Statutory versus employee
Posted By: Stargazer on 2009-06-20
In Reply to:
Are there any advantages to being statutory versus an employee? Anyone out there working statutory who can help? Thanks!
Complete Discussion Below:  marks the location of current message within thread
The messages you are viewing
are archived/old.
To view latest messages and participate in discussions, select
the boards given in left menu
Other related messages found in our database
SE as in statutory employee at MQ nm
Statutory employee s/m
was statutory for years until MQ made us all go to regular employee status. The one thing I loved about this job was freedom and they really took that away when they set us up as regular employees.
I just took another job as a statutory employee and am working out my notice with MQ. Love, love, love it. Statutory is the best of both worlds for me since I don't need bennies. The PTO was nice, but the freedom is worth so much more.
means statutory employee...
The link someone gave above has a section on statutory employee (SE) but are still independent contractors
Doh! I thought SE was statutory employee. Sorry! NM
x
What are the benefits of working as a statutory employee?
x
Statutory Employee vs. Independent contractor
I work for company "A" as an IC. I work on Dictaphone ichart platform. I make 9 cents a line. Good accounts. Good managers. I have been offered a job as a statutory employee with company B, still on dictaphone, still 9 cents a line. Is justifiable to make a lateral move to company B just for the sake of being an employee? Tell me pros and cons please! Thank you!
too many variants. are you employee or statutory? what office? what reports?
not my office. you have to work so many weekend hours per pay period but you can choose the hours.
You an IC, statutory employee or employee?
That designation, and/or forcing the IRS to designate you, can make a diff. Are you a corporation? Partnership? You need WAY more help than we can give you.
Question about SS - I am statutory employee and my employer withholds 7.5% for Social Securty - sm
I have only been a statutory employee for a couple of months (I was an employee with benefits with my prior company). My employer withholds 7.5% or "half" of the Social Security/Medicare 15% and I was told that will need to pay the other 7.5%. How does that work? Thanks in advance!
Can a statutory employee draw unemployment if terminated from job due to restructuring of company?
nm
IC versus employee
 I have been an IC/MTSO both married and divorced for the past 15 years. I feel that I bring home "more" of a dollar than if I were making the same amount as an employee. I do have quite a few write offs as I do have a real "office" in the home, I take my depreciation on the house as I feel when and if I sell prior to dying, will deal with it then. I do deliver and pick up so have mileage. I save for my vacations and time off. I have the flexibility to take time off during the day if needed --work at night true but I CHOSE it not someone else. When married I just had my husband over withhold a little more and did not need to worry about the "tax bite" on April 15th. I planned and planned so I knew what he had to over withold. But again, when I make over $50K and end up paying SS on only $15K or so, it is well worth it to me. I did take a small "in-clinic" employee status this year to get out of the house as with no hubby - thank the Lord, and no kids it gets me out and I take out more of my taxes that way. But when I did not do that, I just took 5 to 10% out of each check and put it in a special account and it was more than enough to cover my taxes. Truly look at your paychecks as "employees" and see what you really bring home but everyone thinks that because your "employer" pays those taxes FOR you, you are not really paying them. So you just have to do the same. And you have to add the two salaries together even as an employee so that also hurts. But again, I feel being self employed or IC is the only way to go. Even when on vacation I stop in a local transcription company or a couple of clinics or hospital and talk to them about providing services so I can count part of it as a write off. Also look for seminars in cities you want to visit. I go to Vegas every year for the "electronic show" to see what is new for my company. Again, if you look carefully at deductions and plan, plan, plan it is better - at least to me - financially to be an IC. Patti -- e-mail me if you wish
IC versus employee...
Am thinking about going from employee to IC - what is involved with being an IC? Taxes, etc...would appreciate any advice from IC's. TIA
8 cpl IC versus employee
No I mean money wise what is the difference once you take out the taxes. 8 cpl as an IC is less money than 8 cpl as an employee when the employee pays half your social security
IC versus employee
I was following you until you said "my regular scheduled hours". Um, if you are IC, you shouldn't have scheduled hours, only a set amount of production within a specified time period (say 2000 lines in 24 hours). I'd say you are already crossing that IRS rule of who has control without even considering the OT issue.
But, to answer your question, they can ask for help and you can say yes or no, but you are not under any obligation to do it. As the other poster did point out, preference might be given to someone else at a later time, but IMHO, not working "every weekend" is acceptable. You can give yourself permission to take some time off. No, they do not have to pay you overtime, but you could ask for incentive pay for the work you provide on days you are not already comitted to (they will probably tell you no).
