Residuals

[scagnt83]

I still don't understand how agencies get away with calling what you described an "independent contractor".

It sure sounds like you're an employee.

Just had a convo about this yesterday.

A cleaning company owner had all 1099 employees.
Company provided all supplies.
Company dictated the schedule.
Company dictated what the employee does, how they do it, and when its done.

The owner's old accountant was fine with that set up. The new CPA was not. Plus, she wanted to give them all benefits. But couldnt understand why they had to be W2 employees.

Those employees need to report her to the DOL and IRS. DOL would actually FORCE her to repay the employees lost FICA taxes they paid out of pocket. Not to mention the lack of WC coverage.

 

[cbarrera5428]

.
Sorry, another question.
Did you sign the apps or did you bring them back for him to sign?

As I said, been there.

seen one residual in 3 1/2 years. I was new and didn't even know we are paid on renewals, this was never discussed. The apps are electronic and automatically populate my info but also his as I work under him. Not sure if that helps. He doesn't sign anything.

 

[cbarrera5428]

.
Sorry, another question.
Did you sign the apps or did you bring them back for him to sign?

As I said, been there.

seen one residual in 3 1/2 years. I was new and didn't even know we are paid on renewals, this was never discussed. The apps are electronic and automatically populate my info but also his as I work under him. Not sure if that helps. He doesn't sign anything.

 

[Newby]

80% of the annual premium. Allstate pays my boss 63% of the AP and then he gives me 80% of that. We get no benefits, no other perks or compensation.

80% of the annual premium would be 80% of the entire annual premium. Not 80% of 63%.

 

[AtticusAmber]

Hi. My agency does joint work writing life policies with Lincoln, Symetra, Nationwide and Penn. We split all commissions and renewal commission 50/50. You refer cases to us and we do all of the heavy lifting. We're a remote agency and can write business in any state. Let me know if you're interested in doing some joint work.