Filing Taxes

[bkuni]

Hello. I finished a 24 year career in the US Army and have never had any other job until this year. I just started a job in JAN 2022 whereby I get paid as a contractor (1099). What are the essential things that I should be doing or thinking about when preparing for taxes? For example, I know that I should be setting aside some portion of my monthly income for taxes. I have heard that 1099 contractors should be paying the IRS quarterly and that if one doesn't there is a penalty. I'm currently not giving anything to the IRS on a quarterly basis. Can you think of any other action items I should be doing now, or other things I should be thinking about? Thank you.

[xmasbaby0]

SELF EMPLOYMENT INCOME/“side jobs”

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs