sccas
Employee Tax Expert

Self employed

Great Question.  Remember that being paid via a 1099 is a very different than  being paid as an employee.  Don't forget to set aside money from each paycheck if possible for your self employment tax (Rate 15.3 %)  I recommend to set aside 20% since you are in California and most likely will also have state taxes to pay:(

Filing a schedule C will allow you to deduct expenses that are necessary and ordinary to your line of work.  Having the right mind set is the key as most self employed people "normally"  pay. I dont know all the specifics to your case, but I assumed no kiddos :(

 

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