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Intro to 1099s: Why You Owe So Much Tax
So, you got a new job. Hurray for you! Your new boss said that you're going to be an independent contractor. What does that mean? If you don't understand your situation and plan ahead, that can mean a very large and unexpected tax bill. Below are just a couple of the common questions that are asked of me with regard to independent contractors and 1099s. "What is an independent contractor and how is that different from all my previous jobs?" The first time I was hired as an in