Schedule C Calculator
Calculate net profit/loss from self-employment with expense categories.
Net Profit/Loss
$66,500.00
SE Tax
$9,396.15
Schedule C Summary
| Gross Revenue | $100,000.00 |
| COGS | -$20,000.00 |
| Gross Profit | $80,000.00 |
| Total Expenses | -$13,500.00 |
| Net Profit | $66,500.00 |
| SE Tax (15.3%) | $9,396.15 |
Use the Schedule C Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
How It Works
A Schedule C Calculator helps self-employed individuals and single-member LLCs determine their net profit or loss from a business. This is crucial for accurately reporting income to the IRS and calculating self-employment taxes (Social Security and Medicare contributions). It simplifies the complex process of categorizing income and expenses.
The calculator essentially subtracts all allowable business expenses from your total gross business income. This aligns with the structure of IRS Form Schedule C, Profit or Loss from Business. The resulting net profit is then used to calculate your self-employment tax obligations and your adjusted gross income for federal income tax purposes.
Ensure you meticulously track *all* business income and expenses throughout the year; a lack of detailed records is a common mistake. Don't forget to include home office deductions if eligible, and be aware of the difference between deductible business expenses and personal expenses.
Example: Freelance Designer's Schedule C
- 1 Sarah, a freelance graphic designer, has $65,000 in gross receipts for the year. Her business expenses include: $5,000 for a new computer, $1,200 for software subscriptions, $800 for office supplies, $2,000 for professional development courses, and $1,500 for business insurance.
- 2 Gross Income: $65,000. Total Expenses: $5,000 (computer) + $1,200 (software) + $800 (supplies) + $2,000 (education) + $1,500 (insurance) = $10,500. Net Profit = $65,000 - $10,500 = $54,500.
- 3 The Schedule C Calculator would show a net profit of $54,500 for Sarah's freelance business.
- 4 This $54,500 is the amount Sarah will report on her Schedule C for calculating her federal income tax liability and self-employment taxes. She can use this figure to estimate her quarterly tax payments to avoid penalties.
Source: SBA — Business Guide · Last updated: April 2026
Frequently Asked Questions
Who needs to file Schedule C?
What is the difference between Schedule C income and a W-2?
Can I deduct a home office on Schedule C?
You might also need
Self-Employment Tax Calculator 2026 — SE Tax & Quarterly Payments
Calculate SE tax, quarterly estimated payments, and total tax burden for freelancers and 1099 contractors. Free, instant results based on 2026 IRS rates.
LLC vs S-Corp Tax Comparison Calculator
Compare tax liability as an LLC vs S-Corp. See how much you can save on self-employment tax with an S-Corp election.
W-2 vs 1099 Comparison Calculator
Compare take-home pay as a W-2 employee vs 1099 contractor. Find the equivalent 1099 rate to match your W-2 salary.