Has anyone got an opinion about working for Weatherby or Comp Health locums?

[Knudsjb0]

I am considering doing locums but want a W2 company vs a 1099 company..unfortunately, most are 1099. Weatherby and ,I believe, Comp Health are both W2 companies...looking to see who might be better to work for. Any feedback would be appreciated....before I make a costly mitake

[mer3211]

I have been researching the same situation and found this website to be helpful....

 

 

https://www.apaa​.org/threecolumnlanding.aspx?id=319​

 

 

[ventana]

if you are going 1099 you need to be in the $100 per hour range - they are charging $150/hour to the business!

[Acromion]

if you are going 1099 you need to be in the $100 per hour range - they are charging $150/hour to the business!

 

 

Wow... I just inked a deal with a 1099 locum job for $65 / hr for internal medicine in California. The company is paying for housing and a rental car to use the whole time (no mileage restrictions).

 

Did I just get lowballed?

[weezianna]

I have done quite a bit of locums work.  I prefer W2 contracts as the company takes care of the tax withholding.  With 1099 wages, right off the top you owe 15% in SS, and typically have to pay quarterlies to the feds.  For 1099 work, your hourly wage should be high enough to reflect that hit.  Companies win bids, and bill the client an hourly rate and also build in a housing allowance and travel allowance.  Few will offer a per diem; just deduct that from your taxes.  So, when you figure your compensation, the company hiring you is working with certain margins.  If you don't need housing as the gig is close to home or you have somewhere to stay, ask for a higher hourly rate.  Calculate whether it's worth your time and wear and tear to drive using your own vehicle and receive mileage reimbursement rather than get a rental.  I don't think I've worked for Comp Health, but have talked with them.  I have worked with Delta, Staffcare, MDA and a few others. 

[Acromion]

I have done quite a bit of locums work.  I prefer W2 contracts as the company takes care of the tax withholding.  With 1099 wages, right off the top you owe 15% in SS, and typically have to pay quarterlies to the feds.  

 

 

Derp... I didn't even think about SS. What about Medicare?

[weezianna]

This is from the on line "Self-Employed Center" at quickbooks:

 

"Everyone pays roughly 15% of their income to the government to cover Social Security and Medicare taxes. As an employee, you pay about 7.5% and your employer pays the other 7.5%. As a contractor, however, you pay the full 15% (nicknamed “self-employment or SE tax”).

That means, as a contractor, you pay 7.5% more in taxes than an employee does. However, the tradeoff for this is more flexibility, autonomy and control in the work you do. Additionally, you get more leniency in the expenses you can write off, meaning that you pay 15% tax of a much lower number than most employees do. For example, employees can’t write off commuting costs, but you can as a contractor if you’re commuting to visit a client.

Your self-employment tax is only based on your 1099 earnings. However, your income tax is based on both your 1099 and W-2 earnings, so having both types may increase your income tax bracket."