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1099 versus W2

Posted By: Snow Bunny on 2009-02-09
In Reply to: New to IC status and question about taxes sm - Amanda

An IC receives a 1099. You will see your total earnings under the section called Non-employee Compensation.

I totally agree with the other poster who said you should see a tax specialist, and I don't mean H&R Block. Ask friends and family who they would recommend. Don't just choose someone out of the phone book.

I'm also recommending that you get into the habit of deducting the money to pay your taxes with every single check you receive, unless you're really good with leaving your money alone (no matter what) and can pay your taxes quarterly. Also, a lot of people have different recommendations on how much you should set aside for your taxes. It can be anywhere from 20% to 30%, depending upon where you live. Discuss this with your tax specialist.


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MDI versus MedScribe versus SoftScript versus Transsolutions versus TransHealth. SM

I'm getting ready to start applying and these are the companies that I'm looking at.  So give me the low-down.  Good, bad, India?


Here are my criteria:


9 cpl or better


Does NOT send work to India


Good accounts with at least 50/50 of ESL versus American dictators


Consistent work flow - no downtime or time spent waiting for work


Upper management should be professional, positive, and encouraging.


Pay for lines WITH spaces.


Is there such a job out there or am I just dreaming?  If there are other companies other than the ones I listed that would fit the bill, please feel free to let me know. I tested with TransHealth and I felt like I tanked.  It was a hard test and I had to use the mouse to stop and start the dictation as it was online test and you couldn't download the voice files.  So that made it a lot more difficult.  One of the dictators was cutting himself off through the report and I had to leave some blanks.  I'm very frustrated with this whole process of looking and testing.  Are all the tests like that?  Or are there companies that allow you download the test files and transcribe them using your pedal and software?  Ugh!  I am just so frustrated and discouraged.


Thanks for any helpf.


1099

You can file without a 1099 -- as long as you have invoices, etc. that you sent them or copies of checks that they paid, you just report that amount to the IRS.  You don't send in copies of the 1099 with your taxes you just report the income.  Sometimes companies do not send out 1099 and figure it is up to the IC's to keep track of and report their income.  But be sure you have copies of all invoices or billings to the company to verify what you got paid.   That is why, when an IC you should invoice or bill out what your services to the company so that YOU have a record of what you did for the company.  


no, you will get a 1099
x
1099
I emailed them and they told me they had some mixup and they hoped they would be sending them this week........
W2 -- 1099
is it focus informatics? Go to the job boards and get the email and send request. OR ggogle the business name and see what comes up and contact that way.
1099 no message
 
They do not have to send you a 1099 for what they did NOT pay you, However,
you still need to claim what you received regardless if they send you a 1099 or not and pay your taxes accordingly.  I would report them to the IRS in either case, because I am sure you have tried to receive your past compensation without much success.
Anyone rec'd 1099 from Sten-Tel yet?

Still waiting on mine.  This is from the Sten-Tel in Massachusetts. 


Also, anyone know if they are hiring?  I'm thinking about begging for my job back. 


thanks.


You'll get a 1099...

As a first-time IC, you may want to get some tax preparation help because you should have some write-offs that will most likely save you money.


Oh, yes, it turned out I didn't need the 1099 after all
Just as said above, when I didn't receive it my accountant just told me to get my own information together and then send the employer a letter telling them that this is how much I earned, this is how much I'm going to claim. I guess I was just letting the OP know that I knew the feeling of not getting a 1099.

