Independent contractor working for insurance company at home

1 I will be working for a Long Term Care Insurance Company as an RN doing risk assessments for members applying for long term care insurance. I will be responsible for doing my own taxes and the company will send me a 1099 from at the end of the year. I am not sure what is required on my part to do this correctly. Do I need a Federal ID number, State ID number and how does one go about doing that. I have never been an independent contractor before. The company just needs my SS# and they are not asking that I have a Federal/State ID. I want to do this legally and correctly. Can anyone give me some guidance on where to begin? I will be working at home in the State of Arizona, but will be able to work anywhere in the U.S.
You could ask a professional tax preparer for advice if you don't want to pay all of the fees. Maybe they would do a free consultation?

And congrats on the job!

Thanks for the idea to contact a tax preparer. I had thought of contacting an accountant, but I will try both. Do you know if I would require a tax id? Guess I can find that out also. Thanks again and congratulations on getting your LPN license!

No problem! Ty too

I worked as an independent contractor for a while (for my previous non-nursing employer while applying to nursing positions after graduation from NS) -- since I was the sole "employee" of my consultancy "business", I did not need a tax id other than my own SSN. I looked up info online about how to do the taxes.

Personally I'd suggest a CPA over a tax preparer. CPA's are licensed, minimum of a bachelor's degree and legally responsible for the advice they give. Tax preparers can be anyone who takes a class.Know that you will be responsible for paying quarterly income taxes to the IRS and/or your state. There are many documents available at irs.gov if you do a search for independent contractor:http://search.irs.gov/web/query.html...x=0&search.y=0Independent contractor defined by the IRS: http://www.irs.gov/businesses/small/...179115,00.html

Been doing this for years. Have never made enough to file quarterly. This is not usually a guaranteed income. Very sporadic - - most I ever did was 5 in one week, and have gone months without any.Keep a spread sheet for your mileage.Best wishes!!