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

Does anyone know how to calculate - IC

Posted: Jun 18, 2011

If you are an IC - and get 3.5 cpl for speech - what is left after you pay taxes - per line, like a half a cent profit? Maybe its just me, but how on earth do you make any money at that point?

If you deduct 30% from the 3.5 cpl, you have 2.45 cpl left. - nm

[ In Reply To ..]
nm

I was going to suggest saving 25-30% of each paycheck - mt

[ In Reply To ..]
so you can pay your taxes come tax time. I'm actually surprised you are only being paid 3.5 cpl. I get 4 cpl and I thought that was low. Seems like they are trying to go cheaper and cheaper. They're gonna starve us out.

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