Tired of blood sucker employer

[ItIsNotFunny]

Guys,

I have registered a company. Main goal is to avoid blood sucker employer(s) who suck 30% of your hard earned money doing nothing. PM me if you wanna join the pool.

[texcan]

good for you, way to go.

I might do the same in few months.

[ScratchingHead]

Guys,

I have registered a company. Main goal is to avoid blood sucker employer(s) who suck 30% of your hard earned money doing nothing. PM me if you wanna join the pool.

I prey to god you don't eventually become one of the blood sucking monster. Its the lure of the green bills that change a noble soul to a monster. Only time will tell!!!!

[iluvgc]

Guys,

I have registered a company. Main goal is to avoid blood sucker employer(s) who suck 30% of your hard earned money doing nothing. PM me if you wanna join the pool.

whts ur plan?

[ItIsNotFunny]

I prey to god you don't eventually become one of the blood sucking monster. Its the lure of the green bills that change a noble soul to a monster. Only time will tell!!!!

Looks like there is a little misunderstanding. This I have created so that I and some of friends can use a pool. Planning 95% retainer to the guy (including all expenses :)).

[ScratchingHead]

Looks like there is a little misunderstanding. This I have created so that I and some of friends can use a pool. Planning 95% retainer to the guy (including all expenses :)).

Ohhhhhh! maybe this is a new way of attracting potential "consultants" from this forum.....wonderful!!!
If you are so good natured, why keep 5%...give 100% all to the fellow victims of Desi blood sucking Employers. Just calculate whatever the expenses for SStax, retain only that portion.....and its definitely not a flat 5%.

U R A Smarta$$ to come here and prey on unsuspecting souls.

[ItIsNotFunny]

Ohhhhhh! maybe this is a new way of attracting potential "consultants" from this forum.....wonderful!!!
If you are so good natured, why keep 5%...give 100% all to the fellow victims of Desi blood sucking Employers. Just calculate whatever the expenses for SStax, retain only that portion.....and its definitely not a flat 5%.

U R A Smarta$$ to come here and prey on unsuspecting souls.

I understand what you say. That 5% is for company related expenses like yearly state tax, tax filing, basic company maintenance like payroll etc. This is a pool. If you think I am making profit from that 5%, please do the math.

[ScratchingHead]

I understand what you say. That 5% is for company related expenses like yearly state tax, tax filing, basic company maintenance like payroll etc. This is a pool. If you think I am making profit from that 5%, please do the math.

I have seen so many, believe me, who start of with this "5%" generosity then going on to become the "blood sucking company". You are not new and doing anything different...

[ItIsNotFunny]

I have seen so many, believe me, who start of with this "5%" generosity then going on to become the "blood sucking company". You are not new and doing anything different...

May be you are right. Who knows about tomorrow. For now intentions are clear in writing under contract :).

[optimystic]

May be you are right. Who knows about tomorrow. For now intentions are clear in writing under contract :).

What will eliminate any element of lingering doubt is if someone can come up with some kind of concept like "Consulting Employees Union". Not to be confused with labor union etc.....but more in the spirit of how Federal Credit Unions differ from Banks... Credit unions are owned by the members themselves...and they are not for the profit of owners/shareholders etc like in the case of a bank....All the profits are passed along to members.

Similarly What if one comes up with a concept of a "Employee Owned Consulting Company" EOCC :D

There might be lot of legalities involved like can a employee working on EAD or H1 or whatever for such a company can be a 'owner' (in part..however small that part may be) of that company....and still not violate any USCIS rules/regulations etc...

Sure there may be costs to run such a company...which may come from a variable (exactly what was spent), or flat fee/percentage deducted from employee pay. It could be 5% or less or more. And people wouldn't have any issue with that...As long as its not owned by a single/group of founding fathers who may eventually fall prey to the lure of dollars !

[ItIsNotFunny]

What will eliminate any element of lingering doubt is if someone can come up with some kind of concept like "Consulting Employees Union". Not to be confused with labor union etc.....but more in the spirit of how Federal Credit Unions differ from Banks... Credit unions are owned by the members themselves...and they are not for the profit of owners/shareholders etc like in the case of a bank....All the profits are passed along to members.

Similarly What if one comes up with a concept of a "Employee Owned Consulting Company" EOCC :D

There might be lot of legalities involved like can a employee working on EAD or H1 or whatever for such a company can be a 'owner' (in part..however small that part may be) of that company....and still not violate any USCIS rules/regulations etc...

Sure there may be costs to run such a company...which may come from a variable (exactly what was spent), or flat fee/percentage deducted from employee pay. It could be 5% or less or more. And people wouldn't have any issue with that...As long as its not owned by a single/group of founding fathers who may eventually fall prey to the lure of dollars !

I like the idea of Union kinda organization. We are talking about this for long time. Gotta do something rather than sitting idle.

[ItIsNotFunny]

There is nothing called a good consulting company. You have opened one to suck the blood of of others. It is just your marketing ploy to post on this website to sweetly market yourself.

Consulting business is like ragging that people did in colleges. In the first month all new students hated it and said they will never do it when they will become seniors. But from year 2 when they became seniors they all did ragging.

So people get greencards and start their own consulting business to continue the tradition of blood sucking.

These members try to post on IV website about their company and get emplyees. If their post is deleted, they will start posting negative about IV on their site and other sites.

I request admin to ban such people on this site. We need to do the right thing rather than allow sharks on the site.

Intentions are not bad. I am open for 100% candidate keep if all company related expenses are shared among all of us who join the pool.

[lvinaykumar]

There are lot of companies who do 90-10 already who are well established. 5% is not going to make any difference with the amount of risk ppl willing be taking.

