Tax Deductions - Employee

I am curious how if you have only ONE mistake and you get ONE deduction for 0.5, how does that drop your score to 98.15??? I really don't understand the math that they use.... Can someone please explain this to me... Thanks! ...

I have just started a new job as an IC. I have been an employee and statutory employee but never IC. I know I pay quarterly taxes and have had them set up by my accountant. He, likewise, knows of all the deductions I can take, but I have seen a post on here giving a website where you can get this information, as well. Can anyone give me the link to this site? Thanks very much! ...

OK....just to be sure I understand this.....if I am an IC, do I deduct approximately 15% (like what my previous employer deducted for SS and Medicare) OR do I deduct 30% for my part and employer part? I've been on the IRS website but that's confusing. Don't have the money to consult a CPA right now. Don't want to take a job as an IC if this is a mistake. Have an interview for IC and 2nd interview for employee status. Sorry to keep repeating mys ...

Lines are deducted from my count on each report I transcribe or edit for a particular account, for headers and footers. This is understandable, except I have just realized the deduction is always made at the transcribed line rate, even though 90% of the work on this account is editing. So, I am being charged back more than twice what was paid for these lines. Is this legal? ...

Tax deduction when you work at home is definitely worth it. My friend is an accountant and anything done to improve your house is deductible (including crazy things like carpet cleaning, window cleaning). I even deducted new appliances and furniture and carpets ( in other rooms). ...

I did some research and have found that at least according to Federal Government guidelines, you can deduct home office expenses if you are an employee. The one big stipulation is that you are working at home because it is convenient for the employer. In other words, they cannot provide you with an office. Of course, in our case that is a no-brainer. The rest was pretty straight forward and much the same and I am doing now for tax deductions as an SE. My accountant ...

Since July I was on the insurance (515, plus eye and dental so a whopping 600 a paycheck) which was good at that time, then the switch in September to the high deductible (500, plus eye and dental so 585) and well care. Don't know about you guys, but we go to the doctors for ill more than well per year. With all the stresses we had this year, husband's job loss and me trying to make a paycheck at 30 hours a week, just got tired of working for nothing! Anyone else in that bo ...

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? ...

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? ...

For those of us who work at home but are classified "employees" by the MTSO, how does this affect our tax deductions normally taken as ICs? ...

Looks like the law is as gray as I've always thought. ...

I have only had one long-term position as an employee for an MT company. Left to get some work out in the "real world" but am in a position to return to an at-home job. Can someone explain the differences between an IC and an employee? What can I expect from applying for those jobs, and how does it affect your taxes, etc.? Thanks in advance! ...

Just out of curiosity, does anyone ever post anything friendly, kind, useful, thankful, etc. regarding MedQuist? Iâ��m a new employee and due to a recent acquisition would be out of a job without their support. Before accepting the offer I researched the company quite a bitâ�¦M*Model merger, DocQscribe, stock prices and company growth to name a few. All this enables me to say that Iâ��m employed by the #1 transcription company in the country and dang proud of itï�� ...

Hi everyone, It seems the hospital I am employed by may be outsourcing completely to mq. Rumor has it, if this happens then the 20 or so MTs will be going to MQ or not have a job. Can anyone tell me what I am looking at if that happens, trying to figure out if I should be looking for employment elsewhere. here are my main questions: 1. Is there a starting pay or is everyone paid differently? 2. Is there a schedule or is it flexible? 3. What kind of benefi ...

Has anyone out there accepted a job but then not been able to work because of technical issues? I accepted a FT transcription position, did the necessary paper work and went through the remote set up on my PC. I trained on the platform for 2 hours and spent another hour or so beginning to learn the account specs and editing a few voice files, all of that went well. The next time I tried to sign in, I could sign in to the VPN but not Ex Editor, it says to contact the system administra ...

take lunch? If you say yes, please provide some sort of link/proof. ...

