How To Calculate Your Income for Your Bankruptcy Forms if You’re Self-Employed
If you are self-employed and filing for bankruptcy, it is important to accurately calculate your income for the necessary forms. Knowing how to calculate your income for bankruptcy forms can feel like a daunting task, but it does not have to be. By following these simple steps, you can easily determine your income and properly complete your paperwork.
First, you must account for any money that comes into the business from sales or services. This includes any money made in cash as well as any money received through other means such as PayPal or Venmo transactions. You should also kep track of expenses such as taxes and loan payments that come out of the revenue stream. Once all of this information is recorded, subtracting these expenses from total revenue will give you a good estimate of net income per month.
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