Part 2.
If you are self-employed, you must keep accurate records of your income and expenses. You report your gross income and deduct your expenses, and pay income tax plus self-employment tax on your net profit. Expenses can be quite complicated, and often assets like cameras and other equipment must be depreciated rather than expensed. Turbotax Self-Employed version will guide you through everything. There are also a number of links to IRS sites about SE taxes and expenses that I will try to get someone to post for you.
