Questions - Filing with no attorney

[sunnydazeahead]

I have a question about the self-employment issue. I was self-employed until 4/30/2007 but have had a regular job with regular paystubs since 5-14. I am filing on 7/1 so for the 60 days before that I wasn't self-employed. Will I need to fill out anything else to document my income from 12/1 to 4/30 for the 6 month lookback?

[ProSefromCA]

Hi sunnydazeahead,

I'm just getting to this part in the book I got from Nolo.com. I think the main thing for you to consider is whether to mark consumer or business debt. If it's business debt the path is easier, as it looks like the Form 22A Income and Means test with the new law can be skipped. If your debt is over 50% because of business then mark business debt. That way you don't go into the 6 month look back, which actually starts Jan. 1 for you filing July 1. Then you would be concerned with just the 60 day look back, like I am. In either case the Tax Return info for 2006 will be needed. In addition, you would need your paystubs for prior 60 days, and I don't believe any thing else would be needed since you had no self-employment within the prior 60 days.

But if your debt is consumer debt, then you must do Form 22A and the 6 month look back which, of course, includes your self-employment. Again, you need 2006 Tax Return (or transcripts) and then I'm lost as to what else you need for showing the self-employement AND pay stubs... It may be just that you fill in the amounts of business income where indicated, wage income where indicated, and attach pay stubs, and some kind of detailed statement of employment income. I'm trying to figure out myself how to make a "detailed statement" of the few business lump sum payments I received this year.

[familyof7]

For the detailed statement just put lump sum payment received on xample 03/01/07 for x.xx amount of money received 0.00 for april 0.00 for may then put my yearly income for 2006 was x.xx amount and that averaged by 12 months is an average monthly income of x.xx of money something to that effect

[ProSefromCA]

Got it! Thanks familyof7!

[banned2]

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