self employed and confused

[idaho1 1]

Hello all, I'm self employed and adjusted gross income for 2009 is 19,599 , 2008 is a few thousand less.No dependents other then myself and fiancee. I have had no less then 25,000 in my personal checking account for at least 2 years. My store property is valued by a local real estate agent at 450,000 with less then 40,000 owed on the note. Please tell me what I will need for interview. I'm not the kinda of guy that wants to take chances . Thanks .

[ratsso 0]

Hello all, I'm self employed and adjusted gross income for 2009 is 19,599 , 2008 is a few thousand less.No dependents other then myself and fiancee. I have had no less then 25,000 in my personal checking account for at least 2 years. My store property is valued by a local real estate agent at 450,000 with less then 40,000 owed on the note. Please tell me what I will need for interview. I'm not the kinda of guy that wants to take chances . Thanks .

I'm also self-employed and concerned about the issue. It states that the last tax returned is required for self-employed individuals. I want to know if they base the income on the gross, adjusted gross income, or net income. For you. I would say because you have assets as real estate, with less then 40k, you're pretty safe. hmm.

[JimVaPhuong 4,863]

Hello all, I'm self employed and adjusted gross income for 2009 is 19,599 , 2008 is a few thousand less.No dependents other then myself and fiancee. I have had no less then 25,000 in my personal checking account for at least 2 years. My store property is valued by a local real estate agent at 450,000 with less then 40,000 owed on the note. Please tell me what I will need for interview. I'm not the kinda of guy that wants to take chances . Thanks .

You should be fine.

I'm also self-employed and concerned about the issue. It states that the last tax returned is required for self-employed individuals. I want to know if they base the income on the gross, adjusted gross income, or net income. For you. I would say because you have assets as real estate, with less then 40k, you're pretty safe. hmm.

Total income from the 1040 (line 22) or 1040-A (line 15). AGI from the 1040-EZ (line 4). Unfortunately for self-employed people, they do not consider your gross receipts from Schedule C.