1099 Employee

[msil]

What does it mean to be a 1099 employee and how will this affect my taxes and refund if I’m also a full time employee from another company?

[xmasbaby0]

ALL of your income must go on the same tax return.  Expect to pay self-employment tax for Social Security and Medicare, and possible ordinary income tax on the self-employment income.   You will need either any version of the CD/download software or Self-Employed if you use online TurboTax.

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[R-SchuleCPA]

1099 employee are commonly referred to as independent contractors, which comes with the tax responsibility of paying both income tax and self-employment tax on net income from self-employment earnings.  Income tax is dependent on your prevailing tax rate from all sources of income. Self-employment tax, which is FICA and Medicare for the self employed is taxed at 15.3%,