To the other poster above, I did get out of there as soon as I could. It was a local MTSO and at that point I was new and even now I didn't want to work for the Nationals so I stayed. The pay was good and as an IC I made my own hours. The only problem basically was the 1099 situation.
1099 Form amount
Isn't the amount $600.00? If you make that amount or more then you must be sent a 1099 form? I do have records of all of my earnings that I made last year. I made a little over $3,000.00 with this company. It was not that much, but enough to report in.
Has anyone who worked for CorTmedical in 2006 gotten their 1099 yet?
I know that a lot of us were burned last year by this company.  I am wondering if they are going to at least send the 1099 for what they should have paid us.  I am wondering if they do not send it, how am I going to claim what they did not pay me as a loss?  Thanks to all, hope everyone has found something better since that disaster.   
Sudden change in 1099 status?
why would a company after YEARS of having IC's suddenly push everyone into an employee status?  Does this have anything to do with trying to make the company less likely to be unionized???  Or is there something else entirely going on that Im missing all the way around?
Still have not received 1099 form from previous employer!

Am I not correct that employeers are supposed to send out 1099 forms by the 31st of January?  I quit a company back in May of 2007 and I still have not yet received a form.  I guess I should contact these people?  You would think they would have sent it to me by now!  It's frustrating having to contact old employers because you really do not want to have to be bothered by them anymore!


Agree with Patti. MTOS sends 1099 as courtesy,
x
CorTmedical MTs; Have any of you gotten your 1099 from CorTmedical for last year?
I know that a lot of us were burned last year by this company.  I am wondering if they are going to at least send the 1099 for what they should have paid us.  I am wondering if they do not send it, how am I going to claim what they did not pay me as a loss?  Thanks to all, hope everyone has found something better since that disaster.   
MQ versus others
Neither do I......
SE versus IC
I thought they were the same, so I guess I am the one with the missing brain cell!
IC versus SE

I know the SS differences between the 2 but can anyone tell me is there any real advantage of being an SE versus an IC?  Why did MQ do away with SE?  Do you think this will be growing trend with companies?


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Take the R.N. course. I wish I had taken it at an earlier age. You will have a job that you can depend on with good salary. Don't make the same mistake I made.

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SE versus IC - sm
If you got 8 cents as an SE, what do you think this would calculate to in line rate as an IC - 9 cents?  By this, I mean SE helps with your taxes but by how much would you estimate?  Anyone know? 
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I was just offered a QA position.  If I accept the position, it will be my first QA job.  According to my calculations, I would only make about a dollar more an hour on average by staying a production MT than I would as QA with this particular company, who pays their QA staff by the hour.  I am wondering, is being offered QA anything like a promotion in the industry, or is it more of a lateral move/matter of preference?  Would love to hear opinions on pros and cons of QA  Thanks!


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Would appreciate clarification - Are these the same company, the one located in Gaithersburg, Maryland? Thanks in advance.
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Thank you for your response. Do you happen to know if the one in Maryland is the one that people generally refer to as a good company to work for and one that and does not send work out of the US?
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SE versus IC. I know there is s simple

but I'm a math retard.  If an SE made 10 cpl and an IC also made 10 cpl, and everything else were equal, then the SE is actually making more because half of the 15% social security tax is paid by the employer.  So the SE makes 7.5% more than the IC, correct?


Now here's where I'm a math retard.  If you take that 7.5% into account, what is the SE's *real* line rate?  Sure, it's still cpl but when you figure the employer is paying 7.5% of the taxes then does that make the line rate actually more like 10.75 cpl?  Or am I off on my math?


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I have to agree with you that job hopping can look unprofessional. I have a bit of dilemma though: I am on my second job and either I stay and continue to be unhappy or risk a third try that may put me in a similar/worse situation. Here's the kicker though - My problem is not the company...it is my coworkers. I am discouraged by a lot of my fellow MTs' work ethic and the every-man-for-himself attitude. I don't mind sharing my normals with everyone. If it means they are more productive, helps them get more lines in and our account is in turn, why wouldn't I want to share? We have all been new to an account...why not be helpful and supportive? Here is the resume I would love to send out:

