So I'm nearing graduation and have been on a job search in a field that's related to my aspirations and degree. I have luckily landed an internship that will be offering me a job. My interviewer informed me that this is a subcontracting position and went on to explain deductions etc but didn't go much into what contracting really meant or what 1099 forms were (besides the fact that taxes are paid on my own for the most part).
Here are a couple questions I'm hoping to get answered!
1) Where can I find the most well explained information on 1099 forms and what they entail. Being relatively new to almost the real world there are a lot of terms that are not familiar to me and I'm wanting to expand my knowledge.
2) I've heard some bad things about being contracted and the disadvantages that follow. I pay all expenses for living by myself alongside my girlfriend so I need to know that I at the rate they offer me that I will be able to cover myself for a living.
Thanks, let me know if clarification is needed!