It sounds like you are working for yourself and have a contract to do work for a private household. If that is correct, then you would file a
Schedule C (its an acrobat reader link). You would be able to deduct all your work related expenses in this case. This site has a decent basic introduction article on
home businesses if you haven't read it already. There are a lot of additional deductions you can claime with a home business.
If I were you, I'd open a Roth IRA invested in a
Vanguard Fortune 500 Index Fund, at least until you are more comfortable picking stocks on your own. There is a short thread talking about the
Roth IRA and on
Index Funds. Please ask if you have any other questions. I don't know if I can answer them, but I will try.