MT with 3 years experience in acute care; ESLs not a problem; reliable, will work the schedule YOU need, will be on time and stay for entire shift(imagine that); no children to bring to doctor/football practice/exhusbands house/school play; actually does research, has an extensive library of research books, and does not just toss a job to Quality dept for them to finish; NEVER cherrypicks or skips jobs; will not poach, working outside my schedule trying to get extra lines to pay for Xmas/kids braces/second mortgage, taking work from others; does not mind working over/extra when needed; does not have a endless stream of mysterious health problems - in fact, has only called in sick once in 3 years; recognizes the Quality department's value and that they are an essential part of the job I do; does not whine about hard dictators/OPS/ESLs/short reports/long reports; have taken Anatomy and Physiology courses in addition to initial training and still taking continuing education courses; sitting for CMT next month; helpful and supportive of my TEAM (for those of you who do not know, that is my coworkers and my employer); does not have constant, vague-sounding internet/phone/electricity problems that prevent me from working.

Here's a thought (not for the original poster, but for those the shoe fits) - how about thinking about what you have to offer a company instead of what you can get out of them? What do you bring to the table? Selfishness? Laziness? A baby hanging off of your hip, a slew of pathetic excuses, and a victim's attitude? No wonder you are not happy anywhere...you get what you give.

I will not send out that resume, obviously. Why? Because those types of MTs are everywhere. I cannot hope to find a place where none of that exists, not with the pool MTSOs have to pull from. Plus, it is not professional. The reason I did it here was to illustrate a point. People do not always job hop with the hope of improving their situation, many do it for bonuses or to find a place where they get the most and can do the least.

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IC versus employee

This is a muliple-part question--hoping someone here can help with some or all of them! 


1.  Does anyone have experience working for Shriners' Children's Hospital inhouse in Norcross, GA?  Many ESLs, how are working conditions, etc?


2.  I've been recently sent home from my small office practice (didn't volunteer!) and changed from transcription/med records clerk employee to IC; lost benefits. I think a little further on I'll have to get another inhouse job--remains to be seen if I can afford to live on this reduced income.  Does anyone have solutions regarding health insurance for self-employed, single people?  In my state an individual BCBS premium for someone my age is $300.00/month w/$250.00 deductible. (Yikes!)


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Thanks for reading thus far--will appreciate your suggestions or input!


 


 


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Hi.  There used to be a lot of negative posts on here about OSi.  What are you guys' current opinion on it?


Here's what I'm really contemplating:  contacting DeVenture, who had offered me a job at around the same time that OSi did.  Here's why:  I got put in a program that would advance me to acute care kind of transcription.  It did, but now I have to type for about 10 hospitals, thus I never can get good--or a good line count--at any ONE hospital's transcription.  So--my cents-per-line rate in theory has gone up but there's no way I can make the kind of line counts I made when I was just doing clinic transcription.


Theoretically, I have a primary account, but there is never enough work on it.  That's why I get work from 9 other difficult accounts instead.


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To sm re: MDI versus Keystrokes
Would you please answer a few more questions if you don't mind?
1. Please explain what you mean by Keystrokes convoluted pay scale? (They offered me 8 cpl to start, minimum 1200 lines per day. I was told OT they do not want you working OT unless requested. No line incentive.)
2. Regarding MDI, I don't want to work weekends but was told you could work the minimum (700 lines) on your weekend day and that didn't seem to bad (a few hours of work and it's done). Does that seem realistic?
3. If you need to go away for a weekend or something comes up and you cannot work the weekend day you are scheduled, does MDI allow you to take it off, as long as you let them know in advance? Can you switch a Saturday with a Sunday if necessary? Do they hassle you or expect you to make up the lines during the week? I hate to think that I can never make weekend plans. It doesn't happen often but it would be nice to know you can.
4. How is MDI about taking time off for vacation, or if you need a sick day? I'm rarely sick but want to know what to expect.
5. I was told that generally, you can work as much as you want (although you do not get overtime), and that they do not restrict work. Do you agree?

Thanks in advance for anything you can tell me with regard to the above.


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