IC versus Employee
I am trying to figure out if going from employee status to IC is worth it. Anyone have any opinions?
ic versus employee
Hate to burst your bubble to but you are better off with your own accounts. Most of the nationals out there want strict hours and a requirement of how many lines you are going to do. Some do pay a little extra for holidays and weekends but not always and most you will get stuck working on weekends as well.
ic versus employee
True definition straight from IRS is that they can make you commit to so many lines a day between so and so hours but if they say you have to do this many lines between this and this time than employee.
IC versus employee
Employee is definitely the way to go. I too was new a year ago and found a company paying .12 a line, .13 for nights. Taxes hit me really hard this year. I have to paid time off, no 401K, no sick days, no insurance. I would rather work for .10 a line and have benefits. No one should work for less than .10. I you ask me, experience transcriptionists should be making .15 a line.
I worked in Radiology and quit a job making almost $16.00/hr with six weeks paid time off after 29 years.
Now I make less, have no time off, no benefits and work harder with more hours as an IC and they don't offer employee status.
IC versus Employee??
Hey everyone. I just finished school and am doing the job search thing. Great fun right. javascript:editor_insertHTML('text',' ')
Anyhow, I know that I have a better shot of getting hired if I work IC but I don't know exactly what that would mean for me? Anybody have current info. on how it all works?
Thanks =0)
IC versus employee
I have to agree...it's very concerning how companies try to save $$ by hiring you as IC and not as an employee, yet try to exert much control over when and how you work. I don't think transcriptionists are aware enough of what/how much control a company can technically exert before they are really treating you like an employee and should be paying you as such. The IRS website discusses "behavioral control" and I would be willing that many transcription companies exert much behavioral control over the ICs, which would technically classify them as employees.
IC versus Employee status?
 I am just curious which you prefer, and why? I have never been an IC before and have just accepted an IC position and am a little nervous about it. I like some aspects of it, but some things have me a little concerned. I would just like to get a feel for what you think.
taxes ic versus employee
Don't really understand the $$ difference between being an IC and employee when it comes to taxes. If as an IC you get a check of $1000---and and as an employee your gross wage is $1000--what is the difference in the amount of taxes you pay as an IC versus as an employee? I have gotten the impression you pay a lot more as an IC...is this true? Can someone give me an idea of what the percentage or dollar amounts would be? thanks:)
Please respone IC versus Employee Status
Can the person who posted the site www.EFTPS.gov please reply to this...
My husband and I are "discussing" the ad/disadv between the two. I know you said IC all the way. Can you please tell me why IC is better? I would be gratefully honored! 
THANK YOU!!
IC versus employee, accounts, transcription type, platform,
nm
How are hiring companies getting away with trend towards IC versus employee status SM
after the lawsuit that determined that IC was indeed an employee because she was told when to work, what days of the week. The company got into trouble with employment laws because of this a few years back, yet I see most of the job postings on this and other sites are mostly IC.
65 character line versus gross lines versus pay by word
I am checking into other options for transcription. Can anyone tell me how to compare all of these types of lines & also payment per word? I know companies use different scales, so I wondered how they compare. I have been paid on a 65 character line with spaces, but I may be making a change in the future - don't want to get burned.
Thank you in advance!
Excuse me but federal taxes are paid as employee by employee
The ONLY difference in IC is you pay the ENTIRE amount of the SS which is the 15.25%, as an employee you only pay 7.75%. And you can easily make up that difference in deductions. As an employee you just have someone else manage your withholdings and as an IC you do it yourself. I have much more usable income being an IC and not an employee and I am strict about putting aside what I need to. But everyone always says you have to pay your own taxes, well your employer does not PAY them for you -- except 7.75% of SS, they merely withhold it for you. As an IC you are the employer.
Question versus gross lines versus 65-character lines....
I have always charged or been paid by 65 or 60 character lines or per letter or space typed, but have never been paid or charged per gross line.
What is the advantage of this? If I were to charge 11 cents per 65-character line including spaces, what does this figure out to for an average line rate and how do you do this calculation?
I'm wondering if it is financially beneficial for me to bill by gross line or to keep it the way I have it. I do know some accounts will only pay per 65-character line, as this was the deal my first own account I recently acquired. They were adamant on a 65-character line, but didn't specify with or without spaces and I personally would never not charge for spaces.
Thanks for explaining this. I appreciate it and hope everyone has a speedy day.
statutory
I know this has been asked before, but could someone please tell me the difference between statutory employee and just employee? TIA
statutory vs IC SM
Thanks for clearing that up, all this time I'm statutory and thought I was IC. So does that mean I could apply for partial unemployment??
statutory vs. IC sm
So if companies cannot dictate schedules to an IC, what about statutory employees? I haven't discussed any of this with my company in 5-7 years!! Now they suddenly need an update, wherein they want to demand a set schedule....
Statutory employees too?
