A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Which pays better? IC or employee with equipment provided? - mrs.krabs

Posted: Mar 30, 2010

I've got several options out there. I was with MQ/TL for 12 years. Transcription experience 25 years. I'm getting a little freaked out about learning a new platform. I don't even know Microsoft Word! I did manage to muddle through it to type a new resume though. Not too hard. How much should an IC charge per line to cover taxes, expenses? Any IC advice would be helpful. Thanks.

Which pays better? IC or employee with equipment provided? - mrs.krabs - Anon

[ In Reply To ..]
The rule-of-thumb is between 20% to 30% more as IC to make up for benes. This varies, of course and can even be more. If normal benes are offered like health ins., dental ins., paid vacation, then it's closer to 20%. It can even go well above 30% if it includes supplemental ins., paid training, all systems and equipment, all software and licenses, all books and reference material, consumables like paper and toner, travel exp., bonuses and other items as specified.

Depends on what you need... - jm0405

[ In Reply To ..]
I usually work at least 6 months out of a year with a 2nd employer, one that holds out taxes so I get a refund the following year.

But, if you're married, have insurance, husband's checks are paying taxes, then you can do either one.

IC pays better up front - no taxes each paycheck so you know exactly what to expect each payday. Taxes withheld? Deduct about $150 from your total income and that's your paycheck - somewhere in there anyway - so you would make less up front, but it works better for you on April 15th when Uncle Sam rewards you. LOL!

Similar Messages:

Jul 21, 2014

Are there any employers that furnish the necssary hardware anymore? ...

Oct 27, 2014

do they hold your final check until they receive the equipment? My payday is supposed to be Friday and they were supposed to send me the tags to send back the equipment, but I have not received them yet, and I am thinking I will maybe not be paid on Friday if they have not received the equipment. TIA ...

Nov 02, 2009

Hi there - i work for a hospital but we were sent home to type 1 year ago. Now my Norton's antivirus is up I was just told by the director of our department that I have to pay for the subscription myself ($45!) and then be reimbursed by the hospital....is this the way it is done? Seems to me it is a little iffy - just wanted some opinions....thanks! ...

Jan 16, 2010

Does Medquist still provide a computer to transcriptionists. If so, is there a rental fee or deposit fee? Also, is this only for full-time or also for part-time? Thanks! ...

May 21, 2012

Those of us working from .07 to .08 cents per line with a service are making .03 cents per line less than we made 25 years ago. How many of you have reduced the services you used to do for clients to compensate for this gross reduction in wages? Is that an option? Should we stop doing ANYTHING but pounding the keyboard, afterall, that is all was get paid for. The rest of our services are unpaid: research, verifying patient data, keeping spreadsheets for the client, phone calls, installing so ...

Dec 05, 2012

The Web/Nuance part has been told next year we have to buy our own Shorthand license. I know Transcend downloaded for me (and am still using at my PT job) shorthand licensed to MDI way back when. Will we get to keep that? If part of Nuance (Trans/Nuance) gets to have it provided free I would think they could figure a way to let the rest of us have it also. ...

Oct 10, 2014

Does anyone know if iMedX installs tracking software under the guise of an antivirus program on employees personal computers when hired? ...

Apr 01, 2013

It says it is a trail version though. Did everyone pay for their own word expander or did MModal provide it? I'm wondering why they put Shorthand on desktop and then we have to pay for it. ...

Jul 18, 2014

Nuance not paying me enough to afford my own computer. ...

Oct 10, 2013

I'm seeing more and more job postings for statutory employee status. I'm trying to figure out what an appropriate line rate request equivalent would be since I would be responsible for withholding income taxes. For example if the traditional employee line rate is 8 cpl for transcription what would I need to request for statutory status? The same or more? ...

Mar 11, 2014

Has anyone else left Nuance for another company only to have to return after acquisition? Were you just reinstated or did you have to start fresh from day 1 again? ...

Jun 07, 2010

If you work for spheris and do both piece rate and speech recognition do you get seperate pays for each and w2s? ...

