A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Statutory employee vs. traditional employee status inquiry - Inquiring mind
Posted: 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?
statutory employee - good luck with that
[ In Reply To ..]I don't mean to disappoint you, but I'm being realistic when I say "good luck with that." You won't likely have a choice in what you're paid, no matter whether it's IC, full employee, or statutory employee. You know how in the housing market they say it's a "buyer's market" or a "seller's market." In the MTSO industry, we current have an "MSTO's market," not an "MT's market."
I thought statutory had taxes held by the MTSO (that's been my experience). - PassinThru
[ In Reply To ..]I rather liked being statutory because the MTSO withheld my taxes, but they also allowed me flexibility regarding when I worked each day. However, it seems, like most things, that there are variations and different interpretations of how things should be done.
Line rate would be the same - regardless of who withholds
[ In Reply To ..]When an employer withholds taxes, they withhold it from *your* money ... from the money they just paid you. They just send it to the IRS on your behalf.
If your total pay was $100, they would give you 95 and transmit 5 to the IRS for you.
If they did not withhold, they would give you the entire $100 and you would have to send 5 to the IRS on a quarterly basis.
It makes no difference either way ... you pay the same tax.
What does change is Social Security. If you are a statutory or regular employee, you pay half and the employer pays half the SS. When you are self-employed, you pay the entire amount.
I applied for a job as an IC. highly disappointing - only offered 7/4 cpl
[ In Reply To ..]I make 9/4 as an employee, have PTO and paid life insurance. Plus the MTSO wanted a shift commitment. As if!
That is the value to the employer - sm
[ In Reply To ..]The pay difference is the value to the employer of reliability. That is what it is worth to them to know when you will work so that they can plan accordingly.
In their view, that is the trade-off for the MT insisting on working only if and when the MT feels like it.
When they cannot rely on an MT's availability, they have to over-hire to provide coverage. This results in increased administrative costs associated with personnel management and accounting, equipment costs, MT turnover, and client dissatisfaction.
OMG. Seriously? Its one more trick to - fool you. Please see msg.
[ In Reply To ..]I worked for MTSOs for 15 years, hospitals before that. I still do MT but its in-house for a large clinic and it will never be outsourced. It will definitely be replaced by EHR software at some point. In the meantime, I have this semester and one class next, and then I can apply to R.N. programs. The realities of MT have chased me this far.
What became clear is that MTSOs want rework the rules and call every employee an "independent contractor" so that when they fire you for ridiculous reasons, lose an account, or send an account to India, ALL OF WHICH HAPPENS EVERY MINUTE OF EVERY DAY, they are not legally on the hook as they would be if you were employees. For MTs to continue to bite on this hook degrades what's left of the entire industry in the U.S., for everyone. I wish it would stop. Do NOT take jobs as contractors. Stop feeding this beast! There is am MTSO who advertises here often and is in constant battle in multiple states over unemployment compensation because everything about it the job screams EMPLOYEE except that contract that people are desperate to sign for a paycheck. Its just insane.
Similar Messages:
Confused About Difference Between Statutory Employee And IC Status.
Jan 22, 2010
I keep trying to find something definitive that spells out the differences between the two, but it all seems so vague or, at least, different companies seem to treat each differently. Specifically, since my company recently converted everyone over to statutory status, can they require the employees to set and maintain a strict schedule as they had when they were full-time regular employees, or should/do the statutory employees have more leeway in that regard, more along the lines of an IC? ...
Statutory Employee ?
Feb 11, 2010
Just exactly what does statutory employee status mean? I was recently changed from independent contractor to this? Never was that before, I don't quite understand it. Please help. Thanks in advance. ...
IC Versus Statutory Employee
May 01, 2013
Can someone please explain the difference between an IC and a statutory employee, I have looked it up and am not clear. I understand that statutory employees get social security taken out, when ICs get nothing taken out, but what are the other differences? Thanks. ...
Does Anyone Work As A Statutory Employee Anymore?
