IC Questions - alb8ros Posted: Sep 26th, 2016 - 5:07 pm In Reply to: IC questions. - thinking about becomine one. sm
I became an IC after I was laid off from our local hospital. I had to learn the rules as I went, since I was unprepared for it all. As far as I know, here are some answers. However, I would suggest you go to the IRS site and read the details (Link posted below).
Can I take off on holidays?
- You determine your own schedule if you are an IC. In my case, I tell them if I can't work as soon as I know (ie jury duty).
Do you have to make up time when there is no work?
- I type what they send me and it varies by the day.
Do you have to punch a clock or submit a time sheet?
- I submit a time sheet with my hours for the pay period. I keep my own time log. I do not clock in or out.
If I have submitted the required number of lines in 6 hours, can I considered myself finished for the day?
- If they tell you you have to work a set number of hours and produce a set amount of work, that might fall under employee.
Are you restricted as to the number of days/hours you can take off in a year?
- You determine how much you are willing to work.
Are you required to do "mandatory overtime?"
- I have worked over 8 hrs in 1 day but I still get paid my hourly rate.
I think I understand the financial ins and outs of being an IC, but what about working conditions and schedules?
- I work from home.
- I submit my schedule for the next month to let them know if I will be unable to type any particular day.
I also understand about clients needing TAT, but if you have to take off and give a couple weeks notice for a dr appt., etc., do they consider you cheating?
- I don't understand this questions. In my case, I type for a clinic and my TAT is that it needs to be back by 8 am the next day.
Are ICs still being treated like employees?
- For services, apparently so.
I don't work for a service; I am suddenly, to my surprise, self employed, which brings up a whole slew of other issues. LOL
For that reason, I don't know how helpful I have been.
https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee
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