Independent Contractor (1099) NP Pay

[MelissaARNP]

I have a friend that is a nurse practitioner who is considering a part-time 1099 job with a skilled nursing facility in central Florida. They want to pay her on a per patient basis. The physician says she should be able to see 3-4 patients per hour. She would have to take call on the days that she works. Obviously, as a 1099 employee, she's an independent contractor responsible for her own taxes and health insurance. What is fair compensation for this position? Thanks in advance for your help!

[PG2018]

For a contractor? Probably, but I wouldn't accept it. I think hourly is probably better for part-time work since it's more of a sure thing or a daily rate, i.e. I'll work for $1,000/day, etc.

Think about what they'd pay full-time then as a contractor ask for 150-175% of that.

[xenogenetic]

Tell your friend to have their tax attorney and the nursing home's legal rep research that arrangement because the IRS has strict rules governing what constitutes an 1099 independent contractor, and one of those rules is that the contractor dictates the work hours and I would surmise that on call would be generated at the behest of the nursing home (although wouldn't it be cool if you could generate the on call...I would never have to go curtain shopping with my wife ever again. Lol). If this is in fact true, then ur employer would be paying the IRS penalties for misclassifying worker and failing to pay payroll taxes and your friend would have to pay back all those deductions that she/he thought were legit as 1099 worker but are not allowed for employees. The IRS spends more time reviewing 1099 setups because it knows if it finds irregularities then it will likely be owed money from both sides, employer & contractor.

[NEFL Psych NP]

Hi, general question please:

I'm considering 1099 work and looking for some savvy advice on a few  points,  how should I calculate a $ hourly figure for FT 1099 with regard to :

     -    payroll taxes

     -   any retirement planning

     -   professional financial oversight/ CPA

     -  scheduling/ time off if not actual "PTO"

thanks!!

[MentalKlarity, BSN, NP]

3 hours ago, NEFL Psych NP said:

Hi, general question please:

I'm considering 1099 work and looking for some savvy advice on a few  points,  how should I calculate a $ hourly figure for FT 1099 with regard to :

     -    payroll taxes

     -   any retirement planning

     -   professional financial oversight/ CPA

     -  scheduling/ time off if not actual "PTO"

thanks!!

You are a PMHNP?

Most of us make around $120-$150 WITH full benefits. 

For independent contractor I would imagine $200 per hour minimum. Paying your own insurance, PTO, retirement without match, etc plus all your own payroll taxes.

Incorporate is a healthcare LLC in order to take advantage of a tax break for small businesses that basically offsets the payroll taxes - pro-tip!