<prompt> Human: Some background: This whole scenario is shady hence the throwaway. My company realized they were paying an exorbitant amount on my healthcare multiple thousands a month and decided that wasnt going to fly. So because I missed open enrollment, changing plans wasnt an option, and instead they chose to fire me, walk me through finding a new, cheaper yet comparable healthcare plan, and from here on out I will be payed as a 1099 employee with an ahem increased expense account limit where my expenses cannot exceed 70 per line itemthe 70 bit has only been told to me, if anyone knows the true max line item amount NOT requiring receipts please enlighten me. I negotiated a small raise, and now I make slightly more money 26,000 not including expenses modest commission. Ive been warned that I will have to put my previously withheld tax amount away until I pay the IRS next tax season.My Question:Now that I have to put money away in order to pay taxes at the end of the year myself, what can I do with that money in order to make it work for me? Any options would be welcome. Frankly the way I see it, Ill be damned if I have to just watch these future IRS dollars rack up in an account untouched. Some ideas that have come to mind:- Savers Tax Credit? Ive not opened a retirement account yet of any kind, just simple checkingsavings accounts. I dont know how to meander that money away to the IRS after the credit is applied though.- Pay Monthly and just log that for end of year? Thanks in advance.EDIT: We sat down prior to this event and drew up how I would be classified as 1099 - nonetheless Im posting a similar question in rlegaladvice EDIT: Looks like I get to research some stuff about labor taxes... Anyone in Texas hiring?jokeEDIT: Thanks for bringing up the FICA issue- Im looking into it.EDIT: Leaving this job would blow; I enjoy a bunch of perks. Regardless if it comes to it, Ill look at other avenues.Thanks so much for everything, PF. I gotta get some work done, but Ill definitely be back or post an update if need be.  <response>: Start looking for another job. If they are willing to commit fraud, you probably dont want to stay there.You cant just choose to call anyone a 1099, you need to meet criteria. If the IRS catchs this it will be clear that you are doing the same job, same role, same responsibilities and only a paper change of status. Trouble for all around, do you want to be involved in this? Once you have another job lined up you can report this. 