
Considering 1099 Contract Work?
One of the most frequent questions Meredith gets asked being a Locums CRNA is โ๐๐๐๐ฉโ๐จ ๐๐ฉ ๐ก๐๐ ๐ ๐๐๐๐ฃ๐ ๐ 1099 ๐๐ข๐ฅ๐ก๐ค๐ฎ๐๐?”ย The short answer is โ๐๐ง๐๐๐ฉ, ๐๐ ๐ฎ๐ค๐ช ๐๐ค๐ฃโ๐ฉ ๐ข๐๐ฃ๐ ๐ ๐ก๐๐ฉ๐ฉ๐ก๐ ๐ฅ๐๐ฅ๐๐ง๐ฌ๐ค๐ง๐ โ. Seriously though, you have to be diligent with just about everything!
Hereโs some high level things to know:
1. Stay organized. Since you are now self-employed, youโll need to pay taxes to the IRS Quarterly.
2. Capture all receipts and document your work related expenses. These are ALL tax deductions as a full 1099.
3. Probably should be listed as number one…but, FIND YOU A GREAT CPA. Schedule meetings with them every quarter. Have your numbers and expenses available to show your income so they can help you plan the appropriate amount to pay in so you donโt have any penalties or issues at the end of the year.
4.ย As a 1099โr, YOU are responsible for paying your own taxes, which as a W2 you donโt have to because your employer manages this on your behalf.
Another big question she gets, โ๐๐๐๐ฉ ๐๐ค ๐ฎ๐ค๐ช ๐๐ค ๐๐๐ค๐ช๐ฉ ๐๐๐๐ก๐ฉ๐ ๐๐ฃ๐จ๐ช๐ง๐๐ฃ๐๐โ?
Admittedly, this one can be a challenge, BUT great news. If you are healthy, CCM or Christian Care Ministries offers a Health-Share plan that comes with a high deductible but keeps the monthly expense lower. They are a wonderful organization to be a part of and knowing that we help share the cost of health expenses with others in CCM is great for us. As an added bonus, you can sign up for a HSA (Health Savings Account) which is a triple tax advantaged account that allows you to save money for qualifying health expenses. (Iโll talk more about this in another post).ย Leveraging a HSA
CRNA’s with licenses, insurances, and organization
Since sheโs a CRNA who is self employed as a 1099, thereโs another Mountain to climb with managing all of her licenses (they vary by State), she has to independently manage and setup her disability insurance, and she has to fund other insurance like malpractice. Like I said, PAPERWORK. Itโs very rewarding and you learn a thing or two about โHuman Resourcesโ. Lol.
What questions do you have?

