HOw To Start YOur Own Business - page 2
by nightingale 22,518 Views | 27 Comments
Let's talk about this. How did you get started? This is what I did but there are many ways to get started and get info. As for me, I started with researching, asking, searching the internet, and joining the National Nurses In... Read More
- 0Jun 27, '03 by Cqc_CqbThanks Nightngale
Well I guess to start - my interest was piqued about the possibility of being an independent contractor. I was wondering how hard (if at all) it is to keep up with all the taxes and paper work and other miscellaneous aspects of being an independent contractor. Also if i decide to go that way, should I still go to the SBA and take some classes. I mean I dont want to make alot of money then end up owing out more in taxes at the end of the year. Just thought that are running around my head. There is alot of room up there for them to run and have fun in my head :}
P.S now have a piece of paper sitting on dinning room table to right down business ideas on
- 0Jun 27, '03 by nightingaleThe Entrepreneur Class I took helps you with how to do your own books, what methods you could use, and software options. I use QuickBooks, turn the disc over to a accountant, and have a small business consultant I check in with regularly.
As indivdual as people and ideas are so is the way you conduct business. For me to be successful, in my opinion, I need to maintain expert advisors and resource experts to function appropriately and legally.
Good luck in your journey.
- 0Jul 1, '03 by nightingaleCqc:
Just got back from a travel position. I do, very short term, block bookings via established agencies with facilities. They have the contracts, the agency pays my Corp. my corp pays me via payroll, expenses come out first etc.
I worked a step down unit this weekend; I usually do med/surg but will work tele. etc.
- 0Aug 29, '03 by Lavslady[QUOTE]Originally posted by Cqc_Cqb
I was wondering how hard (if at all) it is to keep up with all the taxes and paper work and other miscellaneous aspects of being an independent contractor. .. . I mean I dont want to make alot of money then end up owing out more in taxes at the end of the year.
When I first started my business, this was my big worry...how did I figure out how much taxes to take out? I went to an accountant, and he told me that all new businesses have to pay estimated quarterly taxes...so how can you "estimate" what your taxes are going to be? He assured me that if I pay 100% of what I paid last year, I wouldn't be in any trouble come April 15th. So, he said, you take the total amount you paid in taxes last year, divide it by 4 and pay that amount every 3 months, you are paying "estimated quarterly taxes". These taxes are due the same time every year, no matter when you start your business: June 15, Sept. 15, Jan. 15, and April 15. (April 15th being when you declare your business expenses/deductions on your regular Income Tax.)
He then figured mine out for me, and printed me out vouchers and told me to pay that amount each time they are due, and come back to him in time for him to do my 2004 Income Taxes.
Hope this helps...
- 0Aug 29, '03 by CmystI own my own business, which hasn't made a dime so far but then I haven't been actively promoting it, either. It's not that I'm not good at marketing; it's that I dislike it. I have considered hiring an agent to market me, and I may end up doing that. (I belong to NAIN, and there are at least two nurses in that organization that are nurse-agents. I would never seek the services of a non-nurse; they wouldn't understand my needs.)
Someone mentioned agencies that will sub-contract with ICs. Can you please give me some names? I live in Northern California, and I know that we are screaming for nurses here and RNs will be even more in demand after the ratio law goes into effect in January. Right now, I am working per diem to maintain the highest control over my schedule and my life. I would really like to be able to do it IC, and I suspect that if I finally break down and buy a suit (I'm a jeans and T-shirt kind of woman) and start making cold calls I'll get contracts eventually....... But if someone can give me some agencies that will sub-contract me, that would be wonderful!
- 0Aug 29, '03 by LavsladyHi Cmyst,
I too, am a member of NAIN. They were very helpful in getting me started in my own business, but I became disillusioned with them when X started deleting my threads because I didn't agree with him charging so much to have our names in a National Directory. I couldn't see any advertising benefit to advertising Nationally, when I only work locally.
He takes a percentage of your pay. He has found many ways to make money off IC Nurses, without having to "work" himself. Needless to say, I will not be renewing my membership in NAIN.
I work per diem through my own business, PRN Nursing Care. I send out packets with my information to local LTC facilities, because that is my area of expertise. I don't have a "suit" to wear to interviews, but just wear "good" clothes. I haven't yet had to make any "cold calls"... My information packet contains info about my IC business, my experience, my recent education, and my billing rates. Facilities call me asking for interview.
I worked as Agency Nurse my entire career (35 + years), so I know I charge less than agencies do, yet more than I ever made as salary (and WAY more than facilities pay their staff nurses!) So far, I haven't had any trouble working as much as I want to. Hopefully, all will be okay come April 15th!!!
If you want a copy of my "Introduction packet", just email me, and I'll be glad to show you what works for me.
Last edit by sirI on Jan 26, '08 : Reason: please do not post names of individuals and/or your personal contact information
- 0Aug 31, '03 by CmystThanks, Lavslady
I understand how you feel about NAIN, and I have been a bit dismayed myself at what seems like very arbitrary decisions about the implied motives of certain threads and posters, when objectively I could find no impropriety in them. Because my ex has his own business, and I have intimate knowledge of what he spends on promoting it, I didn't feel that the cost of the Directory was bad at all, so I did put myself into it. And the percentages that agents charge don't seem out of line, if they are able to find contracts and advocate for their client's best interests. But, yeah, I share some of your concerns, especially since a free market-type system in which all are equally allowed to promote their ideas on marketing ICs to facilities is not really evident in the forums. There have been times I was truly puzzled at the vehement reactions to seemingly valid ideas, that were branded as attempts to run "agencies". I know a scam when I see one, and while it's true that I've seen a couple of scammers post on the NAIN forums, I don't think that all posters with alternative marketing plans are trying to scam us. I, for one, am more anxious to have a chance to judge for myself and wish they'd not started censoring the forums.Last edit by sirI on Jan 26, '08 : Reason: referred to edited post