If you don't want to get slammed with a huge payment due, estimated quarterly taxes
Posted By: is the way to go. nm on 2007-05-14
In Reply to: MT taxes - tan
s
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- MT taxes - tan
- If you don't want to get slammed with a huge payment due, estimated quarterly taxes - is the way to go. nm
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Not the OP, but you can pay your taxes once a year at tax time. Estimated
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Patti is correct. I do not pay quarterly- sm
taxes anymore. I was doing it but it seemed silly since my husband was having extra taken out from his taxes which covered my taxes. We still end up getting back about $1500 every year. Total waste for me to send them $1200 a year just to get it back a few months later.
Estimated...
I esimated it at 2.5 hrs. During that time, I was also changing diapers, feeding the baby, and washing clothes, so I'm not sure exactly how much time was spent transcribing. I have no way of actually keeping up with it, but yes, I made money. :)
REFUND AND PAYMENT
Okay, that's now. What happened in June and July. I started with you in June. I was supposed to receive my check around the first week of July. Here it is September and I still have not received it. When am I going to get it. I had to take a job outside my home, which is something I didn't want to do, just to get by. If you are as reputable as you say you are, where's my check? and the footpedal. I paid $99 for something I didn't even get. It's as if I worked my butt off for you for free. I emailed you several times after the incident with your husband, have not heard from you since. You want people to give you the benefit of the doubt, give us a break! I am a new MT, I trusted you to help me get into this field and look where it got me. I still have not been able to find a job. and this has really discouraged me. I told you in the first email I sent you I did not want you scamming me and you did just that. So with that being said, could you please send me my refund and my check for what you owe me certified mail so that you can know I got it.
Andrews' monthly payment is low
Andrews' monthly payment, after a down payment, is reasonable.
Even though the payments are spread out over 2 years, they charge no interest on this, so it's basically an interest-free loan.
When you graduate, you will have no loans to pay back, which will be a load off your mind and pocketbook. You won't have to sweat getting your working speed up to cover both your living expenses AND your student loans.
Andrews' cost includes everything, including the working references your future employer will require you to have--they'll give you a list and you have to have them. With Andrews' you will have them.
It's also nearly impossible to go through Andrews and NOT get a GOOD job at the end. Their students have jobs waiting for them, nearly, and they get up to speed somewhat faster than most other grads.
Andrews will continue working with you until your skills are marketable, at no extra charge, so there is less risk than with some other schools. There is no chance with Andrews that you'll get to the end and be unable to make it in MT or be unable to get a job.
Most students who go with Andrews find that they can come up with the down payment in a few months. They employ creative money-raising techniques like yard sales, e-bay sales, yard work and car detailing for relatives, and often find that friends and relatives will make donations or give them a loan or pay the down payment outright when they hear what the student wants to do and what school it is.
Andrews is one of two schools approved by the AAMT and AHIMA to teach medical transcription.
IC can file estimated x4 annually or....nm
no, 4/2006 payment is for 2005 year...nm
x
No, it would be a huge mistake.
I have 20+ years experience in this field. One thing you have to understand, wages are DROPPING for MTs. Check out the posting on the Main board, (2006-09-15) where an MT with 12 YEARS experience was just offered a position with one of the major nationals. And what was the marvelous pay offered for this extremely talented individual? 6.5 cents per line. I would venture that to be 6.5 cents every 65 characters (not really per line). Just 10 years ago, an MT could start at 9 cents per line. Now experienced people, NATIONAL companies are going at 6.5? helloooo....Does this raise a red flag? There is a tremendous amount of competition, not only from India and the Philippines but from companies who want the docs and the hospitals to buy their voice recognition and EMR programs. It is not a fluke that wages are dropping. I would be willing to bet that you would NEVER find a job...just try that scenario on for size. 
I hate to be discouraging but I also hate the way people are led on about the MT field. And I hate the idea of you investing time and $2000 just so you could never get a job.
This is a huge list of MTSOs.
This list is huge. A lot of these seem to be small businesses. I only looked at one state, but the list was long. Not many have websites, but some of these businesses are still doing tapes and offering a wide range of services. You will therefore want to look mainly in your own State.
