Signing a new job contract

[wolfdvm]

A few questions...

I was offered a job that has a one year contract. Has anyone had a lawyer look over it for them or did they just sign it?

Also, anyone have an idea on what the average discount is for services for an associate veterinarian? My contract says 20% off. I can't imagine having to pay 80% of the cost of a procedure I'm performing myself. I can understand paying for materials/anesthesia/etc...it just seems a bit low to me.

Thanks!

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[katryn]

I had a lawyer look over mine, but I'm related to her. Not sure how standard it is to actually pay someone to look at it.

Our discount is 35% (plus the fact that on production, I pay myself back a percentage of everything I do).


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[JaynaAli]

I can't comment on the contract since I went the internship/residency route, but my discount as a resident at a university is 20%. Luckily I know the other private specialty/ER hospital in my town gives veterinarians 50% off if My dog was ever in need of a real workup or procedure. When I was a VCA intern, the discount for veterinarians was great...I guess a large corporation can support that. I think it was 100% discount for procedures you do yourself on your own time and cost or 50% on most medications, free vaccines, and 50-75% off specialty and ER care.


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[CalliopeDVM]

A few questions...

I was offered a job that has a one year contract. Has anyone had a lawyer look over it for them or did they just sign it?

Also, anyone have an idea on what the average discount is for services for an associate veterinarian? My contract says 20% off. I can't imagine having to pay 80% of the cost of a procedure I'm performing myself. I can understand paying for materials/anesthesia/etc...it just seems a bit low to me.

Thanks!

If you're in the US, the 20% is related to IRS rulings -- I think any greater of a discount becomes taxable (i.e. you must report the value of your discount as income on your tax return).

 

[DVMDream]

If you're in the US, the 20% is related to IRS rulings -- I think any greater of a discount becomes taxable (i.e. you must report the value of your discount as income on your tax return).

This. I get more than 20% but have been well informed that I have to report that as income.

 

[WhtsThFrequency]

I can't comment on the contract since I went the internship/residency route, but my discount as a resident at a university is 20%. Luckily I know the other private specialty/ER hospital in my town gives veterinarians 50% off if My dog was ever in need of a real workup or procedure. When I was a VCA intern, the discount for veterinarians was great...I guess a large corporation can support that. I think it was 100% discount for procedures you do yourself on your own time and cost or 50% on most medications, free vaccines, and 50-75% off specialty and ER care.


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Jeez. Y'all are lucky. I get a 0% discount.

 

[katryn]

This. I get more than 20% but have been well informed that I have to report that as income.

Does it show up on your W2? Or do you add it in somewhere? I vaguely new about this, but don't think I've actually reported it the last 2 years.....


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[Bill59]

If there is anything, and I mean anything, in the contract you don't fully understand, it would be well worth your time and money to run it by an attorney who can explain it to you.

My contract says 20% off. I can't imagine having to pay 80% of the cost of a procedure I'm performing myself.

Then do the procedure on your own time with your own equipment. If you are doing it "on the clock" using hospital facilities, hospital equipment and hospital personnel, the hospital is probably breaking even or losing money.

 

[DVMDream]

Does it show up on your W2? Or do you add it in somewhere? I vaguely new about this, but don't think I've actually reported it the last 2 years.....


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I'm not sure how it works out. Haven't seen it on my W2, not sure how they report it or if I'm required to at tax time. I know they have to report it because they weren't in prior years and got some wrist slapping.