taxes -- see my 2 cents worth
Posted By: Patti on 2006-12-21
In Reply to: Taxes, SS, fed and state, how do I sm - new IC
To many variables -- are you married, what are your deductions, etc. See what was held out when you were an employee and match that amount. Your SS will be 7.5 more but some of your deductions can offset that. Buy a copy of Turbo Tax and do a planning sheet on what you have made this past month or expect to make. I pay very little but then I contribute a lot to my self employment pension. How long have you been an IC -- i f just starting won't have to worry for a while. But without knowing your entire financial picture it is hard to estimate whether it be 10 or 15 or 20%. I pay less than 10% but that is because I have many deductions. Look at last year taxes and see what you paid. If that is what you are estimating on making divide that into quarters or monthly. If married have hubbie over withhold. Again without more info we are just guessing. Patti
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My 2-cents worth....
In my opinion, any time you transcribe in only 1 specialty, you only have to focus on only ONE area. It might be boring but your productivity will increase. While working for a big national, you could have 100s of dictators. In a hospital setting and with only one speciality, the number of dictators is fewer and therefore you become more accustomed to their dications. You should be able to create "macros" "expansions" or whatever your system allows for repetitive dictations. Good luck.
Here is my two cents worth,
This is my opinion...you need to say, I am working between this time and that time and try with everything in you to stick to it. Finish at your appointed time and then spend some time with your family. Your husband needs to help you on his days off; that needs to be a part of the "deal."
Maybe you could make more money if you didn't have to worry about keeping your house clean... could you ask for a housekeeper once a week?
I have 5 kids and it was very hard to get myself organized for a long time...and to be honest, it is still not easy by any means. I find that my whole life runs better if I do stick to a schedule the best I can (stuff does come up though). I lay out their clothes the night before and think about what they will eat neatly and quickly for breakfast. I try to make the next day run as smoothly as possible.
Since yours go to a babysitter three days and are home when hubby is, he really needs to help with them during your set work hours, and then you could take time afterward to do something as a family or as a couple, or maybe he needs some alone time too. He needs to keep them out of your "space" so you can get finished, just as if you were working in an office outside the home.
When mama ain't happy, ain't nobody happy...so take some time to plan how you want your life to be on a daily basis. Strive for it. Everyday will not be like you plan, but you will feel more like you HAVE control when you TAKE control. You cannot do it all on your own and no one should expect you to. I have felt that very same way many times, but there is only one Tami and she can only do what she can do in a 24 hour period, nothing more. Just make the best of every day so you get to spend time with your family because that is what it is really all about anyway!
Just my two cents worth!
Have already sent my 2-cents worth
on the subject. Found this address for him: oreilly@foxnews.com
I stress heavily the security aspects of having all our personal info floating around Indiastanippines. Anyone who posted a comment under TravelinMT's newspaper article might want to send O'Reilly a variation of that. I'm all for pouring on the heat and letting everyone possible know about this. Sent Glenn Beck the scoop a couple of days ago: me@glennbeck.com.
Vive le revolucion!
My 2 cents worth
The other posts are spot on about AHDI selling us down a river, but most of the hospital jobs that allow you to work at home as an employee give preference to CMTs in the application process, so if you are looking for a position like that instead of working for a national you might want to consider getting it. It all depends on your employment goals. Good luck!
accounts - plus my 2 cents worth
I started doing part-time when working at a hospital as an Admin Sec/Assistant as docs were unable to find decent transcriptionists. Went to full-time as my hubbie was a trucker and gone a lot and started in 1989 full-time. At first did brochures/flyers to offices, subcontracted to local companies. Then they started coming word of mouth. I have not added an account for 5-6 years as have had enough but recently one of my favorites passed away and so will be adding another after Chrisitmas. Have thought about expanding more with more IC's but I really have trouble finding people that are dependable and realize that sometimes work comes first and it is my name out there. Since I am a small MTSO I can only pay 8.5 to 9 cents per gross line but all they do is type and I print, deliver and pick up. My oldest psych account has been with me since 1988 and my latest since 2000 so they stay with me. Pay on time, treat me pretty well and so can't complain too much. My last mailing, mailed out about 90 to 100 flyers and got 5 phone calls and 1 account but again that was 5 years ago.
