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Getting paid

 
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scottnilsen
King's Row


Joined: 12 Jul 2007
Posts: 1170
Location: Orange County, CA

PostPosted: Sun Sep 02, 2007 8:40 am    Post subject: Getting paid Reply with quote

It's such a feeling of relief when clients who are overdue with payment finally get it to you. Had a couple get their accounts squared away the last couple of days, leaving me with only one situation/job that is overdue. I don't think I'm going to see that check, but I try to console myself with the fact that it wasn't all that much.
I am not sure if this topic has been brought up on this board or not, but if a client does not pay, does it qualify on your taxes as a "bad debt" or something like that?
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Brett Mason
Backstage Pass


Joined: 03 Jul 2007
Posts: 491
Location: Tidy Town, NC

PostPosted: Sun Sep 02, 2007 8:51 am    Post subject: Reply with quote

With the caveat that I do not give tax advice...why not get it from the horses mouth...the IRS....(or whatever part of the horse you assign to them)...see---->HERE
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zrktoots
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PostPosted: Sun Sep 02, 2007 11:17 am    Post subject: Reply with quote

I've had to run after money myself and it's a pain in the a--. Fortunately, unless you got an extension and are filing your 2006 taxes late, you won't have to worry about it until next year. So let's all send some energy in the direction of your client to make him feel guilty for stiffing you and others. Maybe you'll see the money before you have to file next year.

By the way, there's a guy on the Yahoo VO forum who's keeping a deadbeat client file. If you're willing divulge the culprit, maybe you should consider putting up a post there so he can add it to his list.

Arlene
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Deirdre
Czarina Emeritus


Joined: 10 Nov 2004
Posts: 13023
Location: Camp Cooper

PostPosted: Sun Sep 02, 2007 12:30 pm    Post subject: Reply with quote

There's another VO Forum?


We've had a number of discussions here about deadbeats. One thing we don't have is an online list of losers. There is too big a risk of legal trouble if I keep a Suck List on the board. Occasionally, someone will post an "it's such a shame" note mentioning trouble with a particular client— just that it's a shame that they've gone past reasonable time to pay an invoice.

Look up 'deadbeat' in search and see what you come up with.
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CWToo
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PostPosted: Sun Sep 02, 2007 5:38 pm    Post subject: Reply with quote

Did I ever tell you the story about the agency bookkeeper that called me to say that I was such a good subcontractor that I was moved up from Pay in 120 days to Pay in 90 days?

I was thrilled.
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bobsouer
Frequent Flyer


Joined: 15 Jul 2006
Posts: 9883
Location: Pittsburgh, PA

PostPosted: Sun Sep 02, 2007 9:02 pm    Post subject: Reply with quote

Chris,

You know, when you think about it, that's quite a compliment. I mean, they're giving up 3 months of interest on your money, after all. Wink
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Frank F
Fat, Old, and Sassy


Joined: 10 Nov 2004
Posts: 4421
Location: Park City, Utah

PostPosted: Sun Sep 02, 2007 9:25 pm    Post subject: Reply with quote

Bob has a good point. I ALWAYS charge interest, it's likely your client does also... and probably a late penalty also....

Thimk!

F2
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zrktoots
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PostPosted: Mon Sep 03, 2007 12:06 am    Post subject: Reply with quote

There's no reason why talent shouldn't charge interest. I'm sure the guys who aren't paying us charge interest when they don't get paid net30.


Arlene
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Yoda117
M&M


Joined: 20 Dec 2006
Posts: 2362
Location: Philadelphia, Pennsylvania

PostPosted: Mon Sep 03, 2007 10:19 am    Post subject: Reply with quote

I know that I do.
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bobbinbeamo
M&M


Joined: 05 Mar 2007
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PostPosted: Mon Sep 03, 2007 7:33 pm    Post subject: Reply with quote

One of my favorite lines from a client, who was around 90_ days, said, "You have been selected to go into next week's check run".

Like I was in line for a lotto ticket! Jackpot, finally gonna get paid. Note to self: Next time their price gets 'skyed.' Build in the collections hassle factor.
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CWToo
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PostPosted: Tue Sep 04, 2007 5:58 am    Post subject: Reply with quote

bobsouer wrote:

You know, when you think about it, that's quite a compliment. I mean, they're giving up 3 months of interest on your money, after all. Wink


Glad to hear that my money is working so hard for someone else!

And on that topic, do you know how Wal-mart really makes its money?

Everything on their shelves is sold within ten days and they pay their suppliers in thirty days. This gives them 20 days to invest the money. The article about this called Wal-mart, "a thinly disguised bank."

By the way, I don't charge interest. It's just another lagniappe for doing business with me. I mean, there has to be some reason to, right?
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KaraEdwards
M&M


Joined: 21 Feb 2007
Posts: 2374
Location: Behind a mic or camera, USA

PostPosted: Tue Sep 04, 2007 6:35 am    Post subject: Reply with quote

A regular client I had muliple outstanding checks with got confused and thought he was writing one check for a new invoice, while forgetting to pay the previous. Since they were all the same amount, I applied them to the previous. Made for a huge headache when he thought he was paid up and wasn't.

Business lesson #147 learned the hard way- always write down the check number and make a copy when you can to match it to the correct invoice.
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Diane Maggipinto
Spreading Snark Worldwide


Joined: 03 Mar 2006
Posts: 6679
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PostPosted: Tue Sep 04, 2007 7:47 am    Post subject: Reply with quote

Quote:
lagniappe
nice one, chris!

Quote:
do you know how Wal-mart really makes its money?

definitely not from me. i've been in twice, ever. one time i felt nauseated!

Quote:
I try to console myself with the fact that it wasn't all that much.

yeah, but i'd still be a thorn in their side about it. nag, nag, nag
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