$600/year!! I would LOVE to pay 600/year -
Posted By: mtbe on 2005-12-08
In Reply to: I've been an IC for five years and never had to pay more than $600 one time a year for taxes... - AzMT
I end up paying in $2000+/year EVEN WITH MY DEDUCTIONS, and I deduct anything and everything!! My accountant keeps telling me to buy a house or have a baby and then I wouldn't pay in so much.
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
It is a year old. n/m
n/m
It was quite awhile ago...maybe about a year or so.
nm
How to ask for a raise? 7 cpl for one year now...
Are raises given?
To make 40K per year,
You have to make roughly $20./hr for a 40-hour week (if my math skills are any good!). To do that, you need to either make a higher line rate, or produce more lines per hour. That means doubling either your lines per day or your cents per line.
I would venture a guess that most folks making 40K a year do NOT work for nationals, but have their own accounts which tend to pay more per line, which ups the $ per hour. Of course, with that comes a whole new set of headaches and probably more incidental hours (billing, delivering, bookkeeping...time spent maintaining an account in addition to transcribing hours.)
Unfortunately, by the time we see ads everywhere for big money opportunities (transcription, selling on ebay, raising alpacas, etc.) the prime time to get involved has probably already passed, and then folks who respond are stuck with disillusionment and bills for starting costs/prep.
Just my humble (and maybe a bit pessimistic) opinion.
You don't even have to buy the upgrades every year, just
add to it. I only update every other year.
transcriptionist with 1 year's exp
I think Spheris has a program to do that.
Happy New Year Everyone!
I hope everyone has a very excellent 2009, with all good things!
I made 7.75 with MedQuist my first year.
I started out with Medquist making 7.75 based on my all-around experience and test scores I was told. That was PTE.
I went on to make 8 as an employee, and I work a second IC job making 16, 13 to start, 16 after 90 days.
putting 3-year-old in daycare
I have finally relented and put my baby in daycare. I can't do it anymore. I am so stressed out about splitting my time between her and work that both are suffering from it. Not to mention my house. The husband is worried becuase this is now an added expense to our already tight budget, but as I explained to him, now I can focus on my line count and I won't be getting up every two minutes to tend to her. Any of you been in the same situation? I'd like to hear about it, good or bad.
first year as IC, you don't have to make payments...sm
you could pay all of 2006 taxes by April 15, 2007. But in 2007, the IRS will send you forms that you use to pay quarterly. You pay 100% of last year's taxes in 4 equal payments and then make up the difference when you do your taxes. For example, you started as an IC in 2006. Your taxes were $2000. You pay $2000 by April 15 2007 and you also pay your first quarterly payment of $500 (1/4 of $2000) by April 15. I also would suggest you make all your payments in the current year - don't pay the last quarter by January 15 when it is due because it screws up your bookkeeping and state and feds handle it different. Pay your last quarter tax by December 31.
after a year mine went up to 7cpl.
I am at 2 yrs now and making 7.5 at one plaace and 8.5 at my other
In the first 6 months of this year. I'm not new to this, though, so I moved on. nm
s
Just waiting till the end of the year (sm)
Like I said, I'm not certain if I am going to be sent a quarterly tax invoice or not, but I figure better safe than sorry!
This is also a bad time of year to be job hunting.
This is the slow season for MTs and companies don't tend to hire much from December to February. Don't give in yet if this is really what you want. But I agree with other poster, you might have better luck with a local MTSO that is familar with your community college's program. Good luck if you decide to pursue this further! It would be a shame to give up so quickly after completing the course.
First of all, a lot of companies will waive the 2 year
-You graduated from a program they know provides a quality education.
-You test well enough during the application process.
-You have a well-written resume and cover letter and follow the application instructions to the letter.
Many companies hire new grads on regular intervals, but they do not advertise this because they will be inundated by applications, many of them from people with absolutely no training at all. It takes time and resources to train a brand new MT so they may only hire new grads a few times a year.
