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You need to report in box 1 schedule C GROSS payments that you received.
If you receive reporting form 1099MISC - you should have the gross proceeds on that form. Otherwise - you need to account for gross proceeds in your books.
The business income and expenses will be reported on the schedule C - http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
The net income (after deductions)will be reported on the form 1040 line 12 - http://www.irs.gov/pub/irs-pdf/f1040.pdf
If the business has net income over $400, it may be required to file Schedule SE, Self-Employment Tax and net income is likely self-employment income and 15.3% self-employment tax would be required (13.3% in 2011).
Self-employment taxes from schedule SE will go to the form 1040 line 56 - http://www.irs.gov/pub/irs-pdf/f1040.pdf
Also - you will deduct half of self-employment taxes on the line 27.Generally - that all you needs. Please review all possible deductions - that might help to reduce tax liability.
To estimate your tax liability follow these steps:
1. estimate your deductions and NET business income.
2. you will be subject of 13.3% self-employment taxes on your NET business income.
3. you will pay income taxes based on your all income (including NET business income) - you may consider 15% as a very raw estimate.
4. Louisiana state income taxes are between 2% and 6% depending on your total income.
Let me know if you need any clarification.