This is just bogus B/S by the Democrats who are looking to gouge a few more dollars out of working Americans to pay for their Socialist oriented entitlement programs for those who don't work at home.

As an Independent Contractor, I received a 1099 from both SAIC and MPRI. As such, my tax accountant made me pay both employer and employee portions of Social Insecurity/Medicare. I didn't complain too loudly because having been a local government worker all my career, I was short of quarters to qualify for SS & Medicare. Between my military time and jobs before getting into law enforcement, plus the time in Afghanistan and Iraq, I now have enough time to qualify. I don't plan on applying for another four years assuming the system isn't bankrupt by then. Good thing I have Police Retirement.

If the law passes and apparently it has, the companies will simply write a clause into each of the contracts of the Independent Contractors requiring money to be witheld. As an Independent Contractor and essentially a business unto our self, we will have to pay the full amount. In the end, the only cost to MPRI or DynCorp will be making the adjustment to their computers to accomodate the witholding.

The bottom line fellow Contractors is, grab your skivies and hold on because this is merely the first shot in the battle of income redistribution to come if Obama or Clinton are elected in November.

Semper Fi!!!!

How about bringing back the spirit of April 19th, 1775?

For now, I filed form 673, and claim Texas residency. My Federal is about 60 dollars a month. FICA wont be much and no state withholding.

Cassius

It's official, on August 1st DynCorp will start withholding Medicare and Social Security and you get to pay a huge tax bill at the end of the year. So if they don't drastically up the pay, I see about 40-50 % of the employees quiting, as many can make $70000 in the US and be home with their families. And you will continue to be an employee of Dyn, so no Self Employed Contractor loop holes..... Once the word gets around, wait for the airport to fill up...lol

Its an absolute attack on the industry that also undermines our ability to provide quality education in these 'foreign policy environments". Think about it, there isnt a way in hell DYN is going to offset the cost of this by raising the compensation level. This will result in turnover, with the potential of the incoming crew being less proficient and professional than those outgoing. This will impact recruiting, it will be hard to get people that meet the contract standard. It also has the potential of changing the employee's status, changing the companies cost of required benefits, specifically in the area of overtime and workers compensation.

Lucky for me I don't pay tax.

Filling out the 673 and W4 now. Guess I need to get serious about finding a good Tax guy. The thought of off shore banking really does no good now, unless I can find a non-US type company to work for. This is going to hurt.

rockshow wrote:

Lucky for me I don't pay tax.

Ditto

I hate the IRS. I hate liberals.

I understand that the tax system does great things for us, but I imagine that a lot of money goes to naught and doesn't help me. God, I hate the IRS and good Lord, do I hate liberals.