Thank you @Critter-3 and @fanfare for your quick responses. Yes I'm new to self employment and was not incorporated or never in a partnership
I read through the IRS links and understood that I need to keep my own bookkeeping and pay SE taxes such as Social security and Medicare and estimate withholdings according to my tax bracket, make quarterly payments and all the good stuff.
Now that it's a bit clear, I'm trying to decide if I should start a limited liability company and work under that LLC for 1099 contacting job. Please suggest.
Thank you!