Speak with your school's post-graduate assistance program and get some leads for MTSOs that hire their grads. Check out your school's student forum and see where other graduates are getting hired. Find companies that will let you test as part of the application process (instead of applying and waiting for an invitation to test). There is a thread below with a list of companies that have been mentioned in the past as hiring newbies. Also, check locally and be on the lookout for smaller services to apply with.
Good luck.
I've been working for over a year now,
and I don't even know what my typing speed is anymore. It would be hard for me to take a typing test because I am so used to using my expander. I am really surprised you are finding most companies want a certain speed. I did not encounter that when I was applying.
Anyone signing a 2-year contract on either
end would be crazy. You can't guarantee work for 2 years and there is no way I would tie myself to a situation for 2 years.
Ignore the two-year clause and apply anyhow!
If you let that hold you back, you will never find work. There are plenty of new grads working and getting hired everyday. If you wimp out, you'll get nothing.
I heard that were going review resumes after the New year.
x
Our nine year old son started asking about the birds and the bees (sm)
this year. We have answered exactly what was asked every time. Once he started asking questions, he didn't stop.
We have covered birth control, child support, the fact that if he gets a girl pregnant he will have no choice in the matter if she chooses to abort (which horrified him) and many other things. He also knows that he will always be able to come to his father and I for birth control. The way he is being raised (Christian home), we hope he will not have sex before he is ready, which we hope will be when he is an adult. (Ideally, on his wedding night. But we don't push that.) But if he makes the decision to have sex when he is a teen, we have let him know that we will help him protect himself.
We have also told him that if he believes a girl when she says, "I'm on the pill", we'll kill him.
And I feel very bad for you about your daughter. If I had a child who had a child and behaved that way, I don't know what I'd do. (Other than pay to get Norplant in her arm, that's for sure.)
Good luck at getting custody. It sounds like you'd be a much better choice for the GC.
no, 4/2006 payment is for 2005 year...nm
x
They'll need your SS# to issue your 1099 at the end of the year.
nm
I personally did not incorporate until I was making over $50K a year because
of the added fees (paying CPA for one thing), corp taxes, etc. MT services carry so little liability I don't think incorporating to install a corporate shield is really necessary, especially since they go after deep pockets anyway. But incorporating if you are making $50K or more per year is a very important tool for income tax savings. If you are sending work out to other people and they are doing the work, then you turn around and send it in to the client, essentially YOU are not doing the typing, YOU are not earning the money, YOUR BUSINESS is. Therefore you should not be paying social security tax on earnings that are not YOURS but YOUR BUSINESS'S. If you incorporate you can pay yourself a reasonable salary for any transcription you do, plus shuttling the work back and forth. Let the rest of the earnings ride as the company's earnings. You will pay income taxes on them as any profit flows through to your personal taxes but you will save on that big 15% bite from social security. Other advantages though of incorporating are to set up your 401K and let your business make contributions to it. Again, though, that's something that's not likely to happen until you are making a lot of money. As you are a newbie, I don't see that in the near future...
Not the OP, but you can pay your taxes once a year at tax time. Estimated
s
I usually update the drug book every other year as I
use it so often and there are new drugs all the time. Equipment books I update about the same as there is always new equipment coming out. Other books I don't update as often, depends on how much I use a particular specialty.
graduated almost a year ago from a "Big 3" and nada
I graduated almost a year ago from a "Big 3" school and have had no luck. I am thinking I have to go for my CMT to get a second look. Ridiculous!
Until every American MT is working who wants to, and is qualified, for a living wage and affordable, quality health care benefits, NO MT work should be going outside the US. Get on it, Obama!
I've been an IC for five years and never had to pay more than $600 one time a year for taxes...
I have so many deductions that I almost don't pay taxes. Yes, I also have a tax professional do my taxes. I keep a clear plastic envelope on my desk and anything I buy related to the business or phone expense, % of electricity/gas, health insurance, medical expenses, etc., all go in the envelope so at the end of the year I'm not searching everywhere for my deductions.