I am a part time employee of an MTSO. In California the min wage is $9/hr, which means at 0.85/line for editing my LPH must add up to $9, while MTs in other states may only have to make $7.50 or so to remain employed. My Team Leader said that is somewhat unfortunate for me; as a 1 year out-of-school newbie I'm not as fast as other MTs. A few years ago I was an IC and I recall they did have a minimum line count per day but I don't recall having to produce more than ...

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. ...

Does anyone else work for Medquist? I have been working for them for 8 years now and am getting really fed up with their unrealistic policies!! I swear 85% of the executives for that company have never even transcribed one report including my own supervisor. They want to you to maintain 98% accuracy while following every single clients nit-picky policies and then having to translate about 85% of the transcription received from foreign doctors....while maintaining a 150 line per hour production b ...

"Surgical Notes a national provider of transcription services for ambulatory surgery centers has an immediate part time opening for a qualified QA/Proofer. The independent contractor position will be from 8:00 AM to 12:00 PM CST Monday through Friday. The pay is $17.00 per hour." It's not a bad offer, but considering taxes and insurance.... it's probably closer to 12 bucks an hour, not to mention the hours/days set. ...

Curious to know if anyone on this board is a statuatory employee with the company they are working for and outside of the company paying your SS tax and FWT, do you get any type of benefit, i.e., PTO, health, etc. Is it strictly just for tax purposes? Would you get a W2? Do you have to adhere to a schedule? I was a "stat" employee many years ago, when I first started and don't remember if it was just for the tax thing or if I got any benefit/s also. Thanks for any info. ...

8 to 8.5 cpl why in the world are MTSOs only offering 7 to 8.5 cpl for IC status? Don't they know the cpl is supposed to be higher for IC? ...

Many employers try to save money on taxes and escape liability under employment laws by getting employees to sign Independent Contractor Agreements. There are some advantages to being an independent contractor, but most people labeled as contractors are really employees. Here are the top 11 things you need to know before (or even after) you sign an Independent Contractor Agreement: 1. Intellectual property. If you are creating art, written work, computer programs or other creative w ...

I am assuming that the phrase "Employee Health" would be capitalized if the doctor says, " The patient is to return to Employee Health in 1 month, sooner if needed." Should it be capitalized? ...

Can someone please advise on this scenario? You are hired with a company to do specific jobs. For 9 months you work as hard as you can for this company, and then you are told you will need to do EVERY work type, even those you have absolutely NO experience doing. You are told 20 minutes before your shift that this is the case, and now all you are getting is not only work types you are not familiar with, but ESL doctors on top of that. Production PLUMMETS. Just deal with it?&n ...

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! ...

This post is not what you probably thought it was going to be. I am not going to list the pros and cons of being an IC or am employee. It appears that MTSOs are "fudging" on these two classifications of workers to get the advantages. For example, as an IC you make your own hours. There is no schedule; that is the nature of being an IC. Yet these MTSOs want you to work a set schedule. Another example: You are hired as an employee. Because you're an employee, you shoul ...

Here I sit waiting for work once again. So far since 9 pm, there has been nothing, not one dictation. So basically, I am watching tv and surfing the net in between checking the computer for work. I have 2 accounts too. That's what's so bad. Two accounts and no work. Hopefully, I can get a job at a local hospital soon. ...

You have successfully cut my pay over a dollar and a quarter. ALL YOU BOARD OF DIRECTORS have NOT cut your pay, but in fact have gone up in pay with bonuses totaling over over a 1 million and a half in pay. HOPE YOU ARE HAPPY AND HAVE A SOUND SLEEP DURING THE NIGHTS FOR DOING THIS!!! For this company, in years past, I have been called at all hours in the morning, 03:00 hours to type up YOUR STAT reports. Never called in sick and loved working for The MRC Group. Then you ...

Would anyone care to share their preference as to IC versus employee? I am curious as to which is best and thinking of switching to employee status. ...

Tax Deductions - Employee - Rachel

Suggest using a CPA, at least this year - see message

Tax deductions - gonesoon

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