7.8 as an IC

Posted By: Gr8tfulMT on 2008-02-25
In Reply to: Is it worth being an IC at 7.8 cpl? - NM

I am extremely underpaid as an IC (6.75 cpl) as a trade off to get back into the business. While I do get some perks such as not working weekends and a steady work load I also find that the things that bother me are far more annoying at a lower rate of pay. The rules keep changing and promises are made that are not kept and being paid in increments of a penny I find ridiculous. If you feel you are being underpaid it will probably lead to being dissatisfied with the company before long.

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Is it worth being an IC at 7.8 cpl? - NM
- NO! - XMQ
- MTs have been responsible for their own DEMISE. (sm) - chrissy
  - Me thinks you are way off base. - see message
- 7.8 as an IC - Gr8tfulMT
- What is your experience and knowledge worth? sm - MTIC24
- Try being IC, try being employee. Then decide - which is best for you. nm
- If below post was about that MTs experience as - IC, she had bad advice on what IC was about.
- what do you need to MAKE per hour? take that x 3 and that's your ans. (sm) - chrissy
  - Very good...very good answer. Right on the money! (nm) - elevalady
    - No, it's not. Poster says nothing about deduct. - and her tax estimates are WAY off. nm
      - I'm repeating what my accountant told me. Go argue w/him I guess. - chrissy
        And you would have paid that much as an employee - Patti
        Not all accounts are good accounts. One - problem is your "piddly little deduct." SM
        good for you - chrissy
        Yes, good for her!! - sm
        Only 50%, 1/2 of SS is deductible - Patti
        The BTK killer was also respected member of - his community. Doesn't mean a whole lot. nm
        What may be drawback to U, others see as - advantage. Just matter of what U want for U.
  - What ungodly taxes? And what overhead? - SM
  - You have those if you are an employee - Patti
    - hidden costs by being an IC - chrissy
      - Sorry disagree - Patti
        I agree with Patti...sm - Diana
        So true. Agree to each his own but benefits of - IC so great, dont know why others deny it. nm
        Envy? Bitterness? Can't hang with the big dogs? - sm
        What??? This makes no sense. - nm
      - The match that employer would pay just 7.xx%. - What you pay for own insurance is write-off.
- Bottom line, if your time is adequately - compensated by size of paycheck, is worth it.
- You don't give enough information for ANYONE to answer this post intelligently. - sm
- You have to decide that for yourself. Write-offs, - time flexibility, being own boss,what is worth?

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