Wage Raises Due To Tax Cuts

[SloGlo]

all I remember is i was shown a receipt/invoice that had my hourly rate on it for what I was billed.  I didn't have any insurance offfered to me thru the company.  it was about 70% after per diem was taken out.  the rate included per diem.  so I treated per diem as a pass thru and calculated my hourly rate minus the per diem.  It was about 30% higher than my hourly rate.  my company told me my travel home every month came out of a different pot of money...I didn't see the sheet on that part of it. 

sew, yore put my rate was 40% of the billing.

[hamsamich]

It was just part of the ObamaBux normal 2-year contracts SRS got pre-2012.  They had so many RP techs out there it was crazy.  As usual I have no idea what SloGlo is talking about. After you took out the per diem it was about 70%.  About 4 of us sat around and calculated it...we were all getting about the same rate.  We just subtracted out the per diem and calculated what was left.  There was a statement about OT that was seperate from the PD/hourly rate...I worked so little OT I never focused on that part of it.  This is all while ago so I'm just giving you the gist.  Multiply what I was getting by 1.3 and that was about what the subcontract company was getting.

[GLW]

why do you guys care?!?!?!?!

this is the amongst the most mundane, assinine discussions that ever occur on these forums,...

you, me, we get what we agree to work for,...

what the contract company gets above and beyond that should never be your, mine or other's issue,...

if you're curious about an eye opener, set yourself up and go in as a 1099 and get yourself a huge pile of money for your time,...


and then spend the precious hours of your life being sure Uncle Sam and Aunty Arizona get their cut and they're happy with it (aka  - no audit this year),...


yeah, as long as I am content with what I agreed to perform with how much I agreed to be compensated,...


I could not give a rat's ass if they billed at 5X my compensation rate,...


as I do have personal knowledge of some of the books at some of the places at one time or another,...


why do you guys care?!?!?!?!?


[youtube height=200 width=400]https://www.youtube.com/watch?v=d-diB65scQU[/youtube]

[GLW]

BOT,....


after all typical increases in COL (health care hikes, inflation, etc.),...


I realized a net 2.7% bigger paycheck,...


so,....


compared to 2017,...


my SIRIUS XM is effectively free this year,...


plus I get about ten car payments for my better half's new car effectively free this year,...


good deal,....


for as long as it lasts,...

[scotoma]

Employee business expenses are no longer deductible. Make sure that your per diem covers your expenses.

[GLW]

Employee business expenses are no longer deductible. Make sure that your per diem covers your expenses.

"Employee business expenses" is a broad term, and to state they (as in all of them, in all the various distinctions) are no longer deductible is simply not true,...

and to mix per diem into that statement, without the distinctions of temporary versus indefinite employment, only misleads the reader down the road of taxation perdition,...

Publication 529 and Form 2016 are a start,...

OR,...

as always recommended when things get complicated,....

get a good CPA to help you with your tax liabilities,....

and talk to that CPA and pay that CPA now,...

and get ahead of the bow wave now....

not in March of 2019,....

[atomicarcheologist]

why do you guys care?!?!?!?!

this is the amongst the most mundane, assinine discussions that ever occur on these forums,...

you, me, we get what we agree to work for,...

what the contract company gets above and beyond that should never be your, mine or other's issue,...

if you're curious about an eye opener, set yourself up and go in as a 1099 and get yourself a huge pile of money for your time,...


and then spend the precious hours of your life being sure Uncle Sam and Aunty Arizona get their cut and they're happy with it (aka  - no audit this year),...


yeah, as long as I am content with what I agreed to perform with how much I agreed to be compensated,...


I could no
t give a rat's ass if they billed at 5X my compensation rate,...


as I do have personal knowledge of some of the books at some of the places at one time or another,...


why do you guys care?!?!?!?!?


[youtube height=200 width=400]https://www.youtube.com/watch?v=d-diB65scQU[/youtube]

I didn't start this thread to discuss corporate profit. I started it to find out whether the companies were in line with the spirit of the tax cut.
Perhaps I should have inquired if any of the nuclear personnel vendors are giving raises tied to the tax break as major hi tech corporations have.

[GLW]

I didn't start this thread to discuss corporate profit. I started it to find out whether the companies were in line with the spirit of the tax cut.
Perhaps I should have inquired if any of the nuclear personnel vendors are giving raises tied to the tax break as major hi tech corporations have.

ahhhhh,...

well, all I can posit is this:

BZ's general observation on Internet forums/threads etal, By the 5th post in any thread it starts drifting off topic. By 12 to 15 it has nothing to do with the original topic and if it surives to 30 or so it magically gets back on topic. This applies almost everywhere.

Mike

[GLW]

I didn't start this thread to discuss corporate profit. I started it to find out whether the companies were in line with the spirit of the tax cut.
Perhaps I should have inquired if any of the nuclear personnel vendors are giving raises tied to the tax break as major hi tech corporations have.

plus,...

in case you missed (it),...

I tried to help you out there,...

BOT,....


after all typical increases,.....

BOT is shorthand for "Back On Topic",...

Enjoy the Day!!!!!

[GLW]

....Is this true? 

short answer - yes

How about Bartlett?

short answer - ditto

thread done,....

because:

I didn't start this thread to discuss corporate profit......

and:

....I started it to find out whether the companies were in line with the spirit of the tax cut....

apparently not,...

thread over and done,...

[atomicarcheologist]

thread over and done,...

That's a shame, when  I had just posited

Perhaps I should have inquired if any of the nuclear personnel vendors are giving raises tied to the tax break as major hi tech corporations have.

[ejones73]

My experience working for a small consulting firm was that billing rates were 2-3x higher than the actual pay the worker received. The billing rate needs to include all overhead (office space, management staff salaries, health care, insurance coverages, social security and Medicare taxes, workers compensation insurance, etc.) plus some profit to float the company between contracts. Generally speaking, the smaller the company, the higher the overhead is as a percentage of total company cash flows.