re PTO taxes, breaks - mouse
Posted: Jul 03, 2012
ok here's the dirt from payroll. If you are paid a lump sum such as PTO, the IRS considers it "supplemental" and taxes it at 25%! So, if you're considering leaving, best to take all the PTO you have before. Wish I would have known that before. As far as paid breaks, I didn't realize it was "state" dependent...so thanks for that information. Cudos for KY this time requiring a break after 4 hours. Either way, it would not have mattered to me as I took a break whenever I felt the need to even before KY put to that into effect. Even if Vern himself told me to clock out to use the restroom or take a phone call, that wasn't ever going to happen.
I, too, lost a big chunk of my PTO pay when I - quit.
[ In Reply To ..]
I would have to look but I think it was more than 25%. It was way more than they take out of a paycheck. I just figured it was one last way to scr#@ me.
re PTO taxes, breaks - mouse - FriendlyMT
[ In Reply To ..]
One thing you may find helpful. My previous manager informed me upon departure from employment --- with lots of PTO to be paid out on the last paycheck, change your federal and state withholding to 8 dependents. I did this at least a month before leaving and the taxes were the most minimal. It worked.
friendly - mouse
[ In Reply To ..]
omg lol that is too funny!Thanks for the tip but I am already a "former" MM MT. I only had 13 hours PTO which I got darn little of by the time all the taxes came out. But thanks for that info...will keep that in mind for future use.
Similar Messages:
MT Subcontractor - Have To Pay Self-employment Taxes In Addition To Federal Income Taxes? Jun 18, 2011As a subcontractor performing medical transcription, do I have to pay self-employment taxes in addition to Federal Income Taxes? ...
Anyone Ever Pay Monthly Taxes For Taxes Owed May 12, 2014I owed a bit of money for last years taxes, which I do not have so am making monthly payments. I sent in the form to request to pay monthly, but have not heard anything back. Has anyone done this and is this unusual (that I have not heard back anything)? I was reading all these websites and they were saying just keep mailing in what you can each month until it's paid off and then you might owe penalties, which I understand. It stinks, but right now I have more bills ...
HOW OFTEN DO YOU TAKE BREAKS? Nov 10, 2009When you guys type how often do you take breaks? Do you find that if you take frequent breaks - say every hour or hour and a half for about 5 minutes that you are more productive? Or do you sit and type for more than 2 hours straight without stopping? Just wondering how often others take breaks. This was also one of the "tips" given by the top producers of the company according to MQ. They claimed these folks took frequent breaks but went hard at it for an hour or s ...
Sentence Breaks Nov 12, 2009Hello to all MT posters-
- Am wondering about tips about sentence breaks and comma use. Any advice/guidelines when the doctor is running fast and sentence breaks and paragraphing don't seem obvious?
-Thanks to the MT's that give advise in a professional manner. So many of the newbie posts hit right at home.
-Still waiting for my AIM internship to start. Has anyone interned with AIM?
Diane
...
Regarding Breaks In Certain States Nov 14, 2009I lost the email, but supposedly I get a 10-minute break after 4 hours. Do I clock out of DQS but stay clocked on at ScheduleSource or do I stay logged onto both and walk away from the computer for 10 minutes? Does it show up on the time card or only on the pay stub. Does anyone know the details?
Thank you. ...
Bathroom Breaks, Etc. May 13, 2015I have recently stopped punching in and out for bathroom breaks, coffee, stretching, etc., because in the work place no one has to punch out to use the bathroom, etc. I feel this is very unfair to expect us to punch in and out to use the bathroom. Anyone else? ...
Rest Breaks May 15, 2015Does M*Modal pay for rest breaks? ...
Paid Breaks May 27, 2015Has anyone every received an employee handbook? I found this quite interesting, especially the part about state compliance with paid breaks. I am sure the labor commissioner is going to love that sentence stating taking breaks may affect your MUP/benefit eligibility/weekly hour requirements. How are they going to explain how this is a paid break?
"MEALS/REST BREAKS
Employees that are scheduled to work more than six consecutive hours are entitled to two 15 minute paid break periods and ...
Tax Breaks For Companies That OFFSHORE! Jan 28, 2010Anybody rejoicing over the fact that we may be finally stopping the offshoring of jobs overseas? I think we should have a party! ...
MQ, Federal Government And Tax Breaks Mar 13, 2010After seeing CBay's lovely employee website extolling the awards they will bestoweth upon any Indian who works for them, I was wondering.
Looking at the the enless football field size rooms of computers, (many, many, many computers), desks, chairs, headphones, the brand-new buildings themselves, the exercise room with top notch expensive exericise equipment, the yoga teacher, the buses used to transport them to and from work, the workers hired to drive those buses, the free medi ...
Paid Lunch Breaks Dec 27, 2012In the training, it said that we get 2 paid 15 minutes breaks in a 6 hour shift. How is that figured? It is automatic? ...