Is the new pay plan for statutory/IC employees too? Cant you only switch to full time employee status twice a year, I think May and October or November.
statutory employees - MQ
When you have to take off, do you call in sick like you would a regular job? In the past, I have and they have been quite unreasonable if I needed to take a day off for sick or personal reasons. What upsets me is when there is no work, Im stuck, no work, oh well, but when I need to take off, I better be there, I better work or they have been quite nasty with me..What has been others response? What have others done when they needed to take off? Thanks for your response!
time off statutory
As they are quick to point out, as statutory you are NOT an employee and do not have empolyee benefits; they can't have it both ways, if you are IC and want to take off they really don't have a right to say anything; offices differ, but that's the bottom line.
Statutory status
When I worked statutory, they took out Federal, SS, and Medicare.
Any statutory employees out there?
I'll be starting a new job soon with a service as a statutory employee. I want to get on top of my tax situation now so that come April I won't get hit with a big bill from the tax man.
Any suggestions/guidelines for how much of each of my checks I should be setting aside for taxes? I know that my employer will be paying 1/2 of my Social Security taxes. What about the rest?
Thanks in advance for your help.
statutory status
I sent you an email.
Statutory, I guess
PT, no benefits, no paid vacation/holidays, etc. The only thing they do is withhold my state/fed taxes. I work hours and days specified by them.
Statutory status question....sm
if you are statutory status they take out federal, but not state taxes, is that correct? What about SS? Thinking of taking a job on statutory status. Thanks.
Statutory MT/Independent contractor
Does anybody know of companies that still hire Statutory or independent contractors? Since I take the standard deduction on my personal taxes I can no longer deduct my MT expenses and that's a major ouch. Thanks for any help.
question for statutory workers
What percentage would you recommend setting aside from each check to cover your taxes? thanks.
Does MQ have STATUTORY EMPLOYEEs anymore under new plan????
It does not mention statutory anything in my letter dated 9/2/05.
I see "newly defined FT employee classification w/flexible...
I see New Part-Time employee classification w/flexible ...
I see Opportunity for PTO for part-time employees and increased PTO of up to ....
but I don't see nuttin about STATUTORY EMPLOYEES.......Statutory is not part-time
I only work part time statutory and
full time with another company, I have a little bit extra withheld from my FT job each paycheck. I try to save 30% of my SE job pay to have on hand when tax time comes, even though I don't need that much, it covers me for everything plus after tax time I still have money in savings. It does depend a lot on your life though, what deductions you have, what tax bracket, etc. I am single with no kids, so I wind up in a higher tax bracket, therefore feel comfortable only when I save more.
Question for you Statutory Employees about retirement?
Any of you who work as an SE, have you ever looked in to an SEP IRA or an individual 401K for funding a retirement plan? I was just wondering if this is allowed, since the income is considered self employment income, but I have searched on the Internet and can't find anything to tell how the laws specifically apply to SE's. I know if I was an IC there would be no question. I already have a Roth IRA but the limit for that or a regular IRA is $4000 a year and that is not enough IMO for retirement, would love to be able to save some of my SE income tax-deferred. I'm going to ask my accountant about it but figured out of courtesy I would wait til after the tax filing season winds down. Just curious if any of you could help out in the meantime?? TIA.
Did you get the email this morning about the new pay plan for statutory employees. What is your
feeling. I know I cant struggle any longer or harder for money anymore. I agree. I am in all these different accounts to make lines, being QA'd on all of them and I just cant do anymore than what I am doing now so I am not sure what step to take next. I guess just wait and see what happens with the new pay plan. I hope that is not why they are hiring so many people because of concerns of a lot of people leaving because of it. Have you heard of more accounts being lost. I wonder where all these accounts are going.
What companies other than MQ hire statutory employees and are they hiring now.
:
Did everyone get that email from Frank L. about the new pay plan coming out for statutory employees
this morning. Does anyone have any idea what this is going to be. I hope I dont lose money after all the years with MQ but we shall see.
On this new MQ rewards plan what exactly is it offering statutory employees and I suppose that that
is going to be the end of our quarterly bonus. My concern still is if there is no work how do you get any incentive if they lower the base rate. Sounds like employees will have a larger window to get their work done which means we all will be scrambling around for work at all hours.
If you are employee, unless suit against your employee
otherwise the posts on here as far as I can see telling it like it is. I think a lot of the posts are so young they just don’t have a clue as to what it means to be an employee. You do as your employee wants (I am talking reason now, not stupidity as far as sexual advances, etc) or else you find another company that fits your personality better. You do not confront, you do not tell your employee no, that is their job, not yours. This is such a simple thing for people who have been in the work force for any period of time.
full time, part time, statutory
newly defined full time...
newly defined part time....(which is an added classification)
I believe statutory just was not mentioned because there is nothing new about the definition of statutory.
|
