Means test for self-employed?

[StylinGirl]

Has anyone here BKd recently as a self-employed? How does the means test work? My "income" is without any taxes or expenses considered. Do I need to do a short return?
Also- shouldn't this final figure take the taxes that are DUE on this amount since thats the slip that got me here in the first place?
Help!

[bkinfoseeker]

But of course:

Item 25) Other necessary expenses: taxes. Enter the total average monthly expenses that you actually incur for all federal, state and local taxes, other than real estate and sales taxes, such as income taxes, self employment taxes, social security taxes, medicare taxes. Do not include real estate or sales taxes

This is a pretty good tax calculator for 2006.

http://www.turbotax.com/tax_calculators/estimator/

Not that it is the bk standard or it may not figure in everything for the self employeed.

Notice they say "actually incur" so I assume rather than cash flow of taxes paid each month they want to now how much tax liability for each month not how much is simply withheld.

And finally,

Item 4) Income from the operation of a business a) Gross receipts minus b) Ordinary and necessary business expenses = business income.

Two important things
1) Business income cannot be negative (unlike your taxes)
2) Do not include anything from section V which is your long list of your personal expenses (no double dipping). Your business expenses should specifically limited to just the operation of your business.