“My question is do I need to file separate taxes for my pharmacy gig and for this insurance business or can I just lump them all together since I have no income from the insurance job?”------>As a self-employed insurance broker, an independent contractor, Yes; however. Since you earn your pay after makin’ a policy sale, then you are an independent contractor receiving a Form 1099, 1099-misc, I guess, at the end of each year from the insurance company in lieu of a Form W-2. and need to file your Sch C and Sch SE as long as the amount on line #4 on Sch SE is $400 or more;as you had no sales, then you DON’T have to file both Sch C and SE and you also DO not pay quarterly estimated taxes. The insurance company does not withhold any tax from your commission. So, you must calculate your income tax called SE taxes, social security tax, Medicare tax, and any state and local taxes as long as the amount on #4 on Sch SE is $400 or more. As a self-employed person, you are required to pay both the employer and employee portions of the FICA tax, 15.3%. You expect to file a return in which you owe more than $1,000 (if it’s under $1,000 then the IRS will give you a pass on it),You then pay these taxes directly to the government at least once per fiscal quarter, quarterly estimated taxes.
Please visit the IRS Website here; Self-Employment Tax