Some of you have to realize the cost of running and maintaining a business. Though the doc gets $50 to $60 per office visit, more with labs, but think of their overhead in the office. Also lots of times they only get 60 to 70% of what they bill out. They not only have to pay me for the typing -- 35 to 40 lines, (3-4 dollars) but the receptionist, billing clerk, nurse and themselves. So the docs are not getting rich and I again say it is the insurance companies that put the squeeze on them and causing a lot of them to look for cheaper ways of doing things.
My two cents, for what they're worth.
Leasing never worked out for me simply because I put too many miles on a car at that time just going back and forth to work, etc. It did, however, work out wonderfully for a friend a mine who lived about 2 miles from work, took one car trip per year, etc. In fact, she came out great at the end of her lease and leased another one. She will probably buy this outright at the end of its lease.
Now that I'm no longer traveling for work, I would very seriously consider leasing were it not for one thing. I have now built up value in my car and it's simply not the best option for me.
Two ways to look at this thing.....good luck!
My 2 cents worth here (smile) ...
It's one thing to have a perspective as an MT, new or experienced, saying that the generalizations from MT Pundit are true or not (and I take his/her comments as generalizations, not true in every situation).
However, when you work with an abundance of both experienced and new MTs, it is very different. You really do see the trends being referred to in this thread.
For everyone who exclaims how adaptable they are but rant on and on, you probably are not as change-friendly as you think and it shows with your exasperated statements.
There are always exceptions to the rule but by and large what Pundit has said seems to be the overall trend in working with large groups of both experienced and new MTs.
I think offshoring has nothing to do with this. It is a separate issue altogether and will happen regardless.
I do think he/she has given excellent advice for those who want to hang onto this profession as long as possible.
It is much easier to go to the eager new MT minds and give instruction or feedback than to go through the arguments and backlash usually resulting from the same situation involving an experienced MT.
Glad I'm out of it!
"Just had to give my 10 cents worth"
Here's a dollar.
I'm paying you in advance for the next nine accurate statements you make. 
I signed it, and added my 2 cents' worth, as well!
Maybe we should print copies of this letter, stand outside hospitals and clinics, and hand copies of it to patients as they're leaving. Or else put it on their windshields in the parking lot.
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.
12 cents. I'd love to make 12 cents. sm
a line as an employee. 17 years acute care experiencing doing all work types and I only make 9 cpl plus incentives.
8 cents versus 9 cents
Wait a minute....9/55 is to 8/65....would not 9/55 be significantly higher pay than 8/64 (spaces are not counted in either case)?
As an IC when paying taxes, are SS and fed taxes sent SM
to the same place?
8 cents a line. Should be 10 cents for over 10 yrs exp but
b
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!
A job worth doing is worth doing well ...
If you do not want to do your best, get another job.
But that is what I would do - worth the $.30
nm
what are your worth?
To do business at this rate, the hospital would have to be contracting the jobs themselve. Most hospitals I am aware of, go through a service, which has overhead. So to that 7 cents you have to add pay for management, building, utilites and all the other costs of doing business. The services I work for charge anywhere from 11 to 13 cpl, so it really isn't any cheaper to go through a service or have your own accts from the hospital point of view.
And is it worth the $189?
It sounds quite interesting, but that's a lot of money to shell out for an expander. Do you find your production is a lot higher compared with regular word expanders?
For what it's worth...SM
I did say that in my opinion, drinking on the job, regardless of amount, was unprofessional and somewhat irresponsible. (I stated MY opinion of the SITUATION, not directed at anyone in particular.) I think most employers would agree with me on that one. You obviously do not. This topic has been discussed and removed several times now - if you don't like the "unpleasant" posts, why keep bringing it up? Do you need the validation from complete strangers?
Don't post the topic if you're not prepared to deal with multiple viewpoints. Simple as that.
Worth it?
YES! An ergonomic keyboard does take a couple of days to get used to, but I doubled my typing speed after those couple of days and do not get "tired" hands as quickly. I would strongly recommend getting one!:)
Yes, it is worth it! sm
We have VPI (Veterinary Pet Insurance--should be on the web) and it's great. You can pay monthly or all at once. It doesn't help much with the little bumps and bruises, but our boxer had a major ACL repair done and it saved us tons of money. She's worth it!
for what its worth
your marital relationship is the most important relationship in your life- its who you chose - you din't choose your parents, siblings or kids- everyone deserves to be valued and respected in that most important relationship- if you are being repeatedly hurt by your spouse or you are hurting your spouse -after you are aware that behavior is causing pain, no matter what it is - then you are not valuing your relationship or being valued in that relationship... Either way, you need to do something about it- get counselling at the least
Not worth it!
