A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Tax Deductions for "Employees" - Coquita
Posted: Sep 07, 2012
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?
MY SIL situation. Talked to tax guy, she said few deductions, - wasnt worth the hassle. nm
[ In Reply To ..]
x
This is why I keep a little IC job on the side, for those - deductions. nm
[ In Reply To ..]
s
What you spend specifically for work (whether in-house or at home) can be deducted, if - tmt
[ In Reply To ..]
what you spent that year totaled, I think, 5% of your gross income. This would include reference materials, keyboards, mice, wrist rests, monitor risers, headphones, cables/cords, desk, chair, software, computer/monitor, post-its, printer paper and ink (if you're having to print employee handbooks and other company documents), and whatever else you use specifically and solely for work.
and if you are an employee, most of that sort... - anon
[ In Reply To ..]
of thing does not add up to more than 5% of your income.
Similar Messages:
Home Office Deductions For Employees Nov 18, 2009I 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 ...
QA Deductions Dec 09, 2012I 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! ...
IC Status And Deductions May 25, 2010I 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! ...
Still Confused About Tax Deductions. Nov 20, 2011OK....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 ...
Line Deductions Dec 15, 2011Lines 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 Deductions - Employee Feb 15, 2015This is the first year I need to file as an employee rather than contractor. Can we deduct everything that is "non-reimbursed employee expense" as we did as contractors, i.e. internet access, computer, etc and portion of home used for home office? ...
Home Office Tax Deductions Sep 26, 2012Tax 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). ...
Anyone Else Not Able To Make A Paycheck With Insurance Deductions? Nov 17, 2012Since 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 ...
OMG How Funny - Read Glassdoor Opinion Of Employees, US Versus Indian Employees! Aug 05, 2013I was just curious about what employees thought of Nuance on Glassdoor. You read several US employee opinions and they reflect the morale listed on MTStars. Scroll further down and read the opinions of the transcriptionists from India. What a difference. They are highly satisfied with their jobs and most have been working with Nuance for 6 to 7 years. The US transcriptionists are very sad!! What a difference..... ...
DSG Employees: Dec 22, 2009Did they send out gift cards this year?
...
Former TRS Employees Jan 26, 2010Has anyone received a W2 form from the former TRS? I received one from Transcend but evidently we will receive another one from TRS? ...
To Other New MQ Employees: I'd Like To Know What Apr 13, 2011sort of things you're getting QA'd for, to compare notes. For instance, I'm new to VS, and I tend to leave in double words. I think what's happening is that I hear it, so my mind just blocks out the extra one and I don't see it. I spend a lot of energy trying to out-guess the QA, but no matter what I put in certain instances, I'm marked off. If I put "The patient," then she fills in the name. If I put the name, then she puts "The patien ...
For Those Of You (employees, Not IC) Jun 02, 2011I'd like to know how you are all dealing with it. Do you sit and wait on work during your scheduled shifts without getting paid? Have any of you filed for unemployment due to lack of work? I wonder how people manage to pay for insurance, etc. Have any of you quit your jobs and received unemployment? How do you all manage? TIA for any information you are willing to share. ...
Do You MQ Employees Sometimes Think Aug 17, 2011Someone jumps on this board, fires it all up by saying to use F11 for every ASR job, and then calls their CCM to say "read the MTstars board" and then they go check who is doing it and fires them, all the while the pot-stirrer looks all cutsie in the CCMs eyes and more work opens up for the pot-stirrer?Maybe it is my wild imagination, but it seems like all that "stop typing for a day" and if that does not work, then "stop typing for 2 days," and "use F11 for all ASR jobs," all feels so not ...
Any RAD MQ Employees? Aug 18, 2011How is your workload going? I know there are a lot of acute care people who run out of work a lot, or get thrown in the cesspool, but what about the radiology side? Does that run out all the time too? I was there for Rad and was considering going back because I need a job. I know the pay is not what I made there before. ...
Former MDI-MD Employees, Got A ???? Oct 20, 2011Anybody on here former employees of MDI-MD who stayed with Transcend? I have applied and am trying to find my former supervisor's email. She was MDI-MD and as far as I know, stayed with Transcend. Her initials are MM. Please email me if you have her contact info. I cannot find her email anywhere and would love to work under her again if she is still there. Thanks! ...
To DSG Employees/ICs Feb 06, 2012In case you weren't there at the beginning of Monday's conference call, MQ bought out M-Modal and changed their name. SO, if you choose to do this, you would be working for MQ. Been there, done that.....aaack. ...
TTS Employees May 27, 2015Have interview with TTS, any comments on this company??? Likes/dislikes, pay ...
Any ETransPlus Employees? Nov 11, 2009Wondering if anyone has any info on this company - good or bad feedback is welcomed. Thanks! ...
Third Shift Employees Feb 16, 2010As I am getting no work during the day shift anymore, I have the chance to go third shift Sun-Thursday (11-7), either that or find a new job (yeh right), or do ASR (done it at this company, no thanks to returning there). I have never worked that one before. How/when do you sleep? Any other pros/cons about this shift? Thaniks your your advice. ...
How Many U.S. Employees Are There For Medquist? Mar 02, 2010.. ...
Statutory Employees Mar 25, 2010Could someone explain exactly what a company can require of an SE? Can companies force MTs to adhere to a schedule if all MTs are statutory employees? All the research I have done on this subject is vague, but it appears that SE and IC are almost the same with the exception of Social Security and Medicare being withheld and the employer's portion being paid for an SE. ...
Any Smartmed Employees Here? May 06, 2010Wondering what everyone is thinking about the no work again and NO other accounts to work on. ...
DSG. Statutory Employees May 25, 2010I'm considering applying with DSG for a statutory positon. Does anyone know what they're like to work for? I'm wondering about rate of pay, availability of work, percentage of ESL, etc. Thanks. ...
Spheris Employees Jun 18, 2010curious if you are still working your regular accounts? Is everything they promised actually working out?
I ask because I am now working on a Spheris account when I run out of work on my 5 other "primaries";) ...
Former MDI/Transcend Employees Jun 25, 2010Just out of curiosity, does anybody have any idea how many people have parted ways with Transcend in the last several weeks that had been with the company for more than four or five years? I know I am one of them but was just curious how extensive it might be. ...
Production Employees (not IC's): How Much Jul 13, 2010The compensation structure and "minimum" hourly or daily production expectations often encourage people in our industry to work unreported hours in order to meet minimums. You have a day when you get a rash of the account's most trying dictators, for instance, and at the end of 8 hours you realize that you haven't met minimums...so you work another hour, while reporting only the 8 hours.
Transcription companies are, of course, aware of this dirty little secret and do nothing abo ...
Former DRC/Acusis Employees Jul 18, 2010Last year, there were some changes made at Acusis and a group of MTs left at that time. I was wondering if any of these MTs found a "new home" they are happy with. I felt DRC was very good to its MTs and wonder if there are other "jewels" like it was out there. ...
QUESTION FOR MQ EMPLOYEES Jul 23, 2010Is there anyone that likes their job at MQ? Specifically, any radiology MTs who are happy there? Just want to know before I take any potential leaps I may strongly regret in the future. Thanks! ...
Former Spheris Employees? Nov 29, 2010hi guys, i was just wondering if anyone on here worked @ spheris and now is with medquist? is it better. how are the hours now as opposed to w/spheris. i'm thinking of applying with medquist and was wondering if i should or get a new career LOL thanks for any info ...