Mar 12, 2011
I have been working as an IC for a while, but used to work as a SE where some taxes were taken out of my check and matched. The self-employment taxes are killing me! My federal income tax is minimal (have great deductions/credits while my kid is still little, but that isn't going to last forever). Has statutory employee gone the way of the dinosaur in MT? It seems that I don't see any ads listing SE as an option. I'm not looking to change MTSOs or get names of s ...
Income Taxes/statutory Employee Question
Feb 27, 2014
I was one of the people originally with MDI who was sold to Transcend who was sold to Nuance. With MDI, we were statutory employees. When sold to Transcend, we were told repeatedly and often that statutory employee would no longer exist, that we were straight employees. Same with Nuance. Yet my pay stubs say statutory employee and zero federal tax was withheld all year; however, the statutory employee box on the W2 is not checked. So what does this mean? How is it legal to be told we are straig ...
Employee Status
Mar 29, 2011
I would like some info regarding what companies provide employee status and what are the terms? how many lines are expected per day or per pay period. Any info would be appreciated - thanks! ...
Regarding IC Vs Employee Status, Does Anyone Know
Jun 04, 2012
if you can do both? I work for a company as employee (takes out taxes, etc.), and was offered a PT job as IC (no taxes out). Can I do both? Do I just claim each one separately on taxes? ...
Employee Or IC Status?
Aug 02, 2013
...and spaces included... ...
Employee Vs IC Status
Apr 22, 2014
I was just interviewed but found out they aren't allowed to hire for employee status in the state where I live. After having been an employee for a large MTSO, I wonder why this is the case. Any info regarding this strange practice? ...
Question RE IC/employee Status
Nov 14, 2009
I'm currently working as an employee for a company that I'm really liking. They also offer IC status. Does anyone know if it's possible to have a full-time employee job at the same company as you hold a PT IC status and not have the extra work be OT? I have a PT job at MQ that I'm trying to dump. ...
LANDMARK Employee Status Vs IC??
Nov 18, 2009
Anyone who works for Landmark know the difference between employee status and IC status at this particular company? i.e. line requirements, hour requirements, etc. I know the basic difference. Ive been an IC MT for over 14+ years, but am wondering what the specs are at Landmark in particular. Thanks for any info you may have. ...
Employee Versus IC PT Status
Nov 23, 2009
I have an interview tomorrow with a company for PT employee status. I have been an IC for many years and love it. I am a bit concerned about going employee as I am used to the flexibility of being able to take time off for my kids' school parties, fall, winter and spring breaks and such without it affecting my job. Can anyone give me a clue as to how employee status works and if some companies are more flexible than others?? I would love to stay an IC, but haven't f ...
Question Regarding Employee Status
Dec 04, 2010
I've been an IC MT for 10+ years and, as such, I have no benefits, but LOVE the flexibility of being able to do what I want/need during the day as long as the work gets done on time. When you are an employee working for an MTSO, do you have any kind of flexibility? If your scheduled work time is 8:00-4:00, do they allow any flexibility for such things as 15 minutes to drop off/pick up your child from school? Or an hour to go to an appt? I see a lot here where there i ...
IC VERSUS EMPLOYEE STATUS
May 09, 2011
I have an opportunity from two different companies. One is IC and the other as an employee. I have been an IC for so long. What is the pros and cons of both. TIA ...
Money And Employee Status
Jul 07, 2011
I never talk to any other MTs really, just sign on, work and sign off, so I just wanted some feedback from other MTs. First question, if anyone is willing to answer it, how much do y'all make on average weekly? I don't know anyone else in the business and would just like to have something to compare my production to. Second, does anyone out there have employee status??? I see companies offering benefits, PTO and all that great stuff, but i'm assuming you have to be an employee not ...
Employee Status/production Only Pay?
Feb 02, 2012
I know I have read about this on here, but cannot seem to find an answer. I started with a company as an employee. They paid for training, 2 hours. Now, it's all on production. Is that how it's done? Even if that falls under minimum wage because it will; I am doing VR work. How can anyone take a new job like this? ...
