In the following illustration the comparison is as under:
In the case of W2 Employee
Salary $100000/-
Income tax 25%
Travel costs 50 miles per day weekly 3 days and monthly it comes to 12 days and a year 12@12=144 days. If we considered $100 for 50 miles then it comes to$14400/- per year.
The financial cost $100000-14400-$25000=$60600/-
The job satisfaction is ok.
In the case of a consultant
Salary $100000
Travel exp is cost of the employer weekly once.
Risk factors are more due to illness. Dependent family and no other benefit.
In this case, the Consultant should continue because his financial benefit is more compare with w2employee. Its a dangerous and exciting job and he has a talent and passion for it. In every sphere of life we have to face challenges and as a professional, the achievement is a success for himself as well as for the organization.
Essay question: If you were offered a position with a company which would allow you to...
6. Which of the following factors, if any, is not a characteristic of independent contractor status? a. Work-related expenses are reported on Schedule A (Form 1040). b. Receipt of a Form 1099 reporting payments received. c. Workplace fringe benefits are not available. d. Services are performed for more than one party. e. None of these is correct. 7. Which of the following would constitute an employer-employee relationship? a. A plumber who comes to your home to fix a leaking faucet....
Case 1 1. If Ben continued working until he turned 64, would he be able to claim Social Security `benefits, and if so, what percentage of his full benefit would he receive? 2. If Ben was in an accident and passed away before retiring, would his wife receive any Social Security benefits? Why or why not? 3. Ben is enrolled in a defined benefit pension plan with his employer. How does this differ from a defined contribution program? Case 2...
Case 1 1. If Ben continued working until he turned 64, would he be able to claim Social Security `benefits, and if so, what percentage of his full benefit would he receive? 2. If Ben was in an accident and passed away before retiring, would his wife receive any Social Security benefits? Why or why not? 3. Ben is enrolled in a defined benefit pension plan with his employer. How does this differ from a defined contribution program? Case 2...
My Baby Boomer parents are on the verge of turning 65. They just received their copy of Medicare & You in the mail from the Centers for Medicare and Medicaid Services at the Department of Health & Human Services. It's time for them to think about a bunch of new things that happen when you turn 65, like signing up for Medicare and starting to collect Social Security. The latter seems like a relatively easy straight-forward decision. Since both of...
My Baby Boomer parents are on the verge of turning 65. They just received their copy of Medicare & You in the mail from the Centers for Medicare and Medicaid Services at the Department of Health & Human Services. It's time for them to think about a bunch of new things that happen when you turn 65, like signing up for Medicare and starting to collect Social Security. The latter seems like a relatively easy straight-forward decision. Since both of...
69) A policy that pays you back for actual expenses is called A) An indemnity plan. B) A deductible plan. C) A reasonable and customary plan. D) A reimbursement plan. E) A coinsurance plan m The set amount that you must pay toward medical expenses before the insurance company pays benefits is called A) Deductible. B) Reimbursement C) Indemnity. D) Internal limit. E) Reasonable and customary charges. 71) Which of the following is a government health care program? A) Health...
Please read case above and answer the question , thank you . what organizational processes does compensation affect and what is costco's rationale for having an exceptional compensation plan ? Case 11-1 Discounting Everything but Compensation at Costco Costco has gone head to head with the likes BJ's, Target, and SAM's Club and has come out the winner. Offering over 3,700 discounted household products to over 71 million people across Asia, Spain, Puerto Rico, Mexico, Canada, and 44 states in...
My Baby Boomer parents are on the verge of turning 65. They just received their copy of Medicare & You in the mail from the Centers for Medicare and Medicaid Services at the Department of Health & Human Services. It's time for them to think about a bunch of new things that happen when you turn 65, like signing up for Medicare and starting to collect Social Security. The latter seems like a relatively easy straight-forward decision. Since both of...
please i need a good answer and a perfect answer.. i need unique answer use your own words. don't use handwriting Case Study Imagine working in an organization where employee morale is low, turnover is high, and the costs of hiring are astronomical. If that were the case, you’d imagine the employer would go to great lengths to find, attract, and retain quality employees. Couple this goal with the reality of the economic picture—you simply cannot afford to provide expensive...
I'm in a pickle. My Baby Boomer parents are on the verge of turning 65. They just received their copy of Medicare & You in the mail from the Centers for Medicare and Medicaid Services at the Department of Health & Human Services. It's time for them to think about a bunch of new things that happen when you turn 65, like signing up for Medicare and starting to collect Social Security. The latter seems like a relatively easy straight-forward...