If you are self-employed, the IRS considers you to be operating a "business," meaning your are responsible for your own taxes. Unlike an employee, you can claim business deductions.
On $24,000 of income, you would pay income tax plus $3,391 of self-employment tax (Social Security and Medicare).
The IRS allows you do deduct half the amount of self-employment tax ($1,696) against your income. There is also a qualified business income deduction of $4,461.
You can claim business expenses, such as a home office and equipment. Any business expenses will reduce your taxes. See: The ultimate guide to tax deductions for the self-employed.
The deductions sound like a great deal—and they are—but many self-employed persons don't make quarterly tax payments or save any money for taxes. As a result, they end up owing a lot of money at tax time, which they cannot pay. They get onto an IRS payment plan and keep paying taxes for years afterwards.
You can use Taxcaster to estimate how you will do. Enter your income as W-2 and then try it again as self-employed.
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