(optometry) Questions re: moonlighting during residency

[tobleroneFan]

I am interested in moonlighting on Saturdays this year while doing my residency.

There is a doc that has contacted me to fill in on Saturdays, but I want to know what questions I should be asking the doc before agreeing to moonlight. So SDN, help me out. What should I be asking the doc before agreeing to moonlight??

These are some of my thoughts/questions:
1 What is the daily rate/pay for the day? (obv the most impt question )
--> in relation to this question, anyone have personal experience on how you were paid when moonlighting? cash? under the table? did you fill out tax forms W2 or is it W4?

2 Do you go to the docs office and observe how things are run First before moonlighting there?
--> I assume the doc would want you to know how their office runs. Maybe have you come in to shadow for a few hours? WOULD YOU/I be paid for those hours of shadowing?

3 Is there some contract or usually verbal agreement?

These are all the things I can think of right now. I would REALLY APPRECIATE ANY HELP YOU GUYS CAN GIVE ME

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[Jibslider]

1. Daily rate is whatever the OD wants to pay you. Usually anywhere from 250-400 per day. If you're working for Tony Soprano, OD you might get paid under the table, but more than likely you will be either considered an employee (W4), or most likely an independent contractor (W9). If you are being paid as an independent contractor, you will need to reserve enough from each paycheck to pay quarterly taxes. DO NOT FORGET TO DO THIS.

2. It depends on how comfortable you are in just showing up and seeing patients. Since you're right out of school, you should show up and observe for a few hours to see what the flow is like, and how the OD interacts with his/her staff.

3. Depends on the OD. Some may want a contract, but most for fill-in will just use a verbal agreement.

 

[Optomchick]

I am interested in moonlighting on Saturdays this year while doing my residency.

There is a doc that has contacted me to fill in on Saturdays, but I want to know what questions I should be asking the doc before agreeing to moonlight. So SDN, help me out. What should I be asking the doc before agreeing to moonlight??

These are some of my thoughts/questions:
1 What is the daily rate/pay for the day? (obv the most impt question )
--> in relation to this question, anyone have personal experience on how you were paid when moonlighting? cash? under the table? did you fill out tax forms W2 or is it W4?

2 Do you go to the docs office and observe how things are run First before moonlighting there?
--> I assume the doc would want you to know how their office runs. Maybe have you come in to shadow for a few hours? WOULD YOU/I be paid for those hours of shadowing?

3 Is there some contract or usually verbal agreement?

These are all the things I can think of right now. I would REALLY APPRECIATE ANY HELP YOU GUYS CAN GIVE ME

Why did you decide to do a residency?

 

[KHE]

Ask to be covered under the office malpractice insurance. Otherwise you'll have to buy your own and it might not be worth it if you're only working one day a week.

 

[mclem222]

great point by KHE... + 1

 

[Tippytoe]

And remember (usually) legally YOU CAN NOT BE AN INDEPENDENT CONTRACTOR as an optometrist. To apply as an independent contractor according to the IRS, you must provide your own equipment, make your own hours and pretty much run your own show as long as you get the job done.

An example of an independent contractor would be something like a house painter. You hire them to paint your house but you do not tell them what time to do it, how to do it, or what kind of paint to use.

A hired OD is almost always an employee because your equipment is provided and hours are specified. Historically, ODs have frequently (illegally) paid employeed ODs as independent contractors and still do today when they are clearly employees. They do this to save tax money, putting it on your shoulders.

Don't let someone hire you as an independent contractor (unless you are lugging around your own exam chair and phoropter). It's unlikely you will get caught. But I wouldn't want to risk it.

http://www.comptroller.ilstu.edu/downloads/20-factor-test-for-independent-contractors.pdf

 

[Tippytoe]

Also, my state (and I assume many/most others) require you to pay to get a branch license to display at any office you're working in.

 

[Jibslider]

Good luck getting the OD you're filling in for to hire you as an employee. If you end up as an independent contractor, which is likely, you will need to get a business license as well. You may also have to pay "special" taxes that businesses only have to pay such as tri-county taxes along with your state and federal taxes.