<prompt> Human: Just began a new side job tutoring elementary school students at a SATtutoring type place. She told me that Im hired as a contractor and that they wont be taking takes out of my paycheck. I started this week on Monday afternoon. I will be working three evenings a week and making 18 per hour. I plan on keeping this job until at least August. Its fantastic supplemental income and an easy side job. What do I need to know about taxes for next year? I just dont want us to get hit with a huge tax bill.  <response>: Save at least a third of the money she gives you. You will be responsible for paying your taxes, so that saved money is how youre going to do it. 