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I figured this was the best place to post this since there are probably lots of self employed people that post here. <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile"><br><br>
Dh is self employed for the first year this year. We're not expecting a refund but is there any way of figuring out what we'll have to pay in?
 

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What tax bracket are you going to be in? What were the profits? If it was very low profits, it will be a min of 15% of the profit just for soc and such. If he made more than $20,000 or so, that will go up depending on how much. Remember, 30% is normal for middle class now (I think).
 

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I use 1/3 as a rough guideline.<br>
Get a good book on small business tax deductions so you know what to document and be sure you're taking everything you're entitled to while you're doing those taxes.
 
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