Paid 0.25 Hour Breaks X2? Jul 11, 2013In my state, there are supposed to be 2 paid 15-minute breaks if one works 8 hours. I questioned my company HR about this and was told "there was a slight amount added to our line rate" to cover this. What?? how is that a break. I am wondering:
1. How many companies do this?
2. Do any pay for the 15-minute break?
3. How many states honor this? (check with your state Labor Relations Board). ? ]
4. Is there a legal ...
California Paid Breaks Apr 09, 2015California is one of the few states that require paid breaks. The way Nuance ignores this is illegal. Does anyone have any experience with pushing this issue? ...
Has Anyone Got An Answer On How To Document Breaks? Jun 22, 2015.. ...
When Clocking Out For Breaks, How Do You Make Up Time? Oct 21, 2013If I clock out to go to the bathroom, how do I make up the time and stay within my "scheduled hours"? Just wondering how everyone else works this out. Apparently, they no have a perfomance checker to correlate when clocked in and actually on what you are doing in DQM now. Also, does anyone know how to check the time worked in DQM? ...
There Was Talk Of CA Employees Not Getting Paid Breaks. May 13, 2015Has anyone filed a wage claim yet? Just curious how that is going. ...
IC/Taxes Jan 03, 2010I worked as an independent contractor for the first 5-1/2 months of 2009, but when reading the IRS definition of independent contractor, I realize that description did not fit my position. Will I still need to pay self-employment tax? ...
IC Taxes And HELP May 19, 2010Hi, Just accepted an IC position from a private individual. I now have to deal with estimated taxes,, been a long time so I have questions. Pretty basic, been reading,, I will not recieve a check prior to May 31, so I will be doing ET for the first time September 15, 2010. How do I calculate how much to send? I have heard that IC should have a separate checking account and make the deposit in there of the IC check and "pay" myself from there? Any thoughts, advice, s ...
Do Taxes Yourself? Jan 26, 2011I would like input on whether you do your taxes yourself or take them to a professional? I had a local accounting firm do mine for a few years and now they are just H&R Block and the rate I pay keeps going up. I have looked at a few do your taxes online yourself and H&R seems to be reasonable online (half of what the place charges). Who does their taxes themselves and what is your experience with it? Thanks for any help or advice you can give. ...
Taxes!!! Jun 14, 2011I am an IC and am being choked by self-employment taxes. It seems like I work to pay the taxes. Anyone have any tax advice? Does anyone else feel this way? ...
IC Taxes Jun 13, 2012I have been an employee since the start of my career and never had to worry about taxes. For some time I have been entertaining the thought of taking an IC position on the side, but then I was told that as a self-employed person I would be carrying 35% tax liability. That scared me out of my wits. I am sure this does not apply literally, but I want to know how things would pan out for an IC who earns $45,000 in a calendar year. How would you break things up as expenses in ...
W2 For Taxes Jan 22, 2015For those of us lucky enough to be away from this horrible company does anyone know when we can expect to get our W2 forms? ...
Wow, First Taxes And Now Work? Nov 09, 2009I received a message today while filling out an application with Encompass stating, "Unfortunately, we are unable to offer employment to residents in your area at this time due to the high cost of doing business in your state. We apologize for any inconvenience." I live in Upstate NY. The property taxes are a killer but to be denied work because cost of living is unaffordable? ...
Regarding Post Below About Not Enough Fed Taxes Jan 28, 2010out, see your federal tax booklet, Schedule M, Making Work Pay. This should help you in not having to pay as much in to the IRS. HTH ...
Question Regarding Taxes Jan 14, 2011If you work out of your house as a ful-time employee, can you still have tax write offs like you are an I/C?
TIA ...
Local Taxes Feb 24, 2011Did I miss something? I noticed on my paystubs that Medquist/Ultipro is now taking off my local taxes. Did we get an email about this? I always had to estimate my local taxes before. ...
Question Regarding Taxes For IC Mar 19, 2012Last year I purchased a laptop for work. It's only used for work and nothing else. I'm reading all the forms and directions, but not understanding where I record it. I think it's too high cost for just office supplies, so started reading about form 4562 - Depreciation, but that it totally confusing. Has anyone ever listed a computer? If so would you let me know where I need to put the info.
Tx - kd ...
IC Taxes - Kansas. Sm Mar 28, 2012I just switched to an IC position on January 1, and I'm trying to figure out how much I'm going to need to pay April 15. I've always been an employee in the past. I plan to talk to my accountant, but I'm trying to figure out a ballpark amount to make sure I've held back enough. Is the added 7.65% just paid to the IRS, or do we need to pay extra to the state as well (Kansas) in addition to amount I will already pay them? Thanks for any help. ...
Do You Have To Pay Self-employment Taxes? Apr 23, 2012If you are an independent contractor, do you have to pay self-employment taxes? ...
W-2's From M*Modal For Our Taxes... Jan 16, 2013Has anyone received their W-2 from M*Modal yet, by any chance?
I started 2012 as an employee of DSG, woke up one day to find out I was an M*Modal employee, and took two days to decide to decline the M*Modal job. So, I worked just over a month with DSG in 2012 and less than a week with M*Modal. M*Modal has my mailing address since they mailed me my final paycheck and letter confirming my termination of the job. At some point after DSG was sold to M*Modal, I tried to acce ...