l**p
发帖数: 1 | 1 200k 1099 equal to 114 k W2 with full benefits?
Got an offer for a medical group, they will either do it 1099, they will pay
$41 per patient with avg being 24-36 patients, Most of their NPs make over
$200,000 a year 1099.
They can also do $114,000 a year with full benefits.
Of course for 1099, you don't get health insurance/ 401K/CME/PTO/Sick pay/
7day national holiday pay etc, no license fees or DEA reimbursement, no
malpractice insurance, no life insurance, no job protection, no guarantee of
work tomorrow, no workman's comp, no disability (short or long), NO
unemployment benefits etc should you need them. you get money, and that's it
. It's up to you to purchase any benefits you want.
1099 must pay all the regular taxes by yourself - federal, state income
taxes, social security, FICA, etc plus they have to pay self-employment tax
which is the employee's/employer's share of social security/FICA. Self-
employment tax is roughly 15%. My friend told me when he was paid by 1099s
in another field (not nursing), all of the taxes plus self-employment tax
reduced his earnings by roughly 50%. Self-employed people (1099) are
required to make estimated quarterly payments to the IRS.It was a pain and
way more expensive than most people estimated.
I will also have the expense of working with an accountant because I am
required to filed quarterly taxes, which I have to budget for myself, b/c
the employer won't do it. If I were out of work, I can't file for
unemployment...b/c that benefit goes out the door as well...I also don't
have any level of job protection unless the contract specifies for a period
of time.
Typically, ANY and ALL unreimbursed expenses incurred while producing income
are deductible for 1099 people. Uniforms, travel expenses and mileage,
parking, tolls, fares, meals, lodging, dues, agency fees, etc. are all
deductible against your income. There is a mileage limit (50 miles, I think)
from your residence before meals and lodging are deductible.
Just by being a 1099 you will have to cover your employers FICA contribution
. This year that would be an additional $8,636 on your tax pill in FICA. Add
to that vacation, education leave, medical insurance, dental insurance,
vision insurance, life insurance, disability insurance, CME money, etc. all
must be considered. Most 1099 jobs require about 25-50% additional to make
them better, although, they do open things up to a world of tax advantages.
Also, just because you significant other is providing the health insurance,
doesn't or shouldn't mean you should accept less for your services.nowadays
health insurance can be easily $25,000 a year. 1500 a year CME, dental maybe
$500 a year, $5000 401K, PTO and paid vacation easily $25,000, $500 for CPA
consultation, $1000 for malpractice, $731 for DEA, $500 for license fee,
etc.
I read somewhere where the major reason that employers use the 1099 is to
avoid unemployment payments and the hassle with the taxes by shifting all
these responsibilities to the worker.
A lot of employer likes to hire MD or other providers 1099, especially locum
agency. This made some MD or providers have a false high salary, some MD
get 50k a month as 1099, but when consider everything together, 50k a month
1099 is about the same as 25k a month as W2 employee with full benefits.
https://forums.studentdoctor.net/threads/locums.1198082/
https://forums.studentdoctor.net/threads/indenpedent-contractor-vs-employee-
status.1298107/
https://forums.studentdoctor.net/threads/anyone-with-travel-experience-with-
the-big-groups-locums.1286087/
https://forums.studentdoctor.net/threads/locums-or-no.1257693/
https://forums.studentdoctor.net/threads/where-are-the-high-paying-locums.
1236848/ | A*******s
发帖数: 9638 | 2 I would take 1099 and have your accountant to take care off the hassles. $
86,000 is a lot of money.
pay
over
of
it
【在 l**p 的大作中提到】
: 200k 1099 equal to 114 k W2 with full benefits?
: Got an offer for a medical group, they will either do it 1099, they will pay
: $41 per patient with avg being 24-36 patients, Most of their NPs make over
: $200,000 a year 1099.
: They can also do $114,000 a year with full benefits.
: Of course for 1099, you don't get health insurance/ 401K/CME/PTO/Sick pay/
: 7day national holiday pay etc, no license fees or DEA reimbursement, no
: malpractice insurance, no life insurance, no job protection, no guarantee of
: work tomorrow, no workman's comp, no disability (short or long), NO
: unemployment benefits etc should you need them. you get money, and that's it
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