Even though it might be less than the Standard Deduction and then not taxable you will still owe the self employment tax on it.
You pay Self Employment tax (Scheduled SE) on a Net Profit of $400 or more on Schedule C in addition to regular income tax on it. You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400). The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire. The Self Employment tax is in addition to any regular income tax on it.
