Tax Worksheet Self Employed. If you're not sure where something goes don't worry, every expense on here, except for meals, is deducted at the same rate. Note: If your only income subject to self-employment tax is. church employee income, see instructions.
However, if you are self-employed, operate a farm or are a church employee you may owe self-employment taxes. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. But, when you're self-employed, the labyrinth of paperwork and potential tax deductions creates a tax situation that's enough to give even the most laid-back freelancer heartburn.
However, if you are self-employed, operate a farm or are a church employee you may owe self-employment taxes.
Normally these taxes are withheld by your employer.
Use this calculator to estimate your self-employment taxes. Self-Employed Income & Expense Worksheet This worksheet helps self-employed clients prepare both their income and expense information. Our cash flow analysis worksheets promote ease and accuracy in determining self-employed borrowers' income.