In my opinion, it would be better to wait for something that pays a little more. At 6 cpl you are going to work your butt off. I mean, if you think about it that's what the people in India are getting paid, either 5.5 cpl or 6 cpl. I think American MTs are worth more, much more, but that's just my opinion. If your current job is not too, too bad where you can't wait it out, I would say look around and give it a little more time. Gook luck!!
Is being an MT really worth it?
I've been doing it for about 10.5 years and have interacted with a number of fellow MTs. One thing I notice is that very few of the wonderful MTs I've known have been WITHOUT depression, anxiety, and/or panic disorders.
Is it possible that sitting in front of a CRT doing the same thing all day every day in complete physical isolation isn't healthy?
There are lots of reasons I want out of this business. There's one. Have a good day :)
worth it
You are right about being isolated. Right now I have my 3-year-old at home with me, but in a couple of years, it is going to be me and the cat until the kids come home. I'm not really worried about it though. I know a few moms and other MTs can call if I get lonely.
As for the depression and axiety, I had before coming into this profession. You just have to take every day as it comes and enjoy the sunshine when its there.
Very worth it
I bought mine of ebay about 7 years ago for around $700 new and love it. It is well worth the money as it will never wear out.
I tried it. It is only worth it if you -
want to read about how wonderful it is that they are now training and credentialling overseas MTs. That is the truth. If you don't believe me, you can waste your money on it.
Not worth it
I didn't quit smoking with Wellbutrin, but used the generic nicotine gum 4 mg then 2 mg, which tasted awful, but stopped the waves of rage from quitting smoking. Wellbutrin made me giddy for a few hours, then I crashed almost instantly and would become solemn and depressed, which made me want to smoke. Does anyone know why there is a drop off like that? Is that normal with these types of drugs? I don't take anything in the way of medications unless I am deathly ill.
Yes, well worth it (SM)
It was definitely worth the $15K, but after years of trying all the other fertility treatments and having them *fail* (total of all of those was probably $10 to 15K as well) it was just such a risk. I knew if it worked it would be worth every dime and then some, but if it failed it would only send me into a deeper depression. Not a good thing. Thank goodness for happy endings. Make that thank GOD!
I'm so glad to hear other success stories. No one knows the agony of infertility unless they have walked in our shoes :-(
Thanks for the post.
Would it be worth it?
Hi everyone. Been reading your postings and thought you could help. I presently work in a clinic but have been mulling the idea of working from home. Would it be reasonable to assume I could make at least $9.00 an hour working from home (realizing I would get paid by cpl) Should I quit my job and go for it?
Thanks
Here is my exp for what it's worth: SM
I used to do what you do....I felt like I had a lot to offer, never had a problem getting a job that paid a good wage, great insurance, great vacation.
I got into MT as a fluke and for the 1st 5 years I made a ton of money and worked at home. Along the way, I became less desirable as an administrative assistant--had been out of the field for too long, I think.
When the MT pay started going down and I found I had to work 12-14 hours a day to make less than what I was making in the beginning, I really have tried to get an admin. asst. job again, but I am losing the job to people who have been employed right along the way while I was here at home.
Stay with this job--ride it out. You are likely to have to work 12 hours a day or more to get your lines in and keep your benefits if you come home to work.
What you are worth
I don't believe it is true that MT is a bad field or a declining field. It is a great field and anyone who is capable of going through the education and gaining experience will find it is well worth it. Negative attitudes make every job unappealing.
Get the training and check out the companies. I have been an MT for 17 years and have always made no less than 50,000 a year. I only work 8 hours a day, no weekends. I love the job.
Is it worth it?
I posted a message yesterday on the New MT board. I haven't seen a response. Can anyone give me advice?
I am disabled and need to train in a new profession. After some reading and researching, I wonder if I should learn MT.
With so many jobs going to India, Philipines, etc is there really work (and I mean work that will pay me enough money to more than survive) in the US?
With Dragon, is it easier for non English speaking persons to transcribe? I am really nervous. I can't waste time and money learning something that is no longer offered here.Is it worth it?
I apologize for the redundancy. I am new to posting, and this is my third try.
