New Grad - no taxes taken from pay

So I'm a new grad who just started in LTC via agency (and i absolutely love it!! lol). The agency will not be taking taxes from my pay, and I asked them what I should do so I won't end up owing a bunch, and they simply said "I don't know." So I guess I'm on "self-employed" status, and no one seems to know what to do or how I would calculate the amount of taxes that would be taken out from my pay. I WILL be responsible for taxes and I'm trying to get this controlled now, so... help?? lol..

P.S. This is my first real job ever so I'm new to all this W-4, W-2 and all that other "W" stuff lol, but I'm figuring it out.
Ask them if you will be receiving a 1099. Self-employed people receive 1099s instead of the W-form series. If you are receiving a W-2 then the following doesn't apply.Self-employed people must pay all the regular taxes you are accustomed to - federal, state income taxes, social security, FICA, etc but they pay all these plus an additional tax. They have to pay self-employment tax which is the employee's/employer's share of social security/FICA. Self-employment tax is roughly 15%.Self-employed people should make estimated quarterly payments to the IRS. I'd recommend you see an accountant or other tax person about this. I'd also be surprised if this status is to your benefit and if a nurse working as you describe actually meets the IRS criteria for being a self-employed worker. There are some employers who are making their workers self-employed 1099 status to shirk costs and shift them to their workers when they do not even meet the IRS criteria. I'd also guess you aren't covered by worker's comp if you are on a 1099 self-employed status. I sure wouldn't want to be doing the physical work in LTC and not be covered by worker's comp in the event something happened.

This is nonsense - - did you sign paperwork stating you are strictly a contract worker? If the agency doesn't take your taxes out, ask them why. If they do it for their inhouse workers, they should be able to do it for you. Find another agency quick that will take care of your taxes - or you will be in a taxpayer's nightmare. From your post, it doesn't seem that you were expecting to have to keep track of all of this. If you really want to stay with this agency, find a tax advisor NOW.Best wishes!

be careful with them NOT taking taxes b/c it could come back to haunt u. The IRS is tough...and they wont go away if they audit u..they can garnish your wages...enter your bank accounts..seize your possessions etc.If u cant keep track of it...i suggest you go with an agency that takes out taxes or get a job as a staff nurse....its safer...and peace of mind come tax time.I only made 20,000 part time in 2008 while i was in nursing school..and i got an audit letter for my 2007 taxes and i have them take out my taxes...so think about what could happen to you...p/s...how can an employer say "i dont know" when asked about taxes...thats NOT a good sign...

I know. I got scared when he said "I don't know" too. He did mention that I will get a 1099 form at the end of the year, but I'm not quite sure what that is. I signed a W-4 form with the LTC facility, and I barely know what that is. Does anyone know how can I put aside my taxes on my own?? How would I estimate it?

Quote from MulticollinearityRNAsk them if you will be receiving a 1099. Self-employed people receive 1099s instead of the W-form series. If you are receiving a W-2 then the following doesn't apply.Self-employed people must pay all the regular taxes you are accustomed to - federal, state income taxes, social security, FICA, etc but they pay all these plus an additional tax. They have to pay self-employment tax which is the employee's/employer's share of social security/FICA. Self-employment tax is roughly 15%.Self-employed people should make estimated quarterly payments to the IRS. I'd recommend you see an accountant or other tax person about this. I'd also be surprised if this status is to your benefit and if a nurse working as you describe actually meets the IRS criteria for being a self-employed worker. There are some employers who are making their workers self-employed 1099 status to shirk costs and shift them to their workers when they do not even meet the IRS criteria. I'd also guess you aren't covered by worker's comp if you are on a 1099 self-employed status. I sure wouldn't want to be doing the physical work in LTC and not be covered by worker's comp in the event something happened.

Quote from newboyI know. I got scared when he said "I don't know" too. He did mention that I will get a 1099 form at the end of the year, but I'm not quite sure what that is. I signed a W-4 form with the LTC facility, and I barely know what that is. Does anyone know how can I put aside my taxes on my own?? How would I estimate it?

Quote from newboyI know. I got scared when he said "I don't know" too. He did mention that I will get a 1099 form at the end of the year, but I'm not quite sure what that is. I signed a W-4 form with the LTC facility, and I barely know what that is. Does anyone know how can I put aside my taxes on my own?? How would I estimate it?

I strongly suggest that you find another employer that makes you an emolyee and handles your tax withholding. The situation you are in now can become a real nightmare (been there, done that).

Call the local IRS and ask them what you should do. Even if someone on this forum has experience and offers some to you, many of us don't know about state taxes, etc. of your local state and municipality.

Yes, OP. I was self-employed for many years... save all receipts.But don't call your local IRS (are ya nuts?) But do find an accountant. You will need to get a handle on this early if you end up staying self employed. An accountant will get you on the right track to avoid penalties. You see you can do most of the tax part yourself once you are set up and understand it all.

I do agency work and they take taxes out of my paycheck. You are an employee of the agency. Also, I believe an employer pays some portion of your SS or some other tax. If you are considered self employed I think you may also have to pay extra in taxes.This is another topic, but, you're a new grad doing agency. I didn't think agencies hired new grads. I'd be afraid of doing agency work as a new grad. You really learn a lot in your first couple years of nursing that you don't have as a new grad.

I work for a Home Health agency and they do not take out my federal taxes. They do take out for state though. I do not get a 1099, I do get a W2 and under the federal section is just says $0.00You can make estimated tax payments if you prefer not to pay it all at tax time I believe. I'm sure IRS.gov has a form you can use to submit payments and when they accept them. ??? Hope that helps