[R*R]

With most businesses over-generous expense deductions etc... is not he end of the world but undeclared income is a bad one if your caught. Declare the income and make a payment arrangement if you can't pay it all at once. Don't get caught with that much undeclared income as the IRS ( assuming that your American) will make your life miserable now and possibly into the future. Don't forget to deduct whatever expenses you possibly can like your computer costs, gas to get to Walmart(why not) and other items a CPA might suggest.