Find the money you can keep
US self-employed tax return builder
Every Schedule C line in plain words, with self-employment tax and the deductions freelancers miss, and nothing invented.
Start with your real figures
The builder starts completely empty. Put in your receipts and your costs and it fills in the Schedule C lines, works out your self-employment tax on Schedule SE, takes off the half you are allowed on Schedule 1, and shows the quarterly payments the IRS will expect. Nothing is saved unless you are signed in and choose to save it.
The Schedule C lines that matter
These are the lines almost every self-employed person fills in. The builder puts your figures in each one.
| Line | What goes in it | In plain words |
|---|---|---|
| Line A to C | What the business does, code and name | A short description, the six digit business code, and your own name if the business has none. |
| Line 1 | Gross receipts or sales | Everything clients paid you, including anything on a 1099-NEC or 1099-K. |
| Line 2 to 4 | Returns, allowances and cost of goods | Refunds you gave back, plus what the goods you sold cost you. |
| Line 7 | Gross income | Receipts less returns and cost of goods. The starting point for expenses. |
| Line 8 | Advertising | Ads, listings, sponsored posts and design work for them. |
| Line 9 | Car and truck expenses | Standard mileage rate or actual costs. Keep a log either way. |
| Line 11 | Contract labor | People you paid who are not employees. Over 600 dollars usually needs a 1099-NEC. |
| Line 13 | Depreciation and Section 179 | Equipment written off over time, or in full in the first year. |
| Line 15 | Insurance other than health | Business liability and equipment cover. Health premiums go on Schedule 1. |
| Line 18 | Office expense | Software, subscriptions, stationery and postage. |
| Line 20 | Rent or lease | Premises, vehicles and equipment you rent for the business. |
| Line 24 | Travel and meals | Business travel in full, and business meals at 50 percent. |
| Line 27a | Other expenses | Anything genuine with no line of its own, listed in Part V. |
| Line 30 | Home office deduction | Simplified method at 5 dollars a square foot, up to 300 square feet. |
| Line 31 | Net profit or loss | Gross income less expenses. This is the figure that gets taxed. |
Which form do you need?
Schedule C: Profit or loss from business
Every sole proprietor, freelancer, contractor and single member LLC. One Schedule C per business.
The official form on IRS.govSchedule SE: Self-employment tax
Net profit of 400 dollars or more. 15.3 percent on the first 176,100 dollars of net earnings for 2025, then 2.9 percent.
The official form on IRS.govSchedule 1: Additional income and adjustments
Carries your business profit up to the 1040, and takes off half your self-employment tax, your health premiums and a SEP or solo 401(k).
The official form on IRS.govForm 1040-ES: Estimated tax
Quarterly payments in April, June, September and January. Missing them is where the penalties come from.
The official form on IRS.govForm 1040: The main return
Everything lands here. Your Schedule C profit flows in through Schedule 1.
The official form on IRS.govThree things freelancers leave on the table
- The qualified business income deduction. Up to 20 percent of your business profit comes off your taxable income before the rates are applied.
- A solo 401(k) or SEP IRA. Far bigger limits than an ordinary IRA, and it comes straight off your taxable income.
- Self-employed health insurance. Premiums you pay yourself are an adjustment on Schedule 1, not an itemised deduction, so you get them either way.