Independent Contractor- how do taxes work?

[lil peep]

I wasn't sure where to put this, so I'm posting it here. Feel free to move it if necessary! Anyways, I was wondering if anyone has done this for a company--worked as an independent contractor. I'm wondering how it works as far as paying taxes or doing your taxes come tax time. Is it difficult? Do you enjoy being your own boss? Or do you find it more challenging?

[pss12]

I was an independant contractor. You're supposed to file quarterly reports for your taxes and pay them but some people just do it at the end of the year. Just keep Profit and Loss statements and good records. I did like it but the economy took a turn and I had to go out and get a regular 9-5.