I think it is worth it.
I think it would be worth pursuing MT and coding both, to increase your career worth.
You'll have to learn ESLs and speech recognition software to keep up with the MT side of it.
Email if you want. I'd be happy to talk more about it.
Is it worth it to become CMT?
Hi - I have been a Transcriptionist for 9 years and have considered testing to be a CMT but I want to know if it really matters? I'd welcome any opinions either way.
Thanks!
You are worth more than 8 cpl
I can understand your frustration. If you do not think that 8 or 9 cpl is worth it to not have to put up all that it takes to have these accounts on your own and not through the MTSO then you obviously have never had your own accounts. Now I have, and I know what it takes, and it takes a lot more than sitting down and typing the report knowing your anatomy. When you have your own account, you have to do it all as far as keeping records, interacting with the office staff, technical issues. When you accept the 8-9 cpl from the MTSO, that's all you are expected to do is type. When you are making the 17 cpl, there is a lot more to it. Have you had to beg the physicians for your paycheck or play sweety nice to their office manager just to get your money? I'd say probably not. Now, if you do not like the 8-9 cpl, then open your own MTSO and you can charge more, but let me tell you something, you are going to be responsible for a heck of a lot more than typing that report and knowing your anatomy.
What's it worth to ya'?
NM
Please tell me you are worth....
AMEN!!!
It's been worth it for me (sm)
Both for work incentives and for personal benefit, I'm glad I did it.
What we are worth
We are worth only what the market will bear. There are significant downward forces now on MT wages, with offshoring being a major one. I used to recruit nurses and heard a lot back then about their feeling that they weren't paid what they were worth, and I'm sure they're not, as we are not, but the economic reality is that all pay is based on supply and demand. That's the facts, and the only thing that will bring wages up is a shortage in the labor pool. That obviously has not been the case in MT over the last few years. Wages only go up when there aren't enough qualified applicants to fill needed positions.
Is this worth while
Can one really make a living working for this company??? Is the pay worth while?? Are the benefits there??? 
for what it is worth
I think you should be paid more, but I doubt you will get it. The worst authors, longest minute dictations with very lines, etc.., always get passed off to the better MTs unfortunately.
It is worth however much someone is willing to pay for it. nm
x
IT IS WORTH IT oh my it is WORTH it!!! sm
Sorry to shout, but you know, if you want to make the big bucks you MUST have a real live Expander program.
While I am personally in love with Smart Type, it has so many limitations, I can't give you a recommendation. If I had it to do over again, I'd become dependent on InstanText. This is a similar and in many ways better program than Smart Type.
GET IT, GET IT NOW, DON'T PASS GO AND SPEND THE $200!
When you it arrives, email me and I'll give my 20,000 or so expansion library/glossary that you can use with it. Sticking with it, you'll find your production effortlessly go up and the wear and tear on your hands go down.
She has already said not worth it to her to
x
Just how much do you think you are worth?
I earn less than that being an MT and live quite comfortably, my only real debt being credit cards and car payment. I guess it depends on where you live.
Is it worth it?
I am a single mother of one and am thinking about going into MT, but with all the downsizing that is going on do you think it is worth it? I've seen a lot of posts lately about veteran MTs being worried about their jobs. I don't expect to get rich, but right now i'm umemployed and have been making a living selling on ebay. I would like a career with more consistency and benefits.
Thanks for any input!!
Kelly
Yes, I think all in all it's worth it
You might want to consider working in-house for a year or so to start out. It gives you an opportunity to have a "mentor" and get a real feel for how things really work. In-house also provides better pay and better benefits usually, though not always.
Working at home is great. You get to stay in your PJs and save on gas, eating out, etc. There's none of the cattiness you get in an office setting. It also requires a lot of discipline. You have to get used to the solitude and not being able to run to someone for help with something. It's just you and your computer.
In the end, I'm not sure if I had it to do all over again that I would pick this field. It works for me now b/c I don't want to have to start all over again, so I make it work. But given the chance to go back in time, I think I would have chosen something more along the lines of a physician's assistant or medical administration. But that's just me.
Is it worth being an IC at 7.8 cpl?
:(
I think it's worth it...sm
especially if you're having to drive a decent distance to get the tapes. It's an easy process to switch over. Is the doctor willing? If you have any questions, feel free to email me. It's easier to answer specific questions via email than general onesin the forum.
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