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Get Self Employed Income Worksheet
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How to fill out the Self Employed Income Worksheet online
The Self Employed Income Worksheet is a critical document for individuals seeking energy assistance through the HEAT program. This guide will provide you with a clear and supportive step-by-step process to complete the worksheet online effectively.
Follow the steps to complete your Self Employed Income Worksheet online.
- Click ‘Get Form’ button to obtain the Self Employed Income Worksheet and open it in your chosen editor.
- Begin by entering your name and the name of your business in the designated fields at the top of the form. Next, provide the address, city, state, and ZIP code of your business.
- Fill in your HEAT application number and business EIN. Indicate the month and year your business started.
- In the following sections, you will record your gross receipts, other gains or income, returns or allowances, and the cost of goods sold for each month. Be sure to enter the total for each column as you go.
- Calculate your gross income by subtracting returns, allowances, and costs of goods sold from your total receipts. The gross income total will be entered in Box 1.
- In the expenses section, list all relevant expenses incurred by your business. Each type of expense has a designated line; please fill in the amounts accurately.
- Once all expenses are recorded, total each column and calculate the overall monthly expenses. Record this total in Box 2.
- To estimate your monthly income, subtract the total expenses from the total gross income. This amount is your estimated monthly income; if it is less than zero, count it as zero.
- Review all entered information to ensure accuracy. Once completed, navigate to the options to save your changes, download the document, print, or share it with your HEAT worker.
Begin completing your Self Employed Income Worksheet online today to move forward with your energy assistance application.
You calculate net earnings by subtracting ordinary and necessary trade or business expenses from the gross income you derived from your trade or business. You can be liable for paying self-employment tax even if you currently receive social security benefits.
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