2697340
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Maybe---since you are posting from Self-Employed that means you need to pay self-employment tax for Social Security and Medicare. You have not told us anything else about your filing status, dependents (if any) etc.
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
yes. it is possible. your net Schedule C income is subject to a 14.1% net Self employment tax (see schedule SE). in addition, you're subject to income taxes on your net taxable income
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