Oct 20, 2010

I keep reading posts about companies that pay 5 or 6 cpl for VR but where are these companies posting their job ads? I have 13 years of experience as an MT and my hands are sore and ache with all of the straight typing. I would love to make 5 or 6 cpl for VR not 3 or 4 cpl for VR!!!!!! Email me the names of these companies if your afraid to put them on the board, I don't mind ! ...

Jul 05, 2012

So if they have horrible accounts and you can edit only 250 lines an hour then you're making $7.50 an hour? Or even 300 lines an hour then you're making 9 bucks an hour? Is this a joke?! ...

Aug 04, 2011

I am in the process of transitioning jobs and will be going from a company-provided computer to my own. Any suggestions on what software programs are needed, virus protection, word expanders, line counting, and hardware like foot pedal? The hospital I am looking into will be using Microsoft Word. Any comments on whether this is a good program or not to transcribe on? Any tips? I have been with the same company for 15 years, so have been out of the loop and need ...

Jan 29, 2011

and if so, how much and for how long? Also, any negative or positive comments about the company would be great, too. Thanks! ...

May 14, 2011

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=MEDQ&pg=6 CEO Pay Database Peter MasanottiPresident and Chief Executive Officer MEDQUIST INC (MEDQ)Headquarters: MOUNT LAUREL, NJBusiness Services 2009 Compensation 2009 Salary $500,000 Bonus $0 Value of Stock Awards $0 Value of Option Awards $0 Non-Equity Incentive Plan Compensation $700,000 Change in Pension Value and Deferred Compensati ...

Aug 15, 2011

To all you are wondering if it can happen. Yes, it can and it did for me. I was just hired for my first coding job!!! I am only half way through my AHIMA coding course but I have 20 years of acute care transcription experience. I applied for every job that came up even if I did not meet the requirements. Only a few responded, but that is okay. It only takes one. I was really surprised that I even was offered the chance to test. My first test was a ...

Sep 22, 2012

Still cannot see which Transcription company pays the best. No one wants to say. Is there a company who pays more than 0.085 cpl? ...

Jan 14, 2013

http://www.indeed.com/viewjob?jk=0f5077fb6e43f827&q=transcriptionist&tk=17grulpri069g0c3&from=ja&alid=1a4a919d4738efdf&utm_source=jobseeker_emails&utm_medium=email&utm_campaign=job_alerts ...

Aug 19, 2013

I was hired as a recruiter for a large cancer nonprofit that holds walk-a-thons. It is a 3-month temporary position and I was allowed to choose the hours, anywhere from 20 to 40 hrs a week. It involves reaching out to corporations and individuals and asking them for in-kind or monetary donations as well as participating in the walk-a-thon itself. Most of the contacts are repeat donors and are happy to get the call to join in the event again. Participation with the event is also required - se ...

Oct 17, 2013

Can someone tell me how often Imedx pays? Weekly? Biweekly? Thanks in advance. ...

Nov 24, 2009

NM ...

Mar 19, 2010

Does anyone have any idea how much WebMedx pays its QA people? Can you make a decent living doing it? ...

Mar 25, 2010

Does anyone know if softscript pays hourly? Are there any hourly paid jobs out there? ...

Jan 29, 2011

Can anyone tell me if Amphion pays for spaces? ...

Feb 14, 2011

Does anyone know if Transportal pays for spaces or not? ...

Sep 07, 2011

Currently working for a company that pays 0.055 cpl. How can anybody make any money? Throw in their formatting and you might as well be working for free. Any input would be greatly appreciated. ...

Nov 27, 2011

On a post below about SGS, an MT states that she is being paid minimum wage. She states she had to 'fight' for it, however, they are paying her minimum wage on the accounts where she is scheduled, and expected, to sit in front of her computer when there is very little work. I have asked several coworkers about this, and some of them are being paid minimum wage, as well. Not all; only the ones who requested (demanded) it. THERE GOES ALL MTSO CLAIMS THAT SINCE WE' ...

Feb 08, 2012

does anyone have an idea what oracle pays? line/hour/page? ...