self emplyed tax

[safari lawn]

Just started a business and came across the self employed tax. What is this?? Do you only pay it on the profit?????

I have a full time job and this is my second income.
Some help here.

If you dont have an accountant, File a Schedule C with your 1040 taxes, deduct your business expenses and that will give you your profit, if you make any. I would highly recommend seeing a tax person your first year, then apply their tricks the next year on your own, its well worth the $200.00 tax prep fee