, I only file an Alabama return, as that is where my "home business" is located, no matter where my "clients" are.
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