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What is a 1099 non employee position?

I am interested in a position I just saw in my local newspaper and I emailed my resume and references to the address provided.

I then received a confirmation email stating this is a is a 1099 non employee position paying a base fee plus incentive bonuses.

Just thought I would ask you guys.

Thank you.

 
Susan0976

Asked by Susan0976 at 2:43 PM on Feb. 3, 2009 in Money & Work

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This question is closed.
Answers (4)
  • Means you have to pay your own taxes. You get paid what you get paid and you are responsible for making sure you take taxes out of your own pay. "independant consultants, Loan Officers, sales and the like, etc are those sort of jobs..
    mamakirs

    Answer by mamakirs at 2:47 PM on Feb. 3, 2009

  • normally the suggestion is to take 30% out of each pay check and stash it into a savings account for tax purposes....
    mamakirs

    Answer by mamakirs at 2:47 PM on Feb. 3, 2009

  • LIke mamakirs said. You will be considered an "independent contractor" and at the end of the year you will get a 1099. You are responsible for paying your own social security and medicare taxes (it's all computed on your 1040). We recommend our clients to set aside a % into a high interest savings acount so the money is avaible at the end of the year. It's also acceptable to make Estimated Payments throughout the year. But unless your income is really high, we recommend the savings account so you can earn interest on your own money.
    Anonymous

    Answer by Anonymous at 2:50 PM on Feb. 3, 2009

  • Thank you all soooo much for this information.
    Susan0976

    Answer by Susan0976 at 2:57 PM on Feb. 3, 2009