Schedule C Calculator 2025 β Self-Employment Profit/Loss Calculator
Calculate your Schedule C profit or loss for 2025. Enter your business income and expenses to find your net profit, self-employment tax, and federal income tax.
Business Income
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Refunds or discounts given to customers Business Expenses
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8,000 miles Γ $0.70 = $5,600 $
Payments to subcontractors (issue 1099s if > $600) $
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$0
Net Schedule C Profit
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Self-Employment Tax
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Federal Income Tax
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Total Tax Owed
Schedule C Summary
How to Use This Schedule C Calculator
Enter your gross revenue and all business expenses. The calculator totals your deductions to find your net profit, then computes self-employment tax and federal income tax. Results show exactly what you would report on Schedule C of your Form 1040.
The Formula
Gross Income = Revenue β Returns & Allowances β COGS
Total Expenses = Advertising + Vehicle + Labor + Home Office + Insurance + Supplies + Meals Γ 50% + Other
Net Profit = Gross Income β Total Expenses
SE Tax = Net Profit Γ 92.35% Γ 15.3%
AGI = Net Profit + Other Income β SE Tax/2 β QBI (20%)
Federal Income Tax = Tax(AGI β Standard Deduction)
Total Expenses = Advertising + Vehicle + Labor + Home Office + Insurance + Supplies + Meals Γ 50% + Other
Net Profit = Gross Income β Total Expenses
SE Tax = Net Profit Γ 92.35% Γ 15.3%
AGI = Net Profit + Other Income β SE Tax/2 β QBI (20%)
Federal Income Tax = Tax(AGI β Standard Deduction)
Example
Freelance web developer, $80,000 revenue, $12,200 expenses:
Net profit: $80,000 β $12,200 = $67,800
SE tax: $67,800 Γ 92.35% Γ 15.3% = $9,578
SE deduction: $4,789 | QBI: $13,560
Taxable income: $67,800 β $4,789 β $13,560 β $15,000 = $34,451
Federal income tax: ~$4,065
Total: $13,643 β effective rate: 17% on net profit
Net profit: $80,000 β $12,200 = $67,800
SE tax: $67,800 Γ 92.35% Γ 15.3% = $9,578
SE deduction: $4,789 | QBI: $13,560
Taxable income: $67,800 β $4,789 β $13,560 β $15,000 = $34,451
Federal income tax: ~$4,065
Total: $13,643 β effective rate: 17% on net profit
Extended
Complete Schedule C Tax Analysis
Full tax breakdown including SE tax, QBI deduction, and quarterly payment schedule
Complete Tax Analysis
Full Tax Breakdown
Quarterly Estimated Payment Schedule
| Quarter | Due Date | Payment Amount |
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Retirement Savings Opportunities
Frequently Asked Questions
What is Schedule C?
Schedule C (Profit or Loss from Business) is the IRS form used by sole proprietors, single-member LLCs, and freelancers to report business income and deductions. The net profit from Schedule C flows to Form 1040 and is subject to both income tax and self-employment tax. It is filed with your personal tax return.
What business expenses can I deduct on Schedule C?
Deductible Schedule C expenses include: advertising, car and truck expenses, commissions and fees, contract labor, depreciation, employee benefit programs, insurance, interest, legal and professional services, office expenses, pension/profit-sharing plans, rent/lease expenses, repairs, supplies, taxes and licenses, travel, meals (50%), utilities, wages, and other ordinary and necessary business expenses.
Can I deduct 100% of business meals?
No. Business meals are generally only 50% deductible. The meal must have a clear business purpose and you must document the business relationship and purpose. Client entertainment (tickets, events) is no longer deductible after the 2017 tax law change. Meals at conferences or provided to employees on company premises may be 100% deductible in specific circumstances.
What is the home office deduction for Schedule C filers?
Schedule C filers can deduct home office expenses on Form 8829 using either the simplified method ($5/sq ft, max $1,500) or the regular method (business % of actual home expenses). The deduction is limited to your Schedule C net income β you cannot use home office deductions to create a loss (excess carries forward).
Do I need to file Schedule C if I only earned a small amount of freelance income?
Yes. All net earnings from self-employment over $400 require filing Schedule SE, and you file Schedule C to report the income and deductions. Even if you earned only $500 as a freelancer, you need Schedule C and Schedule SE. The $400 threshold applies to NET earnings (after business expenses), not gross income.