zibazinski
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Post by zibazinski on Mar 30, 2011 14:08:05 GMT -5
They asked DS to come back next week!!!!
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telephus44
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Post by telephus44 on Mar 30, 2011 14:40:50 GMT -5
We have done the 1099/self employed route off and on numerous times and IMO 50% more isn't enough to even consider it. Run the numbers yourself in a Turbo Tax type thing to make sure. But for us the self employment taxes were way too onerous to even consider it for less than double the salary. And that is assuming that he will continue to be covered under your health insurance for no additional costs. Just my 2 cents. Thanks for the input. He actually did a contract last year through a contracting firm, and they handled all the taxes - it was almost like he was a temp. He got a W-2. I would definitely run it through Turbo Tax if he ends up doing it again as a contractor. Thing is, he makes about $75K now, and going salary for his expertise is $125-$150K. That's a lot to leave on the table.
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973beachbum
Senior Associate
Politics Admin
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Post by 973beachbum on Mar 30, 2011 15:02:35 GMT -5
We have done the 1099/self employed route off and on numerous times and IMO 50% more isn't enough to even consider it. Run the numbers yourself in a Turbo Tax type thing to make sure. But for us the self employment taxes were way too onerous to even consider it for less than double the salary. And that is assuming that he will continue to be covered under your health insurance for no additional costs. Just my 2 cents. Thanks for the input. He actually did a contract last year through a contracting firm, and they handled all the taxes - it was almost like he was a temp. He got a W-2. I would definitely run it through Turbo Tax if he ends up doing it again as a contractor. Thing is, he makes about $75K now, and going salary for his expertise is $125-$150K. That's a lot to leave on the table. That sounds like the point you should really look into it. I am not saying don't do it unless it is a set amount over. I just think people should make sure they absolutely do something like this knowing exactly what it will mean financially. For us the shockers weren't just the self employment taxes and they were high. We went from paying 30% of a 10K health insurance policy to paying the full amount of it, and the cheapest crappy policy to boot was over $25K a year for the family. I don't want to sound like Debbie Downer. I just really think people should know what they are jumping into first.
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Deleted
Joined: May 2, 2024 10:29:36 GMT -5
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Post by Deleted on Mar 30, 2011 15:12:28 GMT -5
Yay Zib! Hope your DS gets the job.
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Deleted
Joined: May 2, 2024 10:29:36 GMT -5
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Post by Deleted on Mar 30, 2011 15:18:04 GMT -5
My company treated us pretty decently when things were bad- they cut about 10% of staff and we didn't have salary increases for 3 years, but the 401(k) match stayed and they didn't mess too much with other benefits.
I got a small increase this year and I like the company and what I do- there's also nothing decent in my field in this area. Changing jobs would require moving, probably to a HCOL area, and would probably be the end of my occasional swell trips to Europe and India in Business Class on the company dime. It would take a lot to move me right now.
But I did get the happy news that they're worried about attracting and retaining good people. That has to be good for everybody. ;D
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busymom
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Post by busymom on Mar 30, 2011 15:27:27 GMT -5
My current employer didn't come thru on most of the promises they'd made to me about 6-9 months after I was hired. I do have a great supervisor, but the culture here is toxic. Most employees are treated pretty badly. I've been lookin' around for awhile, & will put more effort into the search once the economy is a little more healthy.
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
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Post by azphx1972 on Mar 30, 2011 15:36:43 GMT -5
They asked DS to come back next week!!!! Nice!
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998fbird
Junior Member
Joined: Jan 6, 2011 17:22:29 GMT -5
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Post by 998fbird on Mar 30, 2011 17:02:45 GMT -5
This is the first year of the recession I haven't received a raise and the freeze was across the board. However, all of the news stores about the huge piles of cash that many corporations are sitting on would give me heartburn if I worked for any of those places. I wish the job hunters good luck and that it wakes up many many company officers. I'm actually fairly happy with my employer/work place, even if I don't think very much of my managers or organizations department directors, the stupid stuff that goes on where I work goes on at every place else I've ever worked.
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Post by gsbrq on Mar 30, 2011 17:57:31 GMT -5
I'm pretty happy at my job, but I'm applying elsewhere because my company can't afford to pay me what I want. I'm applying for a job this week which would mean a big increase in salary, and it would also be a good career move for me.
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Post by illinicheme on Mar 30, 2011 19:54:37 GMT -5
I'm not planning to look for another job in the near future, but I've changed jobs twice recently. I quit my first job in Oct 2009 to move across the country and take a job with a small company. I was laid off from that after four months. Fortunately landed current job in May 2010. No plans to do anymore looking for awhile at least! Plus my current employer is about as good as it gets in terms of benefits/appreciation.
I expect lots of former colleagues at my first company to bolt as soon as they find something better. That company (particularly the management in my old department) has a habit of crapping on people, and morale has been pretty low for a good number of years. (Although my resignation was precipitated by the need to relocate for my DH's job, it sure felt good to tell them to shove it! in nice words of course.)
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kgb18
Senior Member
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Post by kgb18 on Mar 30, 2011 20:11:59 GMT -5
I just changed jobs. I went back to a previous employer. I am much, much happier than I was at my last job, and I have no intention of going anywhere any time soon. The exception to that being if we hit the Megamillions jackpot this weekend. Then I'll be out of here!
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