Hello and thank you for joining us today!
Congrats on your new government job!
Your self employment income before expenses doesn't seem a lot but it is hard to estimate how much your taxes will be solely on that info and not knowing what your income from your w2 job will be. There will be self employment taxes applied on the total profit from the SE income. Estimated tax payments are suggested if you expect to owe more than 1k on your taxes. At least one ES payment is recommended in this case as your 1099 jobs ended. SE tax rate is 15.3% and we should also consider marginal tax rate plus state tax (as a separate payment liability). I would suggest making sure your withholding for your w2 job are proper based on your filing status, dependents, etc.
It is possible that if your w2 withholding is high enough that it may cover the SE taxes for this amount. New job withholding tables don't account for earnings from other sources and generally under withhold, so completing an accurate w4 with your employer is important. If you do not have any federal taxes withheld from your paycheck, this may cause a balance due on your tax return, not only for SE tax but also federal tax on your total income, plus any state taxes if applicable.
You may use TaxCaster to estimate your taxes/refund: LINK
Also IRS tax withholding estimator: LINK2
Good luck!
