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Globespan in Calif. wants IC at 5cpl. Who can live in Calif on that? - anon

Posted: Feb 01, 2013

Oh, they don't outsource! You also have to have your own computer, foot pedal and Express Scribe program...oh, they will send and receive. Is prostitution legal in California..don't know all the laws from state-to-state. Better Google that.

Maybe someone who lives in a cheaper cost of living state - will apply. Doesnt have to be Cali MT. nm

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Good point. Maybe can live in India too..cheaper there. - anon

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Wonder where in the US you can live below minimum wage? North Dakota maybe.

Surely you jest. 5cpl is not a living wage in the US. - incredulous (nm)

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nyet

I didnt say 5cpl was living wage. Said not all states have as - high a cost of living as Cali. nm

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x

But they don't have as low of a cost of living - as 5 cpl! nm

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/

It just occurred to me that I used to get really angry when...sm - Retired MT

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MTSOs would post an IC position for a ridiculous rate (back then 8 cents a line), not a living wage left after paying all your own taxes, then being required to work a very specific schedule to boot. Misclassification of employees as ICs is not new. What is new is that these misclassified IC MTs being contracted for 5 cents a line will not even make enough to pay the taxes that their "employers" are evading. What a shame!

Post makes no sense.Taxes are a % of whatever you - make, even if only $20.00. nm

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I dont understand the last post - confused

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where are you that taxes are 0 %?

confused -- mis-read previous post - confused

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Yes, federal taxes are a % of what you make, but social security taxes for an independent contractor are the regular social security taxes taken out of your paycheck as an employee + the matching amount that the employer pays for you. In other words if you are an IC, you will be paying double social security Tax, and the employee will not have to pay any social security Tax for you. I.E. your Usable income (total income - double social security Tax) will be significantly less, about 6% less than if you were employed. So,in that respect the employer that hires IC is "evading" taxes, if the way they use their IC's meets the federal guidelines.

oops, typo - confused and tired

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oops in my post above, I should have said the EMPLOYER will not have to pay any social security for you. You have to pay all the social security tax which I think is 12% of your income.

Dont forget. When IC pays employee's 6%, that 6% is - part of IC tax write-offs. nm

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no it's not.... - not all ICs can use

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tax write off's if they do not have enough to itemize and have to use the standard deduction. so we end up paying full ss tax and get nothing for it. we do not get a tax break for being IC....we actually end up paying more than employees do. So many people do not understand that not all of us have enough itemizations to be able to write off anything. it's not all that cut and dried. do not mislead.

YOU should not mislead. IC can deduct portion of elect., morgage, - water, trash, gas, etc SM

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ICs do not have just office supplies to deduct. Heck, if you are IC and pay for your own insurance, that can be written off. I wrote off 2 grand per kid for the "work" they did for me. There is absolutely no reason the IC cannot write off the employee part of SS tax. Sound like you, if you are an IC, need a good tax guy.

you can ONLY make these deductions if - your itemizations are HIGHER

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than the STANDARD deduction....many times they are NOT! I am fully aware of how much one can deduct and what...been an IC for a LONG time, but before I purchased my home, I did not have enough in deductions to be MORE than the STANDARDIZED deduction, and therefore could NOT. caprende?

IC should always be able to itemize more than standard - deduction. Again, get a good tax guy. nm

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s

With all deductions allowed, how can IC NOT have - more than standard deductions ? nm

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x

maybe because I won't "cheat" on - my taxes and lie about

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things I have or have not done. If you are "honest" about everything, you may not have enough deductions to be over the standardized deduction...i.e., do not have dependent children, do not have credit card debt, did not own home, i.e. office space and office equipment was not enough. So sometimes if you don't lie and cheat, you cannot meet standardized deductions. no health insurance. etc.

Dont own home, rent, utilities are still a deduction. I dont lie/cheat, - everything oked by tax man, up & up. nm

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And, oh yeah, tax man cost is a write off, too. - nm

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I dont cheat. I am just smart, taking advantage of all that - IRS says I can. You need a tax man. nm

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x

Taking advantage is correct... - standard deduction is

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$7000. Without children as dependents, a spouse, or purchasing big ticket items like a home costing $300,000, and three vehicles, or having 10 credit cards all maxed out, lots of interest payments, just your "business expenses" would not add up to that amount of deduction. IRS says you can take all these deductions if, in fact, you HAD all those deductions. SOME don't. It doesn't mean these people are STUPID or need a better TAX man, it just means they are not "inflating" their deductions. and for those who think they are SMART because they are "allowed" to take these deductions, whether they have actually had "receipts" for these things they are claiming, I hope they get audited! Now stop arguing about it because just because YOU say YOU can do it, some others cannot. Not everybody has YOUR situation and that does not mean they are stupid or need a tax person who may be unscrupulous.

Send the IRS guy. My tax guy is not unscrupulous, - I have reciepts for everything, And you SM

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dont address utilities/rent as deductions. Why not, they are valid deductions. I have one car paid for, no credit card debt, in fact, no debt at all.

