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Independent Contract work - What should I know?

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Rosie Walunas
Independent Contract work - What should I know?
on Aug 5, 2011 at 7:34:45 pm

I recently graduated college, moved to NYC, and just finished my first full-time payroll gig for an extremely well-known company. I'm starting a new job at another company where I will essentially be an independent contractor. The person heading the company has been in the biz a few decades and has well-known credits.

I've done the in-voice thing before, but it was never for enough money that I had to consider taxes. Obviously I will probably end up taking on more of this kind of work.

What should I know about taxes?
What should I expect as a worker? What should I watch out for?
Tips on budgeting (not about spending or not spending money)?
Should I buy health care when I am no longer on my parents'?


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