There are lot of risks going with a smaller companies like DOL and IRS audits.

Lets say there are fines for some reason. Who is going to take care of these things... The costs might look small but in the long the the amount of time you spend saying that 5% and the amount of work you end up doing is not worth it..

Say if you bill rate is 80$ and you will be saying 4$ per hour... which is i fell is better then taking risks..

[ItIsNotFunny]

There are lot of companies who do 90-10 already who are well established. 5% is not going to make any difference with the amount of risk ppl willing be taking.

There are lot of risks going with a smaller companies like DOL and IRS audits.

Lets say there are fines for some reason. Who is going to take care of these things... The costs might look small but in the long the the amount of time you spend saying that 5% and the amount of work you end up doing is not worth it..

Say if you bill rate is 80$ and you will be saying 4$ per hour... which is i fell is better then taking risks..

I actually looked for such company with 90%. I found couple of them but they ended up asking more than 10%. If you have some suggestions please let me know.

[newbie2020]

Anyone who says 95% is just bluffing.

Here is why

Billing rate: $100
95%: $95

The payroll taxes comes to 8.45% + Payroll running expense+Insurance (appx 2000/yr)+ H1B expense+GC/Labor expense+Administrative expense(utilities, postage, rent,accountant fees, Lawyer fees etc)+Taxes+incorporation fees/State FUTA/

Do u think it would cover with 5% NOPE....
A lot of consultants have this wrong impression that their employer is blood sucking and taking a 10-20% of the billing for nothing, Just look at the above expenses you will know. Again i am not supporting employers keeping a better rate, it is their business if you are not comfortable with them I suggest move on.

[ItIsNotFunny]

Anyone who says 95% is just bluffing.

Here is why

Billing rate: $100
95%: $95

The payroll taxes comes to 8.45% + Payroll running expense+Insurance (appx 2000/yr)+ H1B expense+GC/Labor expense+Administrative expense(utilities, postage, rent,accountant fees, Lawyer fees etc)+Taxes+incorporation fees/State FUTA/

Do u think it would cover with 5% NOPE....
A lot of consultants have this wrong impression that their employer is blood sucking and taking a 10-20% of the billing for nothing, Just look at the above expenses you will know. Again i am not supporting employers keeping a better rate, it is their business if you are not comfortable with them I suggest move on.

I second you. Thats why I said, it should be like a pool. Keep 100% and share expenses :)

[newbie2020]

I second you. Thats why I said, it should be like a pool. Keep 100% and share expenses :)

You cannot do that as well since who will be taking the responsibility, Everyone wants to get 100% but when it comes to expenses people just hesitate to pitch in....How many times it hasn't happened that you go for a Dutch lunch and people start arguing oh i am veg why should i pay for that curry chicken ;) and so on.......

An ideal union will have these features

a) Transparency in operation - Everyone knows what are the expenses, whats the collection

b) Manager compensation set aside - You cannot expect someone to take responsibility and risk, You need to set aside some compensation for those people taking responsibility say 5%

c) Support members aspirations- Hey We all want GC/H1/AC21 so on...:)

d) Build it as an asset for tomorrow- Here is the investment tomorrow it will be handy for your future.

e) Balancing act- AP/AR doesn't happen as outlined in any contracts Have you ever got paid on time per contract..... delays always happen however the members cannot wait until collections are done...before they want to get paid. How do u balance it out.

f) Misc provisions - Can we get compensated for any new business one drives etc...


By the way running a company is lot more complex than you dream,......IRS/DOL/State agencies/Insurance/USCIS thats just the beginning and thats a lot of risk as well....

[ItIsNotFunny]

You cannot do that as well since who will be taking the responsibility, Everyone wants to get 100% but when it comes to expenses people just hesitate to pitch in....How many times it hasn't happened that you go for a Dutch lunch and people start arguing oh i am veg why should i pay for that curry chicken ;) and so on.......

An ideal union will have these features

a) Transparency in operation - Everyone knows what are the expenses, whats the collection

b) Manager compensation set aside - You cannot expect someone to take responsibility and risk, You need to set aside some compensation for those people taking responsibility say 5%

c) Support members aspirations- Hey We all want GC/H1/AC21 so on...:)

d) Build it as an asset for tomorrow- Here is the investment tomorrow it will be handy for your future.

e) Balancing act- AP/AR doesn't happen as outlined in any contracts Have you ever got paid on time per contract..... delays always happen however the members cannot wait until collections are done...before they want to get paid. How do u balance it out.

f) Misc provisions - Can we get compensated for any new business one drives etc...


By the way running a company is lot more complex than you dream,......IRS/DOL/State agencies/Insurance/USCIS thats just the beginning and thats a lot of risk as well....

I guess we are talking about the same thing. See my previous posts (5%)

[copsmart]

By the way running a company is lot more complex than you dream,......IRS/DOL/State agencies/Insurance/USCIS thats just the beginning and thats a lot of risk as well....

I agree, "Ability to Pay" issue is one good example when it comes to processing GC.

It might sound funny, but this is what I think.

How about registering the company as a non-profit organization and start collecting funds for the victims affected by blood sucking employers? Once you have enough money to cover the operating expenses, you can start hiring people and pay 100%. You can continue fund rising to run your business, your employee would be a better source to start with. :)

I am not sure if you can start a non-profit consulting company though.

[ScratchingHead]

Guys,

I have registered a company. Main goal is to avoid blood sucker employer(s) who suck 30% of your hard earned money doing nothing. PM me if you wanna join the pool.

If you are tired of blood sucking employers, COME OUT!!!

You don't have to be a rocket scientist to figure that out.