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If I accept a 1099 independent contractor job, is there anything I need to do right away as far as taxes go? Should I just set aside money for next year's tax filing?
I am considering getting a second job and most of the positions that fit my schedule are 1099 independent contractor jobs. I also have a full time W2 position with another company. Would I need to begin making estimated tax payments right away or will that go into effect after I file taxes next year (for 2024)? Are estimated tax payments required or are they optional? I don't want to accept a position and then find myself in trouble later on.
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‎February 23, 2024
9:38 AM