tax returns- self employed

[John C]

I am going to bring three years of tax returns, I am self employed. Is it ok just to submit my copies of the last three years or would transcripts from the IRS be better.

If anyone has any other idea's to insure, my income does'nt come into play it would be greatly appreciated. I am a bit concerned on my income, I have always done great with my business but my bottom line is always well adjusted because of the business deductions.

Any help again would be welcomed.

Thanks,

John and Siyi

[Randy W]

I always recommend an accounting statement to show your true income. If you have a roof over your head, groceries, etc., etc., you have income. Your accountant (or you) should be able to show this.

 

The tax return is NOT your bottom line.

Summarize this with a cover sheet.

[Yan and Tom]

Get the transcripts. Get 2008's if possible. Have 2005 thru 2008 available. write cover letters to explain any annomalies.

[david_dawei]

the issue with taxes, is that they normally look at the total income, which for self employed is after a business profit/loss is reflected!

 

Some, something more than just taxes is good for self-employed.. as Randy is showing.

[Dan R]

Submit the full tax forms for each year. If you received 1099s for your work include them. If you made under $20,000 ( is that the current minimum) give a cover letter explaining where you benefit before the bottom line or get a cosponsor.