If they can only receive resumes by mail or fax they are not getting swamped with them, so you might have a better chance. . Happy hunting!
http://www.transcriptionvendors.com/index.htm
Except it's not a huge list of MTSO's. It's...
a site where you can post your own business if you want. Most of the postings are solitary MT's, just like you and me.
...owing a huge chunk all at once. nm
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There are small-sized medical dictionaries, too, instead of the huge
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It's not a hobby, huge investment for a little "extra" money. See msg
If you can find a job working as an MT without training, I'd like to hear about it. Even MTs who take the cheaper courses have a difficult time getting hired, when there are excellent training programs turning out well-trained MTs (Andrews School and M-TEC).
If a foreign doctor with a strong accent who speaks very quickly is dictating in a noisy ER, would you know whether he is saying perineal, peritoneal, or peroneal? You need to totally understand what he is talking about in order to know if you have the correct word, and a spellchecker won't help.
Would you catch it if a doctor accidentally dictated a medication in mg instead of mcg?
Most people have no clue how complicated the medical language is, made more difficult by fast-speaking foreign doctors (or mumbling, slurring Americans) dictating in noisy places who don't really care if you understand what they are saying or not (but the person paying you certainly cares!)
Scroll down just a little & you'll see "This is a huge list of MTSO's"
posted by Misha. I think this is what you're talking about.
MT taxes
Hello, i'm a new MT, just got hired last month as an intern. My question is, is there anything special that you have to do different with your taxes? My contract states i'm a "independent sub-contractor" and i was just wondering if you still do your taxes with everybody else in Jan. or if you have to do yours every 3 months or something? 
Any help i would greatly appreciate! Thanks.
I pay up to 39% in taxes but that is because
I am responsible for paying in DOUBLE the taxes, i.e. the taxes that my employer would have paid half for. I deduct my internet, mileage, supplies, percentage of home/office space, stamps, mailings, tolls, percentage of phone and utilities, etc.
taxes
How do you figure the % of your home/office space?
Taxes
I have never had to take my own taxes out of my check....HELP? Are there any websites that can help me calculate how much to take out?
Thanks.
Taxes
Thanks for all of your help!! It was quite useful.
Amanda
IC Taxes
Does anyone have any information on how to find out exactly what I am going to owe in taxes or some kind of tax calculator? I have been trying to save money out of every paycheck but I want to make sure that I'm going to have enough when tax season comes around. Hopefully someone can help me as this is the first time I will be paying my taxes.
Thanks!
Amanda
taxes
I called my H&R block and they told me to take out 20% after I told them about what I thought I would be making. I told them a little more, just in case.
Taxes
10% off the first $10,000
33% for anything after that....
for me anyway.
Taxes
If any of you are IC you know that the little stubs you send in with your check every few months has a date on it when the taxes are due. I forgot about mine and sent mine off 3 days late. Anyone know if that will affect me in any way, like a late fee or something?
Self-employment taxes...sm
If you are self-employed, you must pay your taxes quarterly, regardless of other income in the family. You are responsible for the federal income tax as well as state tax. You can go online and pull off a state estimated tax form(voucher) and same for federal taxes (1040-ES/V) form. Both are due quarterly. Once you get going, it won't seem so foreign to you.
No, that's not why. You pay 39% in taxes because you have a high income.
The actual percentage is only 15.9% for medicare and social security taxes as a self-employed person. That percentage is what people are referring to when they say self-employed people pay "double" taxes.
I've been an IC for five years and never had to pay more than $600 one time a year for taxes...
I have so many deductions that I almost don't pay taxes. Yes, I also have a tax professional do my taxes. I keep a clear plastic envelope on my desk and anything I buy related to the business or phone expense, % of electricity/gas, health insurance, medical expenses, etc., all go in the envelope so at the end of the year I'm not searching everywhere for my deductions.
Anything you use for your business is deductible, but used items. If you buy a used computer on e-bay it isn't tax deductible. It has to be new to be a deduction.
Whoa..how much can you make on eBay before you DO need to file taxes on that income?
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