Just to be clear, the income earned will be subject to both self-employment tax AND regular income tax.
This is no different than someone that gets a W-2; these earnings are subject to both SS (same as SE tax) and regular income tax. In the later case, the employer pays 1/2 of the SS tax.
However, you will get to deduct 1/2 of your SE tax when determining regular taxable income.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