Anything you use for your business is deductible, but used items. If you buy a used computer on e-bay it isn't tax deductible. It has to be new to be a deduction.
Companies waive the 2-year requirement for CS grads too.
CS grads have no problem finding jobs. I had several offers before I even received my final exam results. 
No company will waive their 2-year experience requirement for AHP.
Other than Andrews, the second recommended school is M-TEC, NOT Meditec, they are 2 very different schools.
Career Step only give you a year, so at M-TEC you have 18 months and will learn a LOT more.
Your post made it sound like you would rather take more time to do the course, but there's a reason M-Tec requires it done in 18 months.
You can't really learn if you drag it out longer than 18 months. You have to keep doing it, working at it, familiarizing yourself with it, in order to learn it. That is why they push you to not drag your feet, either do it or don't do it!
Good luck to you.
being able to make 40,000 year without a college degree is pretty good. I'm happy.
Love, love, love your story! nm
x
I love this one, you can
click on whatever body system you need for lots of really helpful info.
http://medicine.ucsd.edu/clinicalmed/introduction.htm
love MT
AmyAmyO,
Do your research on the field locally and go to the library. call local doctor offices and ask to speak with their MT to get info. Find out about a refresher course and there is a book at the library about researching to prepare for the field. Very good book. I love it! Good luck!
I do and so far I love it!!
I do too and love it as well.
nm
WOULD LOVE
to see the list of jobs/companies earlier poster mentioned.... could you post a link on this forum? It might bless a lot of folks! ![](http://forum.mtstars.com/smileys/shake.gif")
Where's the love??
I beg your pardon, I'm an Allied grad and I'm working as an MT.
Been at it 25+ years, still love it the same way I did at first. NM
x
Would love one! but like I mentioned
locally, there aren't any. I have went to all the dr.'s offices and the hospital and they have went to a paper form. They had used a service in a town 10 miles away and I applied and tested with the owner, who I knew and she would have hired me but she was notified that the work she had was being cut, since the paper form was being implemented, and she was going to have to down-size her workers. I had had a job line-ed up that paid hourly before they decided to go to this new form and lucked out. Now, I need to find something over the internet.
I currently work for them and LOVE it! sm
They are an awesome company, and I cannot say ANYTHING bad about them. I have been with them for 10 months now. Good luck!
love that dmz list
That site is where I found my first job. I recieved 13 responses from that list and I had ZERO experience. I have been working now for one month. :)
Most people love ES and that is what my
company uses. There are lots of choices available, but I don't think there are any free ones. There is Start/Stop and Bytescribe (haven't heard about them lately not sure if they are still around), and GearPlayer.
I love my job and am very happy!
However, I feel like I should warn you that after a year and a half, I am still making around minimum wage. This is okay with me. I like being able to work at home and the flexibility. However, I know my salary would not work for everyone. Some people simply need more money right off the bat, so I don't think MT is the best choice for them.
I love that analogy! That's encouraging!
Thanks cm, for spurring on this soon to be MT student! :)
I did it and I loved it! I love the lady over it!! She is the best!
x
I love doing psych notes
they do tend to be boring, but are usually in pretty plain English and are pretty long, so you get lots of lines. Easy money.
how does TV addiction equate to love from a mother?
She is a newbie. She will need blocks of time to do research, learn her trade before she is actually contributing to "society." But also, being part of society is being responsible. I used no rudeness in my post in expressing my sadness over her attitude. Your post was less polite and much less insightful and though provoking. TV does not mean a mother loves her child/ren. TV creates drones who emulate what they see and is addictive. Will they be eating in front of the TV with no time to run, jump, skip, play? What about the obesity epidemic in this country. Studies have linked it directly to parents using TV as a babysitter. Just think about what is best for everyone concerned and the reasons for the concerns.
I love reading your posts Patti!
nm
Love how Innahurry thinks she is funny
x
I do Radiology now, kind of fell into it but love it. nm
|
