with the first job, you pay income taxes and self-employment taxes. if you're an employee at the second job, social security and medicare taxes will be taken out of your paychecks but they are about 7.65 % of taxable wages whereas self-employment taxes are about 14% of net S-E income. as an employee virtually all job-related expenses will no longer be deductible. the deduction for self-employed health insurance may be limited. there may be an effect on the deductibility of medical expenses. only those in excess of 7.5 % of your adjusted gross income will be deductible if you itemize. we can't see your 2021 returns or know what you'll be reporting in 2022 therefore the effect on your income taxes is unknown. I named just a few areas that can be affected. there are various free tax calculators available on the web. I can give you no assurances that they've been updated to reflect 2022 tax laws or their relative accuracy
