Schedule C Net Profit Calculator
For a sole proprietor, net profit is what the business keeps after its costs. This does the sum that leads to that figure, from the totals you enter.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
Take the receipts and subtract refunds and returns to get net sales. Subtract the cost of goods sold to get gross profit, then subtract the other expenses. What is left is net profit.
Enter whole-year totals. This is arithmetic only. It does not decide which costs you can claim, or any tax you owe.
Worked example
Receipts of $80,000.00, less $1,000.00 in returns, $20,000.00 of goods sold and $15,000.00 of expenses, leave a net profit of $44,000.00.
Questions
What counts as an expense?
Costs that are ordinary and necessary for the business, such as supplies, rent and fees. Whether a cost can be claimed depends on the rules, so check before you count it.
Is net profit the same as take-home pay?
No. Net profit is before income tax and before any money you draw out for yourself. It is the business's figure, not yours.
Does this show the tax I owe?
No. It only shows the profit. Tax depends on your whole situation, so a tax professional can help.
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