HarryHK

HarryHK

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All Content by HarryHK

  1. Starting a Supplemental Staffing Agency: Help

    HarryHK replied to pediatricrn's topic in Nurse Entrepreneurs, Innovators

    OK, without actually publishing my corp income statement, here is a rough breakdown. Revenue $130,000 Subcontractor $35,000 Lodging $35,000 M&IE $15,000 Misc $5,000 Profit sharing $6,000 Benefits...

  2. starting nurse owned agency

    HarryHK replied to hazydaz's topic in Nurse Entrepreneurs, Innovators

    NSO (or more precisely HPSO) will sell you general liability along with professional liability. You probably won't be able to find it on their website, but they will quote you on the

  3. Starting a Supplemental Staffing Agency: Help

    HarryHK replied to pediatricrn's topic in Nurse Entrepreneurs, Innovators

    In 2005, I zero balanced my C corp, thus paying no corporate taxes (other than 15% on the 50% non deductible portion of M&IE - on just that one item my total tax burden would have been $3,000...

  4. Starting a Supplemental Staffing Agency: Help

    HarryHK replied to pediatricrn's topic in Nurse Entrepreneurs, Innovators

    OK, Eddy is right. When you file your first 1120 tax return, you have to state your filing status, either C or S or other. Again, I'm unsure what the benefits of an S corp might be - they are unlikely...

  5. Starting a Supplemental Staffing Agency: Help

    HarryHK replied to pediatricrn's topic in Nurse Entrepreneurs, Innovators

    Nope, you don't need a business license in any state. The only interesting exceptions that I know of is registering your agency in Washington state with the nursing board, and having to have a local...

  6. IC vs.employee-Tax problems later on?

    HarryHK replied to krazenurse's topic in Nurse Entrepreneurs, Innovators

    Hi Suzanne, not wanting to be offensive, but what exactly did you do for your own business? My experience as a sole practitioner company is quite different. I spend about 10 minutes a week on...

  7. IC vs.employee-Tax problems later on?

    HarryHK replied to krazenurse's topic in Nurse Entrepreneurs, Innovators

    It is definitely true that IC is not for everyone. And the corollary is that it may not be right for anyone, all the time. And sure, it is great to have a public forum, but we can not always share...

  8. IC vs.employee-Tax problems later on?

    HarryHK replied to krazenurse's topic in Nurse Entrepreneurs, Innovators

    Dead right! Boy, there is a lot of misinformation on this thread! The simplest way to analyze whether it is worth it to become an independent is that all costs that you have to pay, your former...

  9. Starting a Staffing Agency

    HarryHK replied to Kindhearted's topic in Nurse Entrepreneurs, Innovators

    I think you are right about the local staffing thing. However, I don't think it matters what the APR might be. It is just a fixed five percent cost. Which in the staffing business where you know...

  10. Starting a Staffing Agency

    HarryHK replied to Kindhearted's topic in Nurse Entrepreneurs, Innovators

    The figure for factor costs that I have heard several times in the past three years is 6%. I recently spoke to a small agency owner and he told me that he has a 3% deal currently. I don't have first...

  11. Starting a Staffing Agency

    HarryHK replied to Kindhearted's topic in Nurse Entrepreneurs, Innovators

    Reading the original post again, he/she looks like they are starting a home health agency. I'm going to guess that the costs for startup will be much higher than for a hospital staffing company (which...

  12. getting independent health insurance?

    HarryHK replied to cre8tivRN's topic in Travel

    A couple of points about COBRA, you are effectively paying for it when you are employed (otherwise you would be making more take home). So it is already affordable. Second, if all you want is a month...

  13. Starting a Staffing Agency

    HarryHK replied to Kindhearted's topic in Nurse Entrepreneurs, Innovators

    Having a factor is pretty standard for most small agencies. There is virtually no way to accumulate enough cash to pay the 10 travelers or per diem staff you need to have a full time agency and...

  14. Tax deductions

    HarryHK replied to nanbo's topic in Agency Nurses

    As a specialized industry, there are not too many tax people that can give correct advice to travel nurses (this is related to agency NURSING profession Suzanne). I certainly cannot give you advice...

  15. Independent Nurses providing medical care?

    HarryHK replied to rachel h's topic in Nurse Entrepreneurs, Innovators

    Are you an independent contractor? Would you share the name/contact information of your new insurance?

  16. Question re:agency vs per diem pay?

    HarryHK replied to gypsyatheart's topic in Agency Nurses

    In some areas, notably the San Francisco Bay area, there can be a considerable difference between agency per diem and the hospital. Agency pay is between $38 and $42 an hour in the Bay, hospital per...

  17. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    After you get a contract and start working, you will do your timesheet as usual on the hospital's schedule. When the pay period is done, you submit a bill for worked hours. Standard billing practice...

  18. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    I'm incorporated in Ohio, currently doing a contract in California. And you can't always tell who is incorporated from a name. If you look at a list of agencies, many (who certainly are incorporated)...

  19. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    Since I have never been through that process, how do you demonstrate to a hospital or agency that you are incorporated? I have a subcontractor that is incorporated but I don't know what documentation...

  20. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    What you are referring to is a completely different issue but I understand the confusion. This is not actually the IRS saying that you cannot be an independent contractor, just that this agency did...

  21. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    Please cite a reference. This will be rather large news to all the independents who are not incorporated. Also to the dozen or so agencies (that I know of personally) who use independents, most of...

  22. Traveling as an Independent Contractor?

    HarryHK replied to swillmsrn's topic in Travel

    I have been doing direct independent travel contracts (13 weeks) for over two years now. And there are many others doing the same thing. And even more traveling as independents through an agency...