If your income will be reported on a 1099Misc that means that instead of being an employee, you are considered to be an independent contractor. They will issue the 1099Misc in January. You will have to pay self-employment tax of 15.3% on the earnings for Social Security and Medicare, as well as ordinary income tax. They will not withhold anything for SS, Medicare or federal or state taxes so you will have to pay at income tax time. You will want to start saving some of your pay toward that upcoming tax bill or perhaps pay an estimated amount beforehand, depending on how much you expect to owe.
https://ttlc.intuit.com/questions/2893577-does-a-1099-misc-mean-i-m-self-employed
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://ttlc.intuit.com/questions/2584365-am-i-an-employee-or-an-independent-contractor
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