My tax guy requires everything I claim to be documented with paper, No problem. My deductions are legal and taken by millions across the country. Gosh, I am glad I am not so bitter. * (And glad I have a current/honest/diligent tax guy.

I could not possibly address - all of the deductions allowed

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but being so "tax-smart", you should know all of them anyway. You also did not mention if you had dependent children or a spouse to make your meeting your goals easier...single people are penalized just for simply being single. married/families have better deductions. Face it You do not know everything and your situation is entirely different from mine. I do not have "rent", I own a home/condo, utiliites are minimal and I do deduct them when I can. I deduct everything I possibly can and sometimes...SOMETIMES>.. still cannot exceed $7000 in standardized deduction for a single person with no dependents. Now I will not argue the subject any further with you because obviously you cannot comprehend anything beyond your particular situation and will not admit that you MAY possibly be wrong about anything! Now go back to work and drop the subject. I will no longer address nonsense! or someone with a god-like attitude who thinks they are they only one in the world who knows absolutely everything about everybody elses situation!!

To standard deduction poster sm. - anon

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I just wanted to point out that individuals cannot deduct credit card interest on taxes. That went away years ago. You obviously have not done your own taxes in a long time (maybe at least a decade or 2). If an accountant is deducting credit card interest, he is wrong. I'm talking individual tax returns. I haven't been an IC in years, but have done my own taxes for quite a long time.

Business expenses go on Schedule C not Schedule A - Standard deduction is for Sch A expenses only

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If you're an IC and think your business expenses go on Schedule A, you're wrong and cheating yourself.

Though if you haven't been filing a Schedule C, maybe you haven't been paying self-employment tax, either, in which case you're probably coming out money ahead overall -- but wrongly.

So glad I have a good tax guy and I dont have to keep - all this stuff straight. nm

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x

I agree with some of this and disagree with some - ICManiac

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"not all ICs can use tax write off's if they do not have enough to itemize" I disagree with this statement. ICs report their income on Schedule C, which includes detailed expense reporting including everything from computer purchases to business use of home (which is detailed on another form but totaled here). No matter how small the expense, it goes on Schedule C for an independent contracting reporting income on a 1099.

"and have to use the standard deduction" I agree with this because for the IC, line 40, standard versus itemization deduction is the wrong place to claim business expenses.

"so we end up paying full ss tax" Yep, that part stinks big time.

"so many people do not understand that not all of us have enough itemizations to be able to write off anything. it's not all that cut and dry. do not mislead." I disagree with this statement in its totality as being inaccurate. I think you are confusing itemizing deductions for business by an IC using Schedule C with an employee who might choose to use Schedule C when they have huge personal expenses that would be greater than the standard deductions.

ICs take their business expenses directly off their income on Schedule C AND can claim standard deductions on line 40 on the 1040 return.

It has been my experience.... - that you CANNOT

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use BOTH schedule C and the standardized deduction! I have experienced this myself and know it to be a fact. Not confused, just experienced it first hand....although I will concede that at the time I experienced it, I was using TurboTax to do taxes, and now since using TaxAct to do taxes, I have not experienced this...maybe it was the software. Will not discuss this any further...can't beat a dead horse, although some absolutely try.

Not to beat a dead horse but - ICManiac

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I just underwent a line-by-line tax audit by the IRS for tax years 2007, 2008, 2009, 2010 and 2011. I prepared the returns myself, not using a tax professional. For one tax year, I even had to use two separate Schedule C forms because I was a statutory employee for some income and strictly IC for other income.

The IRS approved my reports without making any changes whatsoever. I claimed my business expenses on Schedule C and the standard deduction on line 40 of the 1040 form.

I'm not beating your dead horse, but if there are still any readers following this thread, this information could be helpful to them. My background is that I have worked for a CPA assistiing in preparation of tax returns. That is not to say I would now do anyone else's tax returns, but I think 5 years of self-filing returns holding up to the scrutiny of a line-by-line audit is validation that I did things correctly.

Said IC cant pay taxes if pd 5cpl. But that is wrong. IC - would pay a % of whatever SM

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IC made at 5 cpl. IC wouldnt be unable to pay taxes if she was making 5 cpl is wrong. She would pay a % of what she made on 5 cpl.

BUT she would also have to pay self-employment tax! - In addition to that percentage! nm

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x

She will never have to pay more taxes than the income - she made. Not too complicated. nm

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x

"She will never have to pay more taxes than - the income she made>

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but will there be enough left to live on, is the question. and now taxes going up so probably not enough.

SE tax is separate, a couple thousand dollars, - in addition to percentage of income. Duh. nm

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x

ICs ALSO pay self-employment tax - No getting around it nm

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x

TTS - Smitth

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I am currently working for TTS getting $0.0343 CPL, legalized slavery is what I call it.

That's insulting - anon

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No one is making you stay at TTS.

Seems to me you have freedom of choice, something slaves never had.

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