Employee Status Jobs
Apr 30, 2012
Who is the best company to work for as an employee without weekends? I used to work for AssistMed but didn't like working the weekends. ...
Softscript Employee Status MTs And MTs Who
Mar 01, 2013
reside in the state of CA but work for companies anywhere in the U.S. here is the law on reporting time pay. Can you say massive national lawsuit? ; ) REPORTING TIME PAY This is the law for CA for when you experience OOW/NJA: "Each workday an employee is required to report for work and does report, but is not put to work or is furnished less than half said employee's usual or scheduled day's work,the employee shall be paid for half the usual or scheduled day's work, but ...
Question About Employee Status
Aug 24, 2013
I have a general question for working as employee status. I know everyone's answer will be different depending on which company. I've been an MT for 15 years always as an IC and never could get myself to take an employee status job even having been offered several because the pay was too low, but something to consider as there aren't many companies to pick from anymore. My other option is to just chuck all this and do something else. How do health benefits work for em ...
Does Anyone Know If MD-IT Hires IC Or Employee Status?
Jan 19, 2014
Does anyone know if MD-IT hires IC or employee status? Any info on this company would be greatly appreciated. Thank you :-) ...
SYNERNET - I.C. Or Employee Status .... Sm
Feb 12, 2014
or maybe both? I would prefer employee status with a choice of FT or PT (but would accept I.C. if employee were not available). Thanks for any responses. ...
Employee Versus IC Status
Sep 17, 2014
I have been a medical transcriptionist for 22 years' and have worked as an employee for most of that time. I am still about 10 years out from retirement and am trying desparately to hang on to my beloved profession of medical transcription, but I am seeing it slip away from me little by little. Companies who hire employees seem to seldom have enough work to go around, harangue their employees through QA, and tie benefits to production. All these things combined are making it difficult ...
Wondering About Employee Vs. IC Status At TTS
Feb 12, 2015
Wondering about employee vs. IC status at TTS. The whole time counting thing after 4 minutes sounds kind of strange to me. Also, what is QA like there? Do they nitpick everything? I haven't heard from QA again since I was released from full QA with my current job. Unfortunately, looking for a new job because of work dwindling down. I am currently in school for something else, but need a job while I am in school. Any info about TTS would be appreciated. ...
Hourly Pay For Employee Status
Apr 01, 2015
I know the answer is probably no, but.....Are there any transcription companies who pay hourly rate for transcription versus production? (lol) ...
Escription Employee Status
May 21, 2015
Anybody know which companies besides TTS and Nuance use Escription platform and have employee status? Or even Escription as an IC? Thank you ...
TTS Insurance..IC Versus Employee Status
Jun 04, 2010
I am considering TTS (Transcription, Technology, and Support) and was wondering what anyone could tell me about their insurance such as rates, etc. Also, I'd like to hear from both IC and employees there. I didn't know which would be the best way to go. Thanks! ...
Independent Contractor And Employee Status
Jan 18, 2011
This is concerning work. There is one question on the questionnaire that asks if I want to be on independent contractor or employee status. Could someone please explain exactly what the difference is and the Pros and Cons of such. Thank you in advance. ...
Can Someone Explain IC Versus Employee Status?
Mar 01, 2011
Can someone fill me in please. Despite doing this for over 15 years, I still don't understand the "independent contractor" posts. I have always been a straight employee at services. What is the difference and what are the pros and cons? Thanks for your help! ...
Inscribe LLC Offers Employee Status?
Apr 27, 2011
Does anyone know if Inscribe LLC offers employee status? They contacted me from the resume board here and I know nothing about them but need a job ASAP. Comments? Concerns? Thank you !!! ...
PRN Military Transcription Employee Status
Jun 27, 2014
For any who have applied to PRN Military Transcription, please remember that if you work on any military/VA accounts, you must have employee status and be paid the wage determination rate for that work, which is an HOURLY rate. This company may have a mix of accounts, and you may be hired initially to work on non-government accounts at a line rate. However, any time you work on an account that has a federal government contract, you have to be considered an employee